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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

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.
More about this property
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