800 Graceland AveDes Plaines, IL 60016

Property Details for 800 Graceland Ave

Year built

1970

Lot size

0.28 AC

Property size (Sq ft)

14,200 SF

Property type

Apartment buildings

Description

This exceptional Class A, 16-unit apartment building presents a compelling investment opportunity in Des Plaines, Illinois. Located at 800 Graceland Ave, this three-story building boasts 14,200 square feet of net rentable space situated on a 0.28-acre lot. Completely renovated in 2018, the property features 100% occupancy and a strong NOI of $224,331 (pro-forma NOI: $223,377), resulting in a 6.41% cap rate (pro-forma 6.38%). The extensive 2018 renovations included new kitchens with stainless steel appliances, engineered hardwood flooring, updated bathrooms, new doors, and fresh finishes throughout. Significant upgrades also encompassed the building's infrastructure, with 100% new HVAC, plumbing, electrical systems, and water heaters. The roof and windows were also replaced in 2018. Each unit includes in-unit washer/dryer and dishwasher. Individual gas, electric, and water meters are installed. The property benefits from a prime location near highways, public transportation, dining, and entertainment options. An assumable loan is available with a $2,694,422 UPB at a favorable 4.44% interest rate, maturing on July 1, 2031. The building is not located in a flood zone. This meticulously maintained property offers a blend of modern amenities and a desirable location, making it an ideal investment for discerning buyers. The asking price is $3,500,000, with a price per unit of $218,750 and a price per square foot of $246.48. The property is zoned MF (Multifamily). On-site parking is available.

Location Insight

City

Des Plaines

County

Cook

State

Illinois

Latitude

42.0385

Longitude

-87.8926

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].