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$1,500,000

171 N 25th Avenue
Melrose Park, Illinois 60160

Closed / MLS #11796776 / Multiple Family / Melrose Park
Listing information updated 5/21/2024 at 10:03am
Buyer suffered cold feet is your opportunity now to be the new buyer/owner. **Price Reduction** Prime Melrose Park Multi-Family consisting of a 2-story brick & stone building containing 20 residential apartments (made up of 10 one-bedroom and 10 two-bedroom apartments). All have leases mostly in place early 2024. Has 22 parking spaces. Healthy generating NOI and with further room to grow by decreasing expenses and bringing units closer to market rent. In addition, the 8,000 square foot basement can be sub divided for further rental income to either tenant storage, or two businesses. Plus, even more additional income is available by finishing the coin operated laundry room on 1st floor by adding 2 washers / 2 dryers, and if separate office space is rented out. This property is ideally located with many employment opportunities, retail, and restaurants all within short walking distance. If you're looking to add a cash cow to your portfolio, this is the one.
Exterior Type:
Brick,Stone
Basement:
Unfinished,Exterior Access,Bathroom Rough-In,Concrete Block,Stone/Rock,Storage Space,Walk-Up Access
Water Front:
No
Square Feet:
N/A
Acreage:
0.42
Built:
1945
Cooling System:
Wall Sleeve
Stories:
2
Roof:
Composition,Membrane,Rubber,Varies
Current Use:
Multi-Family
Potential Use:
Commercial
Zoning:
MULTI
Current Net Income:
$130,841
Unit 1:
5 room(s) / 1 bed(s) / 1 bath(s)
Unit 2:
6 room(s) / 2 bed(s) / 1 bath(s)
Tax Amount:
$34,993
Tax Year:
2021
Zip Code:
60160
City:
Melrose Park
County:
Cook

Listing Office: Baird & Warner

Listing Office Phone: 847.392.1855

Disclaimer: The data relating to real estate for sale on this website comes courtesy of Midwest Real Estate Data, LLC as distributed by MLS GRID. Real estate listings held by brokerage firms other than @properties are marked with the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 5/21/2024 at 10:03am. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some listings have been excluded from this website.

Melrose Park, IL

Melrose Park is characterized by tree-lined streets, well-manicured homes, and a vibrant business community. Residents are brought together by events such as the Taste of Melrose Park, which brings local food vendors to the streets for a community block party. The annual Labor Day Weekend event also...

Metra

Metra
Milwaukee District West line at Melrose Park Metra
Metra
Union Pacific West line at Melrose Park
$339,413
Average Sale Price
49
Average Days On The Market
97%
Sales Prices VS. List Price
Data represents the community area’s average over the past 12 months. All information deemed reliable, but not guaranteed.
Map of 171 N 25th Avenue, Melrose Park, IL 60160
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171 N 25th Avenue, Melrose Park, IL 60160 is a multiple family which sold for $1,500,000. This multiple family has been listed on @properties Christie's International Real Estate since June 1st, 2023 and was built in 1945. The nearest transit stops include Melrose Park Metra Union Pacific West line.

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