1619 Thacker StDes Plaines, IL 60016

Property Details for 1619 Thacker St

Year built

1970

Lot size

0.26 AC

Property size (Sq ft)

16,080 SF

Property type

Apartment buildings

Description

This exceptional Class A, 14-unit apartment building presents a compelling investment opportunity in Des Plaines, IL. Boasting 16,080 square feet of net rentable space, the property features a desirable mix of unit sizes: eleven two-bedroom/one-bathroom units, two one-bedroom/one-bathroom units, and one three-bedroom/two-bathroom unit. Completely renovated in 2018, the building showcases modern kitchens with stainless steel appliances, updated bathrooms, engineered hardwood flooring, and new doors and finishes throughout. Significant upgrades also include a complete overhaul of the HVAC, plumbing, electrical systems, and water heaters. The property benefits from 100% occupancy, generating a current NOI of $202,104 and a pro-forma NOI of $219,684, representing a 6.32% cap rate and a pro-forma cap rate of 6.87%, respectively. Situated on a 0.26-acre lot, the building offers ample parking with 16 spaces (six surface and ten covered). The asking price is $3,200,000, translating to $199 per square foot and $228,571.43 per unit. An attractive assumable loan with a 4.37% interest rate and a maturity date of September 1, 2031, is available. The property's prime location in Des Plaines offers convenient access to major highways, public transportation, dining, and entertainment options. The roof and windows were also replaced during the 2018 renovation. Individual gas, electric, and water meters are installed in each unit. In-unit washer/dryer and dishwashers are included. The building is not located in a flood zone. This is a turnkey investment with strong cash flow and significant upside potential.

Location Insight

City

Des Plaines

County

Cook

State

Illinois

Latitude

42.0372

Longitude

-87.8842

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].