2384 Good Speed Ln Schaumburg, IL 60194

Property Details for 2384 Good Speed Ln

Year built

1980

Property size

11,800 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a portfolio of two three-story apartment buildings located at 2384 and 2396 Good Speed Lane in Schaumburg, Illinois. The portfolio comprises twelve residential units: six two-bedroom/one-bathroom units and six one-bedroom/one-bathroom units, totaling 11,800 square feet of living space within 12,262 square feet of gross building area. Each unit boasts a private balcony or patio, and the property includes 24 on-site parking spaces. Built in 1980, these well-maintained buildings benefit from a cost-effective homeowner's association covering exterior maintenance, roof, windows, water, and utilities, minimizing management responsibilities. The property enjoys a prime location, just 0.6 miles from Barrington Road, a major commercial corridor with numerous national retailers and restaurants. Convenient access to public transportation (Pace Bus route 554), major highways (IL Routes 58 and 72, and Interstate 90), and proximity to O'Hare International Airport (13 miles) further enhance its appeal. The surrounding area offers a wealth of amenities, including the Arthur L. Janura Nature Preserve, schools, and a large business and industrial district providing a stable employment base. The portfolio's current rents are below market value, presenting a significant opportunity to increase income in a high-demand area. The asking price is $1,870,000, with a current Net Operating Income (NOI) of $84,348. This is an ideal investment for those seeking strong returns in a desirable Chicago suburb with a high average household income of $139,014 within a 3-mile radius.