Seller's Agent in 2024
Dominick Cannata
Brookline Real Estate LLC
(630) 930-8470
6 in this area
27 Total Sales
2421 W 123rd St Blue Island, IL 60406
16
Beds
8
Baths
8,560
Sq Ft
7,874
Sq Ft Lot
About This Home
As of January 2024"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.
Last Agent to Sell the Property
Brookline Real Estate LLC License #471017554 Listed on: 04/24/2023
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $18,827
Year Built
- Built in 1968
Lot Details
- 7,874 Sq Ft Lot
- Lot Dimensions are 50 x 125
Home Design
- Garden Apartment
- Brick Exterior Construction
- Pitched Roof
Interior Spaces
- 8,560 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 16 Bedrooms
- 8 Bathrooms
Utilities
- Window Unit Cooling System
- Baseboard Heating
Listing and Financial Details
- Tenant pays for electricity
Community Details
Overview
- 8 Units
Building Details
- Electric Expense $916
- Fuel Expense $8,634
- Insurance Expense $5,266
- Maintenance Expense $798
- Other Expense $1,870
- Trash Expense $2,901
- Water Sewer Expense $6,208
- Operating Expense $45,572
- Gross Income $95,940
- Net Operating Income $51,568
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 01/24/2024 01/24/24 | Sold | $640,000 | -3.0% | $75 / Sq Ft |
| 11/27/2023 11/27/23 | Pending | -- | -- | -- |
| 11/16/2023 11/16/23 | For Sale | $660,000 | 0.0% | $77 / Sq Ft |
| 10/10/2023 10/10/23 | Pending | -- | -- | -- |
| 09/27/2023 09/27/23 | Price Changed | $660,000 | -4.2% | $77 / Sq Ft |
| 09/08/2023 09/08/23 | Price Changed | $689,000 | -3.6% | $80 / Sq Ft |
| 08/29/2023 08/29/23 | Price Changed | $715,000 | -3.2% | $84 / Sq Ft |
| 07/13/2023 07/13/23 | Price Changed | $739,000 | -2.6% | $86 / Sq Ft |
| 04/25/2023 04/25/23 | For Sale | $759,000 | -- | $89 / Sq Ft |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Dominick Cannata
-
Juancarlos Vergara
J
Buyer's Agent in 2024
Juancarlos Vergara
Baird Warner
(708) 263-7655
1 in this area
1 Total Sale
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11766902
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