(3) 12 Unit Buildings | Value-Add
3 Multifamily Properties Offered at $950,000 in Riverdale, IL



INVESTMENT HIGHLIGHTS
- 3 Buildings | 36 Units Total
- Approximately 33,650 NRSF Total for all Three Buildings
- Two Boiler Buildings & One with Individual Furnaces
- (19) 1 Bed 1 Bath & (17) 2 Bed 1 Bath Units
- 100% Vacant | Value-Add Opportunity
EXECUTIVE SUMMARY
Jameson Commercial Real Estate has been exclusively engaged in marketing three 12-unit apartment buildings in Riverdale, Illinois, which are strategically located. The buildings are situated at 14044 S. Atlantic Ave., 14101 S. School St., and 14044 S. School St., and are essentially side by side. All three buildings are currently vacant, and there is a great opportunity to add value by completing medium-lift construction
work and leasing the building to market rents. The total unit count is (19) 1-bedroom 1-bath and (17) 2-bedroom 1-bath units. The total square footage for all three buildings is approximately 36,288, with a net rentable square feet of approximately 33,650. The largest building, situated at 14044 S. School, spans approximately 15,900 sf, with each floor plate measuring around 5,300 sf. With an average of four units per floor, the units range from 1,000 to 1,200 sf. This building presents a unique opportunity for a new owner to convert the one-bedroom units into two bedrooms and the two-bedroom units into three bedrooms, offering the potential for increased rental income.
work and leasing the building to market rents. The total unit count is (19) 1-bedroom 1-bath and (17) 2-bedroom 1-bath units. The total square footage for all three buildings is approximately 36,288, with a net rentable square feet of approximately 33,650. The largest building, situated at 14044 S. School, spans approximately 15,900 sf, with each floor plate measuring around 5,300 sf. With an average of four units per floor, the units range from 1,000 to 1,200 sf. This building presents a unique opportunity for a new owner to convert the one-bedroom units into two bedrooms and the two-bedroom units into three bedrooms, offering the potential for increased rental income.
TAXES & OPERATING EXPENSES (PRO FORMA - 2025) |
ANNUAL |
---|---|
Gross Rental Income |
$429,600
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Other Income |
$12,000
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Vacancy Loss |
$35,328
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Effective Gross Income |
$406,272
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Taxes |
$137,697
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Operating Expenses |
$118,902
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Total Expenses |
$256,599
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Net Operating Income |
$149,673
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PROPERTY FACTS
PROPERTIES
PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
---|---|---|---|---|
14101 S School St, Riverdale, IL 60827 | Multifamily | 9,513 SF | 1965 | - |
14044 S Atlantic Ave, Riverdale, IL 60827 | Multifamily | 10,875 SF | 1966 | - |
14044 S School St, Riverdale, IL 60827 | Multifamily | 15,900 SF | 1964 | - |
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