Six-Unit Apartment
14618 KEYSTONE AVE Midlothian, IL 60445
14618 KEYSTONE AVE, Midlothian, IL, 60445
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For Sale
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Six-unit apartment building with three fully rehabbed units and remaining units positioned for rent growth.
Property Size4,600 SF
Price / SF$151.09
Days on Market23
Property Features for 14618 KEYSTONE AVE
General Information
- Standard status
- Active
- Size
- 4,600 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1963
Listing agency
Real Realty Inc.
Listed by
James Clough · License #IL - 475.147791
Source
Crexi
Added: Jun 30 Updated: Jul 22 at 2:05AM Checked: Jul 22 at 2:05AM
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 Real Realty Inc.
Investment Insights
Based on property information with market context.
Real Realty presents a six-unit apartment building at 3625 147th St in Midlothian, IL (address listed as 14618 Keystone Ave, Midlothian, IL 60445). The property is made up of five two-bedroom, one-bath apartments and one one-bedroom, one-bath apartment.
Three of the units are described as fully rehabbed, while the remaining three are positioned for additional renovation to pursue $200+ per unit in rent premiums post-renovation. Building systems include 80% copper plumbing throughout and a Weil-McLain tankless boiler to help manage gas usage.
The listing notes this can be purchased in combination with a similar six-flat in Midlothian (also referenced as 3625 147th St along with this property).
Three of the units are described as fully rehabbed, while the remaining three are positioned for additional renovation to pursue $200+ per unit in rent premiums post-renovation. Building systems include 80% copper plumbing throughout and a Weil-McLain tankless boiler to help manage gas usage.
The listing notes this can be purchased in combination with a similar six-flat in Midlothian (also referenced as 3625 147th St along with this property).
Key Highlights
- 6‑unit apartment building at 3625 147th St, Midlothian, IL, built in 1963
- Unit mix: five 2‑bedroom/1‑bath and one 1‑bedroom/1‑bath
- Three units are fully rehabbed; remaining units positioned for higher rent after renovation
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 | $104.3k | $22.68 |
| − Vacancy | −$7.3k | −$1.59 |
| EGI | $97.0k | $21.09 |
| − OpEx | −$43.7k | −$9.49 |
| NOI | $53.4k | $11.60 |
4,600 SF · lease $22.68/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$762.3K
$667.1K – $889.4K
NOI $53,364 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,172 @ 7.0% cap · market cap 16.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Six-unit apartment building with three fully rehabbed units and remaining units positioned for rent growth.
Where is this apartment building located?
The property is located at 14618 KEYSTONE AVE Midlothian, IL.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 6‑unit apartment building at 3625 147th St, Midlothian, IL, built in 1963; Unit mix: five 2‑bedroom/1‑bath and one 1‑bedroom/1‑bath; Three units are fully rehabbed; remaining units positioned for higher rent after renovation
