For Auction

Riverdale Apartments | 18-Unit Value-Add

70-74 E 138th St,
Riverdale, IL 60827Represented by
Landmark Commercial Real Estate

Asset Snapshot

Real Estate
Asset Type
Multifamily
Property Type
Garden
Multifamily Subtype
0.28 Acres
Land Area
18 Units
Unit Count
17,178 SF
Property Size
60%
Occupancy

Offering Summary

Investment Highlights: 

  • Infill Multifamily 20 Miles South of Chicago: 18-unit brick asset on 0.28 AC within the 9.4M-population Chicago MSA.
  • 40% Vacancy Fuels Immediate Lease-Up Upside: Seven vacant units offer direct NOI recovery with no added capital required.
  • In-Place Rents Trail Market by 14%: Average $935/unit vs. $1,298 comp average — a $363/unit monthly upside across 18 units.
  • NOI More Than Doubles Over 7-Year Hold: Year 1 NOI of $76,761 grows to $156,293 as rents normalize to market.
  • Metra Rail Station Just 0.5 Miles Away: Direct commuter access to downtown Chicago supports steady renter demand.
  • Four Units Backed by Section 8 Contracts: Government-backed rent streams secure payment certainty on 22% of units.


Offering Summary:

RealINSIGHT Marketplace, in partnership with Landmark Auction Services, is pleased to present 70–74 E 138th St, Riverdale, IL 60827, an 18-unit workforce multifamily asset situated within the Chicago-Naperville-Elgin MSA. The 17,178 SF brick building sits on 0.28 acres zoned R-3 and comprises 18 two-bedroom, one-bath units of approximately 600 SF each. The property currently operates at roughly 60% occupancy, generating $134,520 in annual in-place rent, with four units operating under Section 8 contracts. The vacancy gap — approximately 7 units — represents immediate lease-up potential at a market average of $1,298/unit, a meaningful premium to the current average in-place rent. The Year 1 proforma projects NOI of $76,761, scaling to $156,293 by Year 7 as occupancy and rents normalize. Located 20 miles south of downtown Chicago with Metra commuter rail access 0.5 miles from the site and interstate access to I-57, I-94, and I-294 within 12 miles, Riverdale benefits from a renter-majority population and housing costs well below broader Chicago-area comps.
 

Due Diligence

Transaction Managers

Dean Lewis
Marketplace
(800) 915-7015dean.lewis@realinsight.com
Eric Kim
Marketplace
(800) 915-7015ekim@realinsight.com

Platform Fee

Buyer pays a minimum platform fee of 5% or $25,000 at closing.

How it Works

Learn about bidding, reserve prices, and closing.

Read the auction guide

Auctioneer

Scott Bowers
c/o Fisher Auction Company Inc.
License: 040000273

Need Help?

Your transaction managers are your first point of contact for any auction or process questions. For additional support:

info@rimarketplace.com800-915-7015

Sold Subject To

This auction has ended. Interested in additional investment opportunities?

Investment Sales Brokers

Eli Neuman
Landmark Commercial Real Estate
(248) 928-6535Eneuman@landmarkcres.com
Jack Melton
Landmark Commercial Real Estate
(313) 287-4673Jmelton@Landmarkcres.com
Brian Brockman
Bang Realty
IL License: 471020548

Disclaimers

The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.