314 E Park Ave, Libertyville, IL for sale

Investment Overview

Essex Realty Group, LLC has been exclusively engaged to market for sale 314 E Park Ave, a nine (9) unit apartment building located in Libertyville, Illinois. The property contains nine (9) one-bedroom units, seven (7) surface parking spaces, and a two-car garage. Ownership has maintained the major building systems on a rolling basis, including the installation of two (2) gas forced-air furnaces and two (2) water heaters approximately five years ago. In addition, the building's electrical service was updated approximately ten (10) years ago. The property also has substantial rental upside. In-place rents average $969 per month against the markets' average of $1,344. Location Summary The property sits four-tenths of a mile from downtown Libertyville and its 70-plus shops and restaurants along Milwaukee Avenue, six-tenths of a mile from the Libertyville Metra station on the Milwaukee District North line, which runs 37 weekday trains to Union Station in as little as 62 minutes, and six-tenths of a mile from Advocate Condell Medical Center, the only Level I trauma center in Lake County and an employer of roughly 2,000. Hollister Inc.'s global headquarters is 2.4 miles away and the I-94 Tri-State Tollway is under two miles east.

Investment Highlights

• Value-Add Potential with Rehab and Modernization of Units
• Recent Capital Investment: Two Furnaces and Two Water Heaters Approximately Five Years Old, Plus Updated Electrical Service
• Prime Location: Six-Tenths of a Mile to Both the Libertyville Metra Station and Downtown Libertyville
• Top-Tier Schools: Libertyville High School Ranks in the Top 25 in Illinois
• Lake County Employment Depth: 51% of Illinois Life-Science Jobs and the Midwest's Second-Largest Fortune 500 Concentration