Multifamily Property for Sale in Calumet Park, IL

  • Price: $5.9M
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Calumet Park, IL 60827
  • Size: 60,459 SF

Description

Midwest Investment Advisors with KW Commercial and Keller Williams ONEChicago is pleased to present the exclusive offering of Vermont Riverbend Residences, a 60-unit apartment community located at 1025–1049 W. Vermont St, Calumet Park, IL 60827 near the Little Calumet River. This investment opportunity consists of 3 contiguous, 20-unit yellow brick flexicore buildings totaling 60,459 SF and offering a desirable unit mix, strong in-place income, and significant upside potential through a light value-add repositioning strategy. The property offers 68 off-street parking spaces, private balconies for each unit, and convenient on-site laundry facilities. The community features a well-maintained exterior with excellent curb appeal in a quiet residential neighborhood, supported by recent capital improvements including newer roofs, upgraded common areas, and unit renovations with new flooring, appliances, and fixtures. Unit Mix & Rents (20) Two-Bedroom / One-Bath Units – Current Average Rent: $1,316 | Market Average Rent: $1,525 (40) One-Bedroom / One-Bath Units – Current Average Rent: $1,091 | Market Average Rent: $1,275 Financial Highlights Current NOI: $484,137 | Pro Forma NOI: $579,895 List Price: $5,880,000 ($98,000 per unit | $97.26 per SF) Current Cap Rate: 8.23% | Pro Forma Cap Rate: 9.86% Current GRM: 7.01 | Pro Forma GRM: 6.28 Occupancy: 98% (1 available unit out of 60) Vermont Riverbend Residences presents investors with a stabilized, cash-flowing asset in a strong rental market, with the added advantage of immediate light value-add potential to push rents and increase returns without major capex. Building SF: 60459 | Land Size: 44957.0 SF | Listing Type: FOR SALE

Market Context

This multifamily in Calumet Park, IL is listed for sale at $5,880,000 across 60,459 SF. It is offered at an approximate 8.2% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 20 days. Compare it against other multifamily listings for sale in Calumet Park, IL — <a href="/search/sale/multifamily/illinois/calumet-park">view the full market</a>.

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