4831 Belmont Rd, Downers Grove, IL for sale

Investment Overview

Essex Realty Group, LLC has been exclusively engaged to market for sale 4831 Belmont Road, a five (5) unit townhome-style apartment building in Downers Grove, IL. Built in 2008, the property has three (3) 2-bed/2.5-bath units and two (2) 2-bed/3.5-bath units averaging 2,000 SF, two with finished basements. Inside, each unit has hardwood floors, island kitchens with granite counters and stainless steel appliances, and primary suites with jetted tubs, glass-enclosed showers and walk-in closets. The units benefit from individual HVAC, individual hot water heaters, in-unit laundry and an attached two-car garage, which adds to the units' appeal for renters. Ownership has continued to reinvest in the property, installing a new perimeter fence in 2024, regrassing the grounds, and replacing the appliances in the units. The property has been 100% occupied under current ownership. Ownership reports no vacancy since construction, and the multi-year tenancies in place support the 3% vacancy factor used in the underwriting. Current rents average about $2,490 per month, roughly 12% below market. Marking all five units to market rents of $2,750 and $2,950 raises gross income to $169,800 and brings forecasted NOI to about $115,700. Units of this size and finish are hard to find as rentals in Downers Grove. Additional upside is available through a ratio utility billing system (RUBS). The owner currently pays water, sewer and trash, about $7,100 per year, and comparable rental properties in the market bill these costs back to tenants. Recovering them through RUBS would add roughly $118 per unit per month in income and raise forecasted NOI to about $122,600. The enclosed common backyard also offers an easy amenity play: converting it into a shared barbecue and outdoor space would set the property further apart from competing rentals and add value for a new owner. That gives a new owner steady income now and a clear path to higher rents with little capital needed. The property also gives a buyer a second exit. All five units sit on one tax parcel today, but the building already lives like individual townhomes: each unit has its own entrance, attached garage, furnace, water heater and in-unit laundry. A buyer could subdivide the parcel, create separate PINs and sell the units one at a time as leases expire, subject to Village of Downers Grove approval. Townhomes in this market are selling between $410,000 and $440,000. The property is a 0.28-mile walk from the Belmont Metra station on the BNSF line, which runs directly to Chicago Union Station. It is also 0.4 miles, about an 8 to 9 minute walk, from the Cathy Mahoney Recreation Center, the Downers Grove Park District's nearly 70,000 SF fitness and recreation facility. Downtown Downers Grove is about 1.4 miles away and Advocate Good Samaritan Hospital about 3 miles. Yorktown Center, I-355 and I-88 are all within minutes, putting the Oak Brook and East-West Tollway office corridors and corporate employers such as Dover Corporation within easy reach. New luxury supply is also coming: the 138-unit development at 750 Curtiss Street is slated for spring 2027, a sign of strong rental demand in the village. 4831 Belmont Road combines newer construction, large townhome units and below-market rents in one of DuPage County's most established suburbs.

Investment Highlights

• Rarely Available 2008-Built Townhome-Style Apartment Building
• Oversized Two-Bedroom Units Averaging 2,000S F, Two with Finished Basements
• Attached Garages, In-Unit Laundry and Individual HVAC in Every Unit
• Approximately 14% Rental Upside to Market, Forecasted NOI of $115,300
• 100% Occupied with Minimal Owner-Paid Utilities
• 0.28-Mile Walk to the Belmont Metra Station (BNSF Line to Union Station)