11902 Longwood Dr Blue Island, IL 60406
- Apartment buildings
- 4,025 SF
- 0.08 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 11902 Longwood Dr
- Year built
- 1964
- Lot size
- 0.08 lot acres
- Property size
- 4,025 SF
- Property type
- Apartment buildings
Description
This fee-simple, 5-unit apartment building in Blue Island, Illinois presents a compelling value-add opportunity. The three-story brick building, totaling 4,025 square feet on a 0.08-acre lot, boasts 100% occupancy and a strong NOI of $34,013, yielding a 7.82% cap rate. The property features one 2-bedroom/1-bathroom unit and four 1-bedroom/1-bathroom units, each individually metered for electricity (tenant responsibility). Landlord covers heat, hot water, and sewer. Built in 1964, this well-maintained property benefits from its durable brick construction, minimizing maintenance costs. Its prime location at the intersection of Longwood Drive and W 119th Street places it in a dense residential area, close to Western Avenue's commercial corridor, offering easy access to numerous restaurants, retailers (including Jewel-Osco, Walgreens, and Old Navy), and various amenities. Convenient public transportation is readily available, including Metra, CTA, and Pace bus routes, as well as Interstate 57. The property is also within a mile of several parks and golf courses. Strong demographics, with over 148,100 people within a 3-mile radius and an average household income exceeding $90,785, further enhance its investment potential. The current rents are below market, presenting a significant opportunity to increase revenue. The asking price is $435,000, or $87,000 per unit.
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
- Blue Island
- County
- Cook
- State
- Illinois
- Longitude
- -87.6754
- Latitude
- 41.6771
