Essex Realty Group Inc. is exclusively engaged to market for sale a three-building, 21-unit apartment portfolio in the near north suburbs of Des Plaines and Niles. The buildings can be purchased individually or as a portfolio. The addresses are as follows:
- 400-416 Laurel Avenue, Des Plaines - 9 Units
- 8890 Root Street, Niles - 6 Units
- 8861 Cumberland Avenue, Niles - 6 Units
400-416 Laurel Avenue is comprised of one (1) 1Bd/1Ba unit and eight (8) 2Bd/1Ba units. Current rents are below market; however, a new owner could achieve rents $160-$250 higher a month by completing interior upgrades to the apartments. The Property is conveniently located less than a mile from downtown Des Plaines and the Miner Street UP-NW Metra station.
8890 Root Street and 8861 Cumberland Avenue are both six unit apartment buildings, each comprised of one (1) 1Bd/1Ba and five (5) 2Bd/1Ba units. These properties are less than one block from each other, low maintenance, and both possess manageable expenses. Current rents are below market compared to similar units in the area. A new owner may achieve significant rental increases with a more aggressive leasing approach and performing modest updates.
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