Essex Realty Group, Inc. is proud to announce the sale of 4735-49 W 101st Street, a (32) unit apartment building in Oak Lawn. The unit mix consists of thirty (30) 1Bd/1Ba and two (2) 3Bd/1Ba units. The units were under market and presented a future investor with the opportunity to raise rents between $125-$200 a month through cosmetic updates. Essex conducted over 20 tours resulting in 10 offers. The Property went under contract within 30 days of listing.
Essex Realty Group, Inc. has been exclusively engaged to market for sale 4735-49 W 101st Street, a (32) unit apartment building of thirty (30) 1Bd/1Ba and two (2) 3Bd/1Ba units.
The 1Bd/1Ba units are currently averaging $769 per month and the 3Bd/1Ba units are averaging $895 per month. Investors have the opportunity to increase rents between $125 to $200 per month through cosmetic updates, as the 1Bd/1Ba units in Oak Lawn are averaging over $950 per month and 3Bd/1Ba units are averaging over $1,250 per month.
Located approximately 12 miles southwest of Chicago, Oak Lawn encompasses just over 8.5 square miles and is bordered by Burbank to the north, Alsip to the south, Chicago Ridge to the west, and Evergreen Park to the east.
The subject property sits less than a mile away from 95th Street to the north and a quarter mile away from 103rd Street which both offer a variety of retail options.
- 32 Unit Multifamily Property
- Multiple Offers - Sold Over Asking Price
- Phenomenal Oak Lawn Location
- Value-add Opportunity With Significant Rental Upside
- Close to Shopping and Public Transportation