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1722 Mannheim Road

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Address: 1722 Mannheim Rd, Stone Park, IL 60165, USA

Chicago & Midwest + Apartment Buildings

Created date: April 1, 2025

Date last updated: April 1, 2025

Diverse Unit Mix: Seven (7) Studios, Twenty-Three (23) 1Bd/1Ba, Three (3) 2Bd/2Ba, One (1) Office with Potential for Two Additional Dwelling Units
24 of the 33 Units Have Recently Been Renovated
In-Place Rents Approximately 18% Below Market, Providing Immediate Upside
Property Improvements – Parking Lot Replacement (2022) and Fully Equipped With Fire Sprinklers
Strong Value-Add Potential Through Additional Unit Conversion and Rent Growth

Property Description

Essex Realty Group, LLC has been exclusively engaged to market for sale 1722 Mannheim Road, a well-positioned 34-unit apartment building in Stone Park, IL. The unit mix consists of seven (7) studios, twenty-three (23) one-bedroom/one-bathroom units, three (3) two-bedroom/two-bathroom units, and one (1) office space with potential for conversion into two additional dwelling units. The property has undergone extensive renovations, with approximately 70% of the units updated. Currently, in-place rents are approximately 18% below market, providing a clear opportunity for immediate revenue growth. The property also features an assumable loan with a 4.46% fixed interest rate, maturing in 2032, offering a favorable financing option for investors. 1722 Mannheim Road presents a compelling investment opportunity with a mix of updated and value-add units, strong operational fundamentals, and additional income potential through unit expansion. According to FEMA, the property is located in a 1% Annual Chance Flood Hazard zone. There have been no reported floods under current ownership

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Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$2,950,000
No. of Units:	34
Opportunity Zone:	No
Price per unit:	$86,765
Property Website	Click Here