7324 Oakwood Ave Lyons, IL 60534
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 7324 Oakwood Ave
- Year built
- 1969
- Property type
- Commercial real estate
Description
This exceptional 12-unit multifamily property located at 7324 Oakwood Avenue in Lyons, Illinois, presents a compelling investment opportunity. The building comprises six two-bedroom, one-bathroom units and six one-bedroom, one-bathroom units, all featuring updated kitchens and bathrooms with ceramic tile and updated cabinetry. Hardwood floors grace most units, with two units offering carpeting. Each unit boasts a private balcony, providing residents with outdoor space. A partial basement offers twelve convenient storage lockers for residents, along with two owner-provided washers and two dryers. The property benefits from a recently replaced roof (installed four years ago), a comprehensive fire alarm system, and ample parking with 22 spaces. All second and third-floor units include dishwashers. Currently, rents are below market value, presenting significant potential for increased income and strong returns on investment. This well-maintained property offers a blend of updated amenities and substantial upside potential, making it an attractive addition to any investment portfolio. The property is situated in Lyons, IL, and is classified as General Commercial. The asking price is $1,529,000. The lot size is 0 acres.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lyons
- County
- Cook
- State
- Illinois
- Longitude
- -87.806
- Latitude
- 41.8204
