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Key Details
Property Type Multi 5 Units, Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12419256
Maintenance Fees $8,500
Year Built 1962
Annual Tax Amount $35,670
Tax Year 2023
Lot Dimensions 65' X 200'
Property Sub-Type Multi Family 5+
Property Description
2241 Mannheim Rd is a 22-unit California-style property in the Northwest Chicago suburb of Melrose Park. The building features a rare unit mix of 21 studios and one (1) one-bedroom apartment, just minutes from O'Hare International Airport with easy access to major highways and retail centers. The building has been consistently well maintained, with recent improvements including tuckpointing and reinforcement of the balconies. A majority of the units have been renovated, while the remaining units present a clear value-add opportunity through cosmetic upgrades. Most units are heated with electric baseboards, while approximately one-third are serviced by a boiler system with hot water baseboard radiators. 2241 Mannheim Rd offers strong in-place cash flow with immediate upside. All tenants are on month-to-month leases, providing flexibility to increase rents or renovate units as needed.
Location
State IL
County Cook
Area Melrose Park
Interior
Fireplace N
Building
Dwelling Type Multi Family 5+
Level or Stories 3
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Listed by Charles Vasbinder • Juniper Real Estate LLC