4425 Harlem Ave Stickney, IL 60402-4289

Property Details for 4425 Harlem Ave

Year built

1961

Lot size

0.25 lot acres

Property size

8,080 SF

Property type

Retail residential properties

APN

19-06-307-027

APU

1906307027

Description

This 6,970 sq ft mixed-use building in Stickney, IL, offers a compelling owner-user or investment opportunity. The property, built in 1961 and renovated in 2023, features ten units: six one-bedroom/one-bathroom apartments and four office suites, currently boasting 100% occupancy. Recent capital improvements include a new roof, soffits, fascia, HVAC systems, staircases, and sprinkler system. The building benefits from flexicore construction, 14 parking spaces, and a prime location on Harlem Avenue, providing high visibility and convenient access to major transportation routes, including I-290 and I-55, as well as Metra stations. The current NOI is $78,251, with a pro-forma NOI of $100,342, reflecting significant value-add potential through rental increases, utility bill back implementation, and a potential zoning appeal. The asking price is $1,400,000, representing a 5.59% cap rate and a pro-forma cap rate of 7.17%. The 0.25-acre lot is zoned 5-17. This turnkey property presents a strong return on investment with potential for further growth. Individual HVAC systems are in place, with tenant-paid heat. Amenities include master key entry and common area bathrooms. The building's location offers proximity to local amenities such as parks, schools, and public transportation.