Amber Bruce
Description
37-39 W. 14th Place is a well-located 6-unit multifamily property situated in Chicago Heights, just off Route 30 - Lincoln Highway with convenient access to retail corridors, public transportation, and major south suburban employment centers. The property benefits from its proximity to Prairie State College, Franciscan Health Olympia Fields, and nearby industrial and logistics hubs that continue to support workforce housing demand throughout the area. The property features a unit mix of (1) two-bedroom / one-bathroom unit and (5) three-bedroom / one- bathroom units, offering larger floor plans that appeal to long-term tenants and families. While the interiors have seen more limited renovations compared to other properties in the portfolio, the asset has maintained stable occupancy and presents investors with future value-add potential through continued unit upgrades. Recent capital improvements include a newer boiler and extensive tuck-pointing work, helping support the long-term physical integrity of the property. Ownership currently provides heat, while tenants are responsible for electric. The asset offers investors an opportunity to acquire a stable workforce housing property in a strong south suburban location with operational upside over time.
Property Highlights
Property Type: Multi Unit - Multiple
General Information
County: Cook
Listed By:
Sperry Van Ness
312-676-1866
MRED MLS
MLS ID: 12694277
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37 W 14th Place, Chicago Heights, IL 60411.
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $550,000 | $550,000 | $550,000 |
| Down Payment | $110,000 | $19,250 | $137,500 |
| Monthly Mortgage Amount | $2,673 | $3,281 | $3,398 |
| Taxes | $765 | $765 | $765 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $242 | $0 |
| Monthly Estimated Total | $3,598 | $4,448 | $4,323 |
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