Sold
Last Sold Price
16 beds
175 S River Rd, Des Plaines, IL 60016
Multi FamilyProperty Type
0.53 acresLot Size
1928Year Built
32 carsParking Spaces

Description

Ideal opportunity for an investor to acquire a 16 unit, California style apartment building, with strong in place rental cash flow and upside value add potential. The building is 100% occupied. The unit mix features all 1 bedroom and 1 bathroom units. Many recent improvements including fully remodeled units with vinyl plank flooring, bathroom upgrades with tile surround, new cabinets, stainless appliances and granite counters. On site laundry (leased 50/50 split) 1 to 1 parking ratio IMPROVEMENTS:...Ideal opportunity for an investor to acquire a 16 unit, California style apartment building, with strong in place rental cash flow and upside value add potential. The building is 100% occupied. The unit mix features all 1 bedroom and 1 bathroom units. Many recent improvements including fully remodeled units with vinyl plank flooring, bathroom upgrades with tile surround, new cabinets, stainless appliances and granite counters. On site laundry (leased 50/50 split) 1 to 1 parking ratio IMPROVEMENTS: New windows (2017) New roof with down spot and scupper box (2018) Gravel parking lot (2017) New stairways (2017) Exterior paint (2017) Exterior LED lighting (2017)

    Sold By Goldbay Advisors Inc.

    • Listed by: Alexander 312.945.8844 alex@goldbayadvisors.com • Goldbay Advisors Inc.
    Listing closed: 01/31/2019 12:00 AM • Source: MRED as distributed by MLS GRID, MLS#: 10136242

    Recent comparable sales

    Median sold price

    $1,250,000

    Avg days on market

    83

    Sale-to-list ratio

    125.0%

    Des Plaines, IL

    9 comparable properties found

    1

    $1,350,000

    Sold 05/01/26

    Unavailable
    Bedrooms
    Unavailable
    Bathrooms
    Unavailable
    Square Feet
    Unavailable
    Acres
    2

    $1,250,000

    Sold 01/20/26

    Unavailable
    Bedrooms
    Unavailable
    Bathrooms
    Unavailable
    Square Feet
    Unavailable
    Acres
    3

    $1,500,000

    Sold 05/28/25

    Unavailable
    Bedrooms
    Unavailable
    Bathrooms
    Unavailable
    Square Feet
    Unavailable
    Acres
    4

    $1,100,000

    Sold 04/30/25

    Unavailable
    Bedrooms
    Unavailable
    Bathrooms
    Unavailable
    Square Feet
    Unavailable
    Acres
    5

    $1,499,000

    Sold 04/23/26

    Unavailable
    Bedrooms
    Unavailable
    Bathrooms
    15,281
    Square Feet
    Unavailable
    Acres
    6

    $1,750,000

    Sold 09/04/25

    Unavailable
    Bedrooms
    Unavailable
    Bathrooms
    Unavailable
    Square Feet
    Unavailable
    Acres
    7

    $1,200,000

    Sold 06/30/25

    Unavailable
    Bedrooms
    Unavailable
    Bathrooms
    11,900
    Square Feet
    Unavailable
    Acres
    a view of a lake view
    1/2
    8

    $150,000

    Sold 06/19/25

    Unavailable
    Bedrooms
    Unavailable
    Bathrooms
    Unavailable
    Square Feet
    0.33
    Acres
    9

    $525,000

    Sold 09/27/24

    Unavailable
    Bedrooms
    Unavailable
    Bathrooms
    Unavailable
    Square Feet
    Unavailable
    Acres

    Location

    Add your commute

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    OriginPoint Mortgage or Rocket Mortgage1

    $8,221 per month

    30 year fixed, 6.55% Interest

    Principal and Interest

    $7,014

    Property Taxes

    $1,207

    HOA Dues

    $0

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    Property Information for 175 South River Road

    Property Details
    • Taxes: $14,481 / year
    • MLS Type: Multi Family 5+ / Multi Family 5+-Garden Complex
    • County: Cook County
    • Area: Des Plaines
    • Township: MAINE
    • Air Conditioning Type: Window Unit(s)
    • Zoning: MULTI
    Building Information
    • Stories: 2
    • Residences: 16
    • Year Built: 1928
    • Lot Size: 0.53 AC / 23,205 SF
    General Information
    Addtl Parking Information
    • Outdoor Parking: 31-50 Spaces
    Location and General Information
    • Frontage Type: City Street, Easement
    • Information: 48-Hr Notice Required
    Taxes and HOA Information
    • Association Fee Includes: None
    • Additional Parcels: Yes
    Property Information
    Interior Features
    • Air Conditioning: Window Unit(s)
    • Electric: Circuit Breakers, 0-100 Amps
    • Basement Description: Partially Finished
    • Heat/Ventilation: Central Bldg Heat,Baseboard,Radiant
    • # Of Refrigerators: 16
    • Misc Inside: Laundry Room
    • Num of Baths: 0.0
    Property/Lot Information
    • Owners Association: No
    • Tenant Pays: Electricity, Heat
    • Built Before 1978: Yes
    • Approximate Age: New Rehab
    • Multi-Family Type: Garden Complex
    • Lot Dimensions: 85X273
    • Lot Size Square Feet: 23205.0
    • Stories: 2
    • Exterior Building Type: Brick, Concrete
    • Construction: Brick, Concrete
    • Roof Type: Rubber
    • Roof Structure: Flat
    • Foundation Details: Concrete Perimeter
    • Building Area Total: 10800
    • # Of Ranges: 16
    Property and Assessments
    • Possible Use: Multi-Family
    • Buyer Financing: Conventional, Cash
    • Photos Count: 8
    Miscellaneous
    • Current Use: Multi-Family
    • Land Amenities: Other
    Virtual Tour/Additional Media
    • Virtual Tour: None
    • Virtual Tour YN: No
    Multi Family
    Multi-Family Information
    • Number Of Units Total: 16
    Income & Expenses
    • Electric Expense: $709.00
    • Fuel Expense: $4,099.00
    • Gross Income: $15,014.00
    • Gross Scheduled Income: $150,142.00
    • Insurance Expense: $5,400.00
    • Maintenance Expense: $3,492.00
    • Electric Expense Source: Actual
    • Expense Year: 2018
    • Total Annual Expense Source: Actual
    • Fuel Expense Source: Actual
    • Insurance Expense Source: Actual
    • Janitor Expense: 3492
    • Net Operating Income Year: 2018
    • Other Expense Source: Actual
    • Repairs-Decor Expense Source: Actual
    • Trash Expense Source: Actual
    • Total Monthly Income: 14070
    • Water Expense Source: Actual
    • Net Operating Income: $12,852.00
    • Operating Expense: $29,618.00
    • Other Expense: $6,053.00
    • Trash Expense: $2,929.00
    • Water Sewer Expense: $4,222.00
    Unit 1
    • Unit Type Baths Total: 1
    • Unit Type Beds Total: 1
    • Unit Type Type: Unit 1
    • Unit Type Units Total: 16
    • # Of Rooms - Unit 1: 4
    • # Of Full Bthrms - Type 1: 1
    • Monthly Income - 1: 850
    Unit 2
    • Unit Type Beds Total: 0
    • Unit Type Type: Unit 2
    • Unit Type Units Total: 0
    • # Of Rooms - Unit 2: 0
    • Monthly Income - 2: 0
    Unit 3
    • Unit Type Beds Total: 0
    • Unit Type Type: Unit 3
    • Unit Type Units Total: 0
    • # Of Rooms - Unit 3: 0
    • Monthly Income - 3: 0
    Unit 4
    • Unit Type Beds Total: 0
    • Unit Type Type: Unit 4
    • Unit Type Units Total: 0
    • # Of Rooms - Unit 4: 0
    • Monthly Income - 4: 0
    Unit 5
    • Unit Type Beds Total: 0
    • Unit Type Type: Unit 5
    • Unit Type Units Total: 0
    • # Of Rooms - Unit 5: 0
    • Monthly Income - 5: 0
    Unit 6
    • Unit Type Beds Total: 0
    • Unit Type Type: Unit 6
    • Unit Type Units Total: 0
    • Monthly Income - 6: 0
    Unit 7
    • Unit Type Beds Total: 0
    • Unit Type Type: Unit 7
    • Unit Type Units Total: 0
    • # Of Rooms - Unit 7: 0
    • Monthly Income - 7: 0

    Property History for 175 South River Road

    DateEvent & SourcePriceAppreciation
    Jan 31, 2019

    Sold

    MRED #10136242

    $1,380,000
    Nov 21, 2018

    Pending

    MRED #10136242

    Nov 12, 2018

    Listed (Active)

    MRED #10136242

    $1,450,000
    DateEvent & SourcePrice
    01/31/2019

    Sold

    MRED #10136242

    $1,380,000
    11/21/2018

    Pending

    MRED #10136242

    11/12/2018

    Listed (Active)

    MRED #10136242

    $1,450,000

    For completeness, we often displays two records for one sale: the MLS record and the public record.

    Public Records for 175 South River Road

    Taxable ValueLand$15,142Additions$132,550Total$147,692
    Tax Record2023$38,939 ($3,245 / month)
    Home Facts
    Lot Size10,816 SqFtStyleMulti-Family Res (5+ Units)Year Built1959CountyCOOKAPN09-17-200-096

    Schools near 175 South River Road

    This home is within Community Consolidated School District 62.
    Rating
    School
    Type
    Grades
    Distance
    Public - K to 5
    Public - 6 to 8
    Public - 9 to 12
    Public - K to 8
    Rating
    School
    Distance
    North Elementary School
    PublicK to 5

    Chippewa Middle School
    Public6 to 8

    Maine West High School
    Public9 to 12

    Iroquois Community School
    PublicK to 8

    School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

    Neighborhood Map and Transit

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    No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

    Listing Courtesy of Goldbay Advisors Inc.

    Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 05/05/2021 06:34 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.