14046 Atlantic Ave Riverdale, IL 60827
- Apartment buildings
- 36,288 SF
Current Use by Public Records
- Apartment buildings
Property Details for 14046 Atlantic Ave
- Year built
- 1963
- Property size
- 36,288 SF
- Property type
- Apartment buildings
Description
This exceptional value-add opportunity presents a portfolio of three adjacent apartment buildings totaling 36 units in Riverdale, Illinois (Cook County, zip code 60827). Located at 14046 S Atlantic Ave, and nearby addresses on School St, this Class C property boasts a combined 36,288 square feet. Currently 100% vacant, this presents a unique chance for significant value creation. The buildings, constructed in 1963, offer a mix of 19 one-bedroom/one-bathroom and 17 two-bedroom/one-bathroom units, ranging from 1,000 to 1,200 square feet. The largest building, approximately 15,900 square feet, features a consistent floor plan, averaging four units per floor. With a net rentable square footage of approximately 33,650 square feet, this property is priced at $950,000. The strategic location and current vacancy allow for immediate implementation of medium-lift renovations to increase rental income. This is an ideal investment for an owner seeking to capitalize on a significant value-add opportunity in a stable market. The potential for unit conversions (e.g., converting one-bedroom units into two-bedroom units) further enhances the property's long-term income potential. This portfolio offers a compelling combination of scale, location, and upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Riverdale
- County
- Cook
- State
- Illinois
- Longitude
- -87.6285
- Latitude
- 41.6391
