7324 Oakwood AveLyons, IL 60534

Property Details for 7324 Oakwood Ave

Year built

1969

Property type

Commercial real estate

Description

This exceptional 12-unit multifamily property located at 7324 Oakwood Avenue in Lyons, Illinois, presents a compelling investment opportunity. The building comprises six two-bedroom, one-bathroom units and six one-bedroom, one-bathroom units, all featuring updated kitchens and bathrooms with ceramic tile and updated cabinetry. Hardwood floors grace most units, with two units offering carpeting. Each unit boasts a private balcony, providing residents with outdoor space. A partial basement offers twelve convenient storage lockers for residents, along with two owner-provided washers and two dryers. The property benefits from a recently replaced roof (installed four years ago), a comprehensive fire alarm system, and ample parking with 22 spaces. All second and third-floor units include dishwashers. Currently, rents are below market value, presenting significant potential for increased income and strong returns on investment. This well-maintained property offers a blend of updated amenities and substantial upside potential, making it an attractive addition to any investment portfolio. The property is situated in Lyons, IL, and is classified as General Commercial. The asking price is $1,529,000. The lot size is 0 acres.

Location Insight

City

Lyons

County

Cook

State

Illinois

Latitude

41.8204

Longitude

-87.806

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