Grant Avenue Apartments | 737-747 Grant Ave
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Grant Avenue Apartments 737-747 Grant Ave
30 Unit Block of Flats £1,408,410 (£46,947/Unit) Chicago Heights, IL 60411
Investment Highlights
- Property & Rent Enhancements: With over $400,000 invested in recent upgrades, including the renovation of 21 out of 30 units
- Separately Metered Utilities: Tenants pay for their electricity and gas usage as each apartment is separately metered.
- Assumable Loan at 4%: The property comes with an assumable $760,000 loan at a 4% interest rate, locked in through 2034.
Executive Summary
The Grant Avenue Apartments, located 30 miles south of downtown Chicago in Chicago Heights, IL, offer a well-located, income-producing investment in a growing suburban market. The property consists of 30 residential units across three stories, with a unit mix that includes 6 studio apartments (500 sq. ft.), 18 one-bedroom/one-bath units (650 sq. ft.), and 6 two-bedroom/one-bath units (800 sq. ft.). Built in 1968 on a 0.5-acre lot, the building features 30 parking spaces.
Recent upgrades totaling over $400,000 include renovations to 21 of the 30 units with new flooring, appliances, lighting, and updated cabinets and bathroom vanities. Additionally, the property received a new roof in 2020, hallway improvements, and a re-paved parking lot. Buyers have the option to assume a $760,000 loan on the property at an attractive 4% fixed interest rate through 2034.
Located near major employers such as Ford Motor Company’s Stamping Plant and St. James Hospital, the apartments are ideal for local workers. The property is also close to Bloom High School, Prairie State College, and shopping options like Walmart Supercenter and Lincoln Mall, offering a blend of convenience and suburban appeal.
Recent upgrades totaling over $400,000 include renovations to 21 of the 30 units with new flooring, appliances, lighting, and updated cabinets and bathroom vanities. Additionally, the property received a new roof in 2020, hallway improvements, and a re-paved parking lot. Buyers have the option to assume a $760,000 loan on the property at an attractive 4% fixed interest rate through 2034.
Located near major employers such as Ford Motor Company’s Stamping Plant and St. James Hospital, the apartments are ideal for local workers. The property is also close to Bloom High School, Prairie State College, and shopping options like Walmart Supercenter and Lincoln Mall, offering a blend of convenience and suburban appeal.
Property Facts
| Price | £1,408,410 | Building Class | C |
| Price Per Unit | £46,947 | Lot Size | 0.51 AC |
| Sale Type | Investment | Building Size | 21,000 SF |
| No. Units | 30 | Number of Floors | 3 |
| Property Type | Residential | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Apartment Style | Low Rise |
| Price | £1,408,410 |
| Price Per Unit | £46,947 |
| Sale Type | Investment |
| No. Units | 30 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.51 AC |
| Building Size | 21,000 SF |
| Number of Floors | 3 |
| Year Built | 1962 |
| Parking Ratio | 1/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 6 | - | 600 |
| 1+1 | 18 | - | 700 |
| 2+1 | 6 | - | 800 |
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Bike Score ®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 32-17-416-017-0000 | Improvements Assessment | £22,508 |
| Land Assessment | £2,198 | Total Assessment | £24,706 |
PROPERTY TAXES
Parcel Number
32-17-416-017-0000
Land Assessment
£2,198
Improvements Assessment
£22,508
Total Assessment
£24,706
Contacts
-
Maira Mancia -
Reid Bennett, CCIM -
Dan Short -
Cody Doran -
SVN | Chicago Commercial
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Grant Avenue Apartments | 737-747 Grant Ave
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