Premier Luxury — Sale in Franklin Park, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Franklin Park, IL 60131

Investment Figures

Cap rate
5.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present Premier Luxury Apartments located at 9600 Franklin Avenue in Franklin Park, Illinois. The subject property sits across the street from the Franklin Park Metra Station (Milwaukee District-West), less than one mile to Franklin Park Metra Station II (North Central Service), approximately two miles south of Interstate 294 and approximately four miles southeast of O’Hare International Airport. The property is also within close proximity to unique, upscale dining and shopping options such as Starbucks, Gene & Jude’s and the Fashion Outlets of Chicago, as well as numerous area employers including Microsoft, Life Fitness and O’Hare Airport. Premier Luxury Apartments is located on the opposite side of 25th Avenue from the Park District of Franklin Park’s Community Center, offering an additional amenity to the tenants at no landlord cost. Premier Luxury Apartments is a new construction mixed-use building with 110 apartments and approximately 8,180 square feet of retail. The apartments consist of ten junior one-bedroom units (approximately 635 square feet), 70 one-bedroom/one-bathroom units (approximately 950 square feet), and 30 two-bedroom/two-bathroom units (approximately 1,400 square feet). Retail space can be configured for a single tenant or up to eight individual spaces at approximately 1,000 square feet each. Units feature high-end finishes including face ID entry, stainless-steel appliances, quartz countertops, white soft-close cabinets, triple-gasket German-made windows and high-quality fixtures. The building features two separate keyless lobby entrances, two seven-story elevators, balconies, heated garage parking, a state-of-the-art fitness center, a luxury club room for private events, a rooftop deck with skyline views, a multi-media conference room and a pet spa. Here, an investor has the opportunity to acquire a new construction apartment property with luxury finishes and amenities in a convenient location with potential t

Market Context

This multifamily in Franklin Park, IL is listed for sale. It is offered at an approximate 5.0% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 102 days. Compare it against other multifamily listings for sale in Franklin Park, IL — view the full market.

Contact

Explore this market

Similar Multifamily Property for Sale in Franklin Park, IL