Illinois / Waukegan / 60087 / 2205 North Butrick Street

2205 North Butrick Street

Q: What is the asking price for 2205 North Butrick Street in Waukegan?

The asking price for 2205 North Butrick Street is $8,400,000

Q: What is the building size of this Multifamily property in Waukegan, IL?

The size of the building/unit at 2205 North Butrick Street in Waukegan is 59,547 square feet.

Q: What is the population within 1 mile of 2205 North Butrick Street?

The population within 1 mile of 2205 North Butrick Street Waukegan, IL 60087 is 14,335 people.

Q: Who do I contact for questions about 2205 North Butrick Street?

You should contact the listing agent, Danny Mantis, for any details regarding this commercial listing.

Waukegan, IL 60087

Sunset Village

Listing ID: 279835

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Building Size: 59,547 SF

Lot Size: --

Land Size: --

Building $/SF: $141.07

Land $/SF:

Price

$8,400,000

Property Highlights

Unit Mix of Seventy-Six 76 1 Bedrooms Eight 8 2 Bedrooms

Significant Rental Upside

Historically High Occupancy

Concrete Construction

Heated Underground Parking Garage with Elevator

Description

Kiser Group is please to exclusively offer Sunset Village Apartments for sale. Located at 2205 N Butrick in Waukegan, IL the property is made up of 84 units and was built in two phases - the first phase was in 1991 and the second phase in 2001. It is still owned by the original developer.
Sunset Village is a a stable asset and has a track record of historically high occupancy. The property contains 84 units and offers a unit mix of 76 one-bedroom units, and 8 two-bedroom units. In addition to the exterior surface parking spaces which is included in the rent, tenants have the opportunity to rent indoor heated parking spaces and exterior garage spaces for an additional fee.
A successful buyer of this property will have to opportunity to raise rents through more aggressive management style. While the building is well maintained, the market will bear higher rents that are currently being achieved for units of a comparable vintage. Should market rental assumptions be achieved, the new owner should be able to achieve a 6% cap rate once leases are turned over.

Points of Interest & Demographic Radii

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Demographic Radii

POIs provided for entertainment purposes only. Data comes from multiple data sources as well as users and agents. MyEListing makes no claims whatsoever as to the accurancy and/or completeness.

Chicago History of Multifamily Housing for Sale

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Listing Demographics for 2205 North Butrick Street Waukegan, IL 60087

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

		1-Mile	3-Miles	5-Miles
Total Population		14,335	84,228	163,975
Population Median Age		34	35	34
Population by Age	0-9 Yrs	2227 (15%)	12324 (14%)	24274 (14%)
	10-19 Yrs	2422 (16%)	13561 (16%)	25931 (15%)
	20-29 Yrs	1933 (13%)	12603 (14%)	27841 (16%)
	30-39 Yrs	2015 (14%)	11689 (13%)	21268 (12%)
	40-49 Yrs	1828 (12%)	11340 (13%)	20544 (12%)
	50-59 Yrs	1825 (12%)	9867 (11%)	19059 (11%)
	60-69 Yrs	1111 (7%)	7557 (8%)	14544 (8%)
	70+ Yrs	974 (6%)	5286 (6%)	10514 (6%)

Median HH Income		$55,636	$50,807	$52,351
Total Household Income	< 24K	931 (18%)	6001 (21%)	12293 (22%)
	25-49K	1300 (26%)	8020 (28%)	13960 (25%)
	50-74K	1112 (22%)	5757 (20%)	10763 (19%)
	75-99K	754 (15%)	3403 (11%)	6234 (11%)
	100-199K	742 (15%)	4747 (16%)	9819 (17%)
	200K+	99 (2%)	525 (1%)	1539 (2%)

Highest Education Level	No Diploma	1748	12446	21128
	Diploma or GED	2776	17046	31251
	Some College	1910	10821	20923
	Assoc. Degree	525	3713	6278
	Bachelors Degree	1046	5259	12222
	Higher Degree	597	2407	6233

Total Housing Units		5,311	30,582	59,212
--Owner-Occupied		2,639	14,650	28,069
--Renter-Occupied		2,299	13,802	26,539
Owner-Occupied Values	< 100K	578	4143	8155
	100-199K	1694	8149	13261
	200-299K	243	1783	4437
	300-399K	99	330	1452
	400-499K	17	30	238
	500K+	8	215	527

Total Working Age Population		10,704	63,569	124,932
In Work Force		7,481	44,126	86,851
Not In Work Force		3,223	19,443	38,081
Workforce Employed		6,925	40,570	76,337
Workforce Unemployed		417	3,182	6,609
Civlian Workforce		7,343	43,752	82,945
Military Workforce		138	374	3,906

Total Households		4,938	28,452	54,608
Family Households		3,381	19,433	37,386
Non-Family Households		1,557	9,019	17,223
Married Couple		2,088	12,962	24,037
Other Family		1,293	6,470	13,349
Married w/Child		1,018	6,379	11,548
Single Male w/Child		297	1,064	1,911
Single Female w/Child		567	2,830	6,156

Population Change Last Two Decades - Plus Projection

	2000	%	2010	%	2020	%	2030
Illinois	12,419,293	+3	12,830,632	+12	14,316,487	+6	15,138,849
Lake County	644,356	+9	703,462	+17	820,250	+6	873,024

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No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Common Questions and Answers

What is the asking price for 2205 North Butrick Street in Waukegan?

The asking price for 2205 North Butrick Street is $8,400,000

What is the building size of this Multifamily property in Waukegan, IL?

The size of the building/unit at 2205 North Butrick Street in Waukegan is 59,547 square feet

What is the population within 1 mile of 2205 North Butrick Street in Waukegan?

The population within 1 mile of 2205 North Butrick Street Waukegan, IL 60087 is 14,335 people.

Who do I contact for questions about 2205 North Butrick Street?

You should contact the listing agent, Danny Mantis, for any details regarding this commercial listing.

Other Listings for Sale Nearby

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3305 Sunset Avenue, Waukegan, IL	$4,425,000	34900	-
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1615 60th Street, Kenosha, WI	$2,475,000	32361	0.71
29 Park Avenue, Lake Zurich, IL	$450,000	2016	0.23
3400 North Old Arlington Heights Road, Arlington Heights, IL	CALL	93217	3.85
5 West Wood Street, Palatine, IL	$1,150,000	2000	0.5
10047 Linda Lane, Des Plaines, IL	$429,000	6000	1
601 Park Avenue, Wilmette, IL	$12,600,000	27000	-
10109 Old Orchard Ct, Skokie, IL	$6,840,000	24000	-
9020 Washington Drive, Des Plaines, IL	CALL	628869	43

Closest Commercial Airports

Airport	Distance (mi)
Chicago O'Hare International Airport (ORD)	29
General Mitchell International Airport (MKE)	38
Chicago Midway International Airport (MDW)	42