Masonry 4-Unit Residential
1106 Alima Terrace La Grange Park, IL 60526
1106 Alima Terrace, La Grange Park, IL, 60526
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For Sale
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Fully leased, well-maintained four-unit masonry building with central heat and air, garage parking, and on-site laundry.
Property Size7,332 SF
Lot Size0.17 Acres
Price / SF$129.43
Days on Market115
Property Features for 1106 Alima Terrace
General Information
- Standard status
- Active
- Size
- 7,332 SF
- Lot size
- 0.17 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1953
Listing agency
Keller Williams Commercial
Listed by
Adam Fortino · License #IL 475.135644
Source
Crexi
Added: Mar 31 Updated: Jul 22 at 7:31PM Checked: Jul 22 at 7:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Commercial
Investment Insights
Based on property information with market context.
1106 Alima Terrace is a well-maintained four-unit multifamily property built in 1953 with durable masonry construction. The building sits on a 7,332 SF lot and is described as fully leased with long-term tenants. Unit interiors are supported by central heat and air, with forced-air electric/gas systems. Recent improvements noted include newer electric panels and meters.
The property provides a mix of garage and surface-level parking, along with tenant storage and on-site laundry. It is positioned for convenient access, described as being near multiple interstates and just minutes from downtown La Grange’s restaurants and shopping.
Overall, the asset is presented as stable with in-place cash flow, and the current rents are described as below market, offering a value-add opportunity.
The property provides a mix of garage and surface-level parking, along with tenant storage and on-site laundry. It is positioned for convenient access, described as being near multiple interstates and just minutes from downtown La Grange’s restaurants and shopping.
Overall, the asset is presented as stable with in-place cash flow, and the current rents are described as below market, offering a value-add opportunity.
Key Highlights
- Fully leased 4‑unit multifamily building built in 1953 with durable masonry construction
- Central heat and air with forced‑air electric/gas in each unit
- Newer electric panels and meters
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $166.3k | $22.68 |
| − Vacancy | −$11.6k | −$1.59 |
| EGI | $154.6k | $21.09 |
| − OpEx | −$69.6k | −$9.49 |
| NOI | $85.1k | $11.60 |
7,332 SF · lease $22.68/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.36M
$1.19M – $1.59M
NOI $95,139 @ 7.0% cap · market cap 10.03%
Second Best
Apartment 5plus
$1.22M
$1.06M – $1.42M
NOI $85,057 @ 7.0% cap · market cap 8.96%
Theoretical Best
Office A
$2.53M
$2.21M – $2.95M
NOI $177,198 @ 7.0% cap · market cap 18.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Fully leased, well-maintained four-unit masonry building with central heat and air, garage parking, and on-site laundry.
Where is this quadplex located?
The property is located at 1106 Alima Terrace La Grange Park, IL.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Fully leased 4‑unit multifamily building built in 1953 with durable masonry construction; Central heat and air with forced‑air electric/gas in each unit; Newer electric panels and meters
