5611 Saint Charles Rd
- 7.26% Forecasted Cap Rate and 7.43 GRM at Stabilized Rents
- 18-Unit Portfolio Across Three Adjacent Buildings Offering Immediate Scale
- Favorable Unit Mix - 84% Two-Bedroom Units
- Prime Transit Access - Less Than Half a Mile to the Berkeley Metra Station (UP-W Line), 29 Minutes to Downtown Chicago
- Active TIF District and Village Corridor Plan Supporting Continued Investment Along St. Charles Road
Property Description
Essex Realty Group, LLC has been exclusively engaged to market for sale the Berkeley Portfolio, an 18-unit, three-building multifamily portfolio located in Berkeley, IL. The portfolio comprises three brick buildings, 5607 Berkeley Ave, 5611 Berkeley Ave, and 1400 N Hillside Ave. The unit mix consists of one (1) studio, two (2) one-bedroom/one-bath units, and fifteen (15) two-bedroom/one-bath units. The portfolio benefits from a highly desirable unit mix that consistently drives strong tenant demand and retention in the western suburbs. Current in-place rents have not been adjusted to reflect prevailing market conditions, creating significant value-add potential for an incoming owner. Two-bedroom rents average ~$1,450 per month versus market rents of $1,600, representing approximately 12% in rental upside across fifteen units. At stabilization, the portfolio is forecasted to generate a 7.26% cap rate and a 1.60x debt service coverage ratio, reflecting exceptional operational upside and strong financing flexibility. The portfolio is ideally situated along St. Charles Road, less than half a mile from the Berkeley Metra station on the Union Pacific West Line, offering a 29-minute commute to Ogilvie Transportation Center in downtown Chicago. Residents benefit from immediate access to both I-294 and I-290, as well as proximity to Triton College, Loyola Medicine at Gottlieb Memorial Hospital, and major national retailers along the North Avenue and St. Charles Road corridors. The Village of Berkeley has invested in the revitalization of the St. Charles Road corridor through an updated Corridor Plan and an active Tax Increment Financing district, signaling continued public investment in the area's commercial and residential appeal.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,500,000 |
| No. of Units: | 18 |
| Year Built: | 1961 |
| Lot Size: | 0.25 Acres |
| Opportunity Zone: | No |
| Price per unit: | $138,889 |
| Property Website | Click Here |
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