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    2909 Willow Ln Zion, IL 60099

    For Sale
    $1,950,000

    16-Unit Multifamily, High Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    316
    This exceptional 16-unit multifamily property presents a compelling investment opportunity in Zion, IL. Situated on a spacious 1.97-acre lot at 2909 Willow Lane, this property consists of two 8-unit buildings, each offering eight 2-bedroom, 1-bathroom units. Currently fully occupied with a consistent rental history, the property boasts below-market rents, presenting significant upside potential for a discerning investor. Ample parking is provided with 36 spaces available for residents. Tenants are responsible for their own electricity, while the owner covers water, sewer, and trash services. Each unit includes a living room and dining room, enhancing tenant appeal. Convenience is further enhanced by on-site laundry facilities. Safety is prioritized with fire sprinkler systems in both buildings. Recent improvements include the addition of newly constructed handicap-accessible ramps and substantial upgrades to 10 of the units. This property offers a strong foundation for immediate income generation and long-term appreciation, making it an ideal addition to any investment portfolio. The property's current occupancy and below-market rents create a unique opportunity for immediate cash flow and future rental increases. The substantial recent upgrades and ongoing maintenance demonstrate a commitment to property value and tenant satisfaction. This is a turnkey investment ready for a new owner to capitalize on its inherent potential.

    Property Features for 2909 Willow Ln

    General Information

    Property type
    Other commercial real estate
    Lot Size
    85,813 SF

    Building Details

    Year Built
    2004
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Zion
    County
    Lake
    State
    Illinois
    Longitude
    -87.85319
    Latitude
    42.46574

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    FAQs

    What type of property is this?
    Commercial real estate - 16-Unit Multifamily, High Potential
    Where is this commercial real estate located?
    The property is located at 2909 Willow Ln Zion, IL.
    What is the asking price?
    The asking price for this property is $1,950,000.
    (217) 960-8605
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    2909 Willow Ln Zion, IL 60099
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    Zion, IL 60099
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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
    2909 Willow Ln Zion, IL 60099
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