Multifamily Property in Lansing,
For Sale
Contact for pricing
18429 Torrence Ave, Lansing, IL 60438
Six-unit building with income potential in Chicagoland area.
Property Size5,400 SF
Price / SF$83.33
Days on Market169
Property Features for 18429 Torrence Ave
General Information
Standard status
Active
Size
5,400 SF
Class
C
Total Parking Spaces
12
Property subtype
Multifamily
Zoning
R-3
Occupancy
83%
Investment Type
Value Add
Building Details
Year Built
1965
Buildings
1
Stories
3
Units
6
Listing Agency:
GC Realty and Development
Listed By:
Duke Dennis · License #IL 475.207333
Source:
Crexi
Added: Mar 4
Changed: Aug 8
Last Checked: Aug 19 at 8:05PM
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 GC Realty and Development
Investment Insights
Based on property information with market context.
This multifamily property features a 6-unit brick building. The property is currently 83.3% occupied, generating a rent roll of $5,340, with an additional $1,200 in annual laundry income. There is potential for increased revenue through lease optimization to achieve market rents totaling approximately $7,800 monthly. Recent capital improvements include a new flat roof and boiler replacement. The property features a mix of one and two-bedroom units and well-maintained common areas. There are 12 on-site parking spaces available. The property is located within the Thornton Fractional South High School District and offers convenient access to major highways. The property is suitable for investors looking to maximize returns in the Chicagoland area.
Key Highlights
- 6‑unit brick building in a strong rental market
- Significant upside potential through lease optimization to achieve $7,800 monthly market rents
- Recent capital improvements: new flat roof and boiler replacement
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
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Business Placement
Demographics for 60438, IL
29,661
Population
12,230
Households
2.4
Avg Household Size
40
Median Age
28%
College-Educated
93%
High-School Grad
8.1 sq mi
ZIP Area
3,662
Density / Sq Mi
$72,043
Median Household Income
$44,632
Median Earnings
$1,271
Median Rent
$168,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit building with income potential in Chicagoland area.
Where is this apartment building located?
The property is located at 18429 Torrence Ave Lansing, IL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 6‑unit brick building in a strong rental market; Significant upside potential through lease optimization to achieve $7,800 monthly market rents; Recent capital improvements: new flat roof and boiler replacement
