1300 Jefferson St Des Plaines, IL 60016

This exceptional 16-unit Class A apartment building, located at 1300 Jefferson Street in Des Plaines, Illinois, presents a compelling investment opportunity. Boasting 24,000 square feet, this meticulously renovated property offers a blend of luxury and convenience. The building underwent a complete transformation, converting a prior office building into 16 condo-quality apartments. Improvements include upgraded electrical and water service, remodeled common areas, a new HVAC system, and a new wet sprinkler system. Roof sections were replaced or resurfaced, and the exterior received a two-tone decorative dryvit finish. Parking areas were also upgraded. The units themselves are exquisitely finished, featuring a mix of two and three-bedroom layouts, each with two or three bathrooms respectively. All units include brand new stainless steel appliances, in-unit washer/dryers, hardwood floors, and upgraded bathrooms with double vanity sinks and large glass-enclosed showers. The property's prime location offers easy access to the Metra, downtown Des Plaines shopping, and major highways (I-294 and I-90), as well as proximity to O'Hare International Airport. With a strong NOI of $322,076 and a 5.70% cap rate, this turnkey asset is poised for continued success in a thriving suburban Chicago market. The asking price is $4,900,000. A video tour is available online.