Well-Maintained Multifamily
2130 122nd St, Blue Island, IL 60406
345-unit apartment complex in Blue Island, Illinois.
Type:Multifamily
Property size:
169,641 SFPrice / SF:
$144/SF- Added:
- Feb 19, 2026
- Days on Market:
- 91
- Last Refresh:
- Mar 17 at 1:15 pm
Property Features for 2130 122nd St
General Information
- Standard status
- Active
- Size
- 169,641 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1969
Listing agent Lee Kiser License #471014529
Listing office Kiser Group
Listing date Feb 19, 2026
Source Crexi
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 Kiser Group
HighLights
- 345‑unit multifamily community offering immediate scale in the Chicagoland market.
- Located steps from the Metra train station, providing convenient access to downtown Chicago in approximately 30 minutes.
- Over $3.1 million in capital improvements completed in the past four years.
- Mix of studio, one, and two‑bedroom apartments.
- Practical floor plans featuring open kitchens and spacious bedrooms.
- On‑site laundry facilities.
Overview
Blue Station Apartments is a well-maintained, 345-unit multifamily community located in Blue Island, Illinois. The property features a mix of studio, one, and two-bedroom apartments. Over the past four years, the community has undergone over $3.1 million in capital improvements. The property's location is near the Metra train station and public transportation, providing access to downtown Chicago in approximately 30 minutes. The apartments feature practical floor plans with open kitchens and spacious bedrooms. On-site laundry facilities are available. The property is located among nearby shopping and residential neighborhoods.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$21.87M
NOI $1,967,975 @ 9.00% cap · cautious / downside scenario
Moderate
$28.11M
NOI $1,967,975 @ 7.00% cap · market / base-case scenario
Aggressive
$39.36M
NOI $1,967,975 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $3.85M | $22.68 |
| − Vacancy | −$269.3k | −$1.59 |
| EGI | $3.58M | $21.09 |
| − OpEx | −$1.61M | −$9.49 |
| NOI | $1.97M | $11.60 |
169,641 SF · lease $22.68/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$28.11M
$24.60M – $32.80M
NOI $1,967,975 @ 7.0% cap · market cap 8.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$58.57M
$51.25M – $68.33M
NOI $4,099,851 @ 7.0% cap · market cap 16.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Blue Station Apartments
Apartment Building
Location Insight
- Map
- Local Demand
- City
- Blue Island
- County
- Cook
- State
- Illinois
- Longitude
- -87.6745731
- Latitude
- 41.6719766
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 345-unit apartment complex in Blue Island, Illinois.
Where is this apartment building located?
The property is located at 2130 122nd St Blue Island, IL.
What is the asking price?
The asking price for this property is $24,500,000.
What are key features of this property?
This property features: 345‑unit multifamily community offering immediate scale in the Chicagoland market.; Located steps from the Metra train station, providing convenient access to downtown Chicago in approximately 30 minutes.; Over $3.1 million in capital improvements completed in the past four years.
