$ 995,000
7227 Roosevelt RD Forest Park, IL 60130
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$ 995,000
Est. payment /mo
Price Dropped by $55K
7227 Roosevelt RD Forest Park, IL 60130
9,400 SqFt
UPDATED:
11/14/2024 06:07 AM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 9,400 sqft
Price per Sqft $105
MLS Listing ID 12150092
Year Built 1924
Annual Tax Amount $50,449
Tax Year 2023
Lot Dimensions 8000
Property Description
Tremendous opportunity to step into a cash-flowing asset on day one of ownership. 7227-7233 Roosevelt Road is a nine-unit mixed-use property located in the near west suburb of Forest Park. The Subject Property consists of five (5) second-floor apartments and four (4) ground level commercial spaces, along with five (5) exterior parking spaces. All units are fully leased, presenting the rare opportunity to acquire a stabilized asset in a high-demand rental market. The commercial spaces are anchored by Boost Mobile, and also include long-term retail tenants with an average tenure of fourteen (14) years. The apartments feature hardwood floors, individual HVAC, individual hot water heaters, and remodeled kitchens and baths with ceramic tile backsplashes, porcelain tile, and granite countertops in select units. Current rents are significantly under market "As-Is." A new owner will have the opportunity to take advantage of tremendous rental upside. Recent capital improvements include roof silver coat (2024), HVAC (2019-2024 five units replaced), copper plumbing (2016), and windows (2016). 7227-7233 Roosevelt Road sits in a phenomenal Forest Park location and offers tenants easy access to major employers, schools, grocery stores, restaurants, and numerous retail options. Residents also benefit from the Harlem Blue Line station 0.6 miles away.
Location
State IL
County Cook
Area Forest Park
Interior
Cooling Central Individual
Fireplace N
Building
Dwelling Type Mixed Use
Level or Stories 2
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Ryan Blake • Essex 312, LLC
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