Value-Add 10 Unit Multi- Family Building in Waukegan

No Longer For Sale
115 South Ave.
Waukegan, IL 60085
8,735 SF
Multi-Family
  • Apartment building with potential to add value in Waukegan

The Details

  • 8,735 SF multi-family building
    • Eight 2-bed apartments
    • Two 1-bed apartments
    • Leased garage parking
  • Potential to add value thru leasing
  • Includes on-site laundry
  • Some units recently updated
  • Many long-term tenants
  • Just off Sheridan Rd.
  • Near Family Dollar, parks and more
  • Current Income: $62,220
  • Pro Forma NOI: $55,585
  • Land Area: 10,644 SF
  • Zoning: I-2

An 8,735 square foot multi-family building near Sheridan Rd is available for sale. The property is divided into eight 2-bed and two 1-bed apartments and there is an on-site laundry. Some of the units have been recently updated. The property has potential to add value through leasing; many of the current residents are long-term tenants. Close to Family Dollar, several parks and more, this is a convenient location in Waukegan. This is a great opportunity for an investor looking to add value.

Located on Lake Michigan 35 miles north of Chicago, Waukegan is the largest city in Lake County. The city has a revitalized downtown and is the ninth largest city in the state.