2421 West 123rd Street

Blue Island, IL 60406

$640,000
Last Sold Price
16
Beds
8
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

"As-Is" Sale of this multifamily asset at 2421 123rd Street in Blue Island, IL. Brand New Roof finished 11/15/2023, high quality materials used. The property consists of eight apartments. All units are two-bedroom/one-bath. The majority of the property is leased by a corporate entity that has just renewed its master lease agreement. 2421 123rd Street will effectively provide an investor with a stabilized asset featuring eight tenants. Multiple units have been renovated, and additional value can be..."As-Is" Sale of this multifamily asset at 2421 123rd Street in Blue Island, IL. Brand New Roof finished 11/15/2023, high quality materials used. The property consists of eight apartments. All units are two-bedroom/one-bath. The majority of the property is leased by a corporate entity that has just renewed its master lease agreement. 2421 123rd Street will effectively provide an investor with a stabilized asset featuring eight tenants. Multiple units have been renovated, and additional value can be added through updating the remaining units to collect higher rents. The property has not had any vacancy in the last 16 years. The building is located just north of downtown Blue Island and the Olde Western Avenue Historic District featuring several retail shops and restaurants. 2421 123rd Street is located three blocks from the Blue Island Metra station at the Western Avenue Pace bus stop. This asset is being offered at a 7.72% CAP rate with tremendous cash flow and future upside.
  1. Listed by Dominick Cannata • Brookline Real Estate LLC

Sold By Baird & Warner

Property Details for 2421 West 123rd Street

Area
Blue Island
Township
Worth
Zoning
MULTI

Location

Add your commute
LISTING UPDATED: 01/25/2024 01:12 PM

Property Details for 2421 West 123rd Street

StatusClosed
MLS #11766902
Days on Market275
Taxes$18,827 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Garden Complex
Year Built1968
Lot Size0.18 AC / 7,874 SF
CountyCook County

Location

Add your commute

Building Information for 2421 West 123rd Street

Stories-Residences8Year Built1968Building Size-Lot Size0.18 AC / 7,874 SF

Payment Calculator

$5,062 per month

30 year fixed, 7.25% Interest

Principal and Interest

$3,493

Property Taxes

$1,569

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2421 West 123rd Street

General Information
Location and General Information
  • Information: 24-Hr Notice Required,Profit & Loss Avalia
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Window Unit(s)
  • Heat/Ventilation: Baseboard
  • Num of Baths: 8.0
Exterior Features
  • Building Unit Info: Storage/Locker Area
Property/Lot Information
  • Tenant Pays: Electricity, Other
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Garden Complex
  • Lot Dimensions: 50 X 125
  • Lot Size Square Feet: 7874.0
  • Stories: 2
  • Exterior Building Type: Brick
  • Construction: Brick
  • Roof Structure: Pitched
  • Building Area Total: 8560
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 12
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 8
Income & Expenses
  • Electric Expense: $916.00
  • Fuel Expense: $8,634.00
  • Gross Income: $95,940.00
  • Gross Scheduled Income: $97,140.00
  • Insurance Expense: $5,266.00
  • Maintenance Expense: $798.00
  • Janitor Expense: 0
  • Total Monthly Income: 7995
  • Net Operating Income: $51,568.00
  • Operating Expense: $45,572.00
  • Other Expense: $1,870.00
  • Trash Expense: $2,901.00
  • Water Sewer Expense: $6,208.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 8
Unit 2
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 0
Unit 3
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 0
Unit 4
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 2421 West 123rd Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 2421 West 123rd Street

Taxable ValueLand$4,724Additions$34,676Total$39,400
Tax Record2019$17,753 ($1,479 / month)
Home Facts
Lot Size7,874 SqFtStyleMulti-Family Res (5+ Units)Year Built1968CountyCOOKAPN24-25-403-039

Schools near 2421 West 123rd Street

This home is within Cook County School District 130.
Rating
School
Type
Grades
Distance
Public - K to 3
Public - 4 to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Paul Revere Primary School
PublicK to 3

Paul Revere Intermediate School
Public4 to 5

Veterans Memorial Middle School
Public6 to 8

Dd Eisenhower High School (Campus)
Public9 to 12

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.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Brookline Real Estate LLC

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.