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    343 Mill Rd Addison, IL 60101

    Sponsored
    For Sale
    $1,700,000

    12-Unit Multifamily, High Demand Area

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    339
    This exceptional investment opportunity presents a well-maintained, free-standing concrete building located at 343 N Mill Road in Addison, Illinois. The property comprises twelve rental units, specifically ten two-bedroom apartments and two one-bedroom apartments. Many units have undergone recent updates, ensuring a high standard of tenant appeal and maximizing rental income. The building itself is in excellent condition, reflecting consistent and diligent maintenance. Currently operating at full occupancy, this property benefits from its location in a high-demand rental market, guaranteeing strong cash flow. Its strategic position offers convenient access to a variety of amenities, including shopping centers, schools, employment opportunities, and efficient public transportation. The property's concrete construction contributes to its durability and longevity, making it a sound and stable investment for the discerning buyer. This is a turnkey operation, ready to generate immediate returns. The asking price is $1,700,000. This represents a compelling opportunity to acquire a fully occupied, well-maintained multifamily property in a prime Addison location. The property's strong tenant base and desirable location combine to create a highly attractive investment prospect with significant potential for long-term growth and profitability. Serious inquiries are encouraged.

    Property Features for 343 Mill Rd

    General Information

    Property type
    Other commercial real estate

    Building Details

    Year Built
    1970
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Addison
    County
    DuPage
    State
    Illinois
    Longitude
    -88.00291
    Latitude
    41.93364

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    FAQs

    What type of property is this?
    Commercial real estate - 12-Unit Multifamily, High Demand Area
    Where is this commercial real estate located?
    The property is located at 343 Mill Rd Addison, IL.
    What is the asking price?
    The asking price for this property is $1,700,000.
    (847) 352-5200
    Request Owner's contact information
    343 Mill Rd Addison, IL 60101
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    343 Mill Rd Addison, IL 60101
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