Seller's Agent in 2025
Ralph Binetti
RE/MAX Suburban
(630) 707-1776
3 in this area
180 Total Sales
465 N Mill Rd Addison, IL 60101
--
Bed
--
Bath
--
Sq Ft
0.47
Acres
About This Home
As of October 2025This is a very solid, income-producing 12-unit building that's easy to manage. With 10 two-bedroom units and 2 one-bedroom units-all fully leased-this property offers strong, steady rental income and an excellent cap rate. It's all brick, has been well cared for by a hands-on landlord, and sits in a convenient location near expressways, shopping, and parks. What makes this opportunity even more attractive is the significant amount of capital improvement already completed, eliminating the need for major work in the near future. Seven of the twelve units have been remodeled between 2016 and 2024, with the others updated through the years (all but one). In addition, the property features a brand new 26-space parking lot completed in 2025, a new A.O. Smith water heater (2024), upgraded attic insulation with R-38 Energy 360 (2020), a new boiler and control system (2020), and a new roof installed in 2018. There's no association, plenty of parking, double wide lot and minimal ongoing maintenance-making this an extremely investor-friendly property. It's rare to find a building this well-positioned, both physically and financially. If you're looking for a strong-performing asset in a great location with long-term upside, don't miss out on this one.
Last Agent to Sell the Property
RE/MAX Suburban License #471004724 Listed on: 07/01/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $27,738
Year Built
- Built in 1970
Lot Details
- 0.47 Acre Lot
- Lot Dimensions are 140x145
Home Design
- Brick Exterior Construction
Interior Spaces
- 3-Story Property
- Exterior Basement Entry
Utilities
- No Cooling
- Radiator
Community Details
Overview
- 12 Units
Building Details
- Electric Expense $903
- Fuel Expense $4,440
- Insurance Expense $5,997
- Other Expense $680
- Water Sewer Expense $16,547
- Operating Expense $59,025
- Gross Income $209,400
- Net Operating Income $156,568
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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 |
|---|---|---|---|---|
| 10/24/2025 10/24/25 | Sold | $1,946,700 | 0.0% | -- |
| 07/27/2025 07/27/25 | Pending | -- | -- | -- |
| 07/01/2025 07/01/25 | For Sale | $1,946,700 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Ralph Binetti
-
Santino Binetti
Seller Co-Listing Agent in 2025
Santino Binetti
RE/MAX Suburban
(630) 940-9751
1 in this area
20 Total Sales
-
Marek Milewski
Buyer's Agent in 2025
Marek Milewski
xr realty
(773) 814-3444
2 in this area
60 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 12400822
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