459 Oak Street $1,499,000


    459 Oak Street Des Plaines, IL 60016

    • 0.31 Acres
    • Commercial
    • MLS# 11468733
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    Views: 8 Days On Site: 141

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    Property Details

    Rare opportunity to invest in a completely renovated and fully occupied 8 units in a terrific Des Plaines location and assume a low 4.630% interst rate! Gutted to the studs in 2018, 459-465 Oak St received over $400,000 in unit and building systems improvements, including NEW KITCHENS, NEW BATHROOMS, NEW ENGINEERED HARDWOOD FLOORING & INSTALLATION OF IN-UNIT W/D. Systems improvements include NEW PLUMBING, ELECTRIC, HVAC & WATER HEATERS! The property has ZERO DEFERRED MAINTENANCE and presents a fantastic opportunity for long-term cash flow. All utilities, including water, are individually metered for maximum landlord profitability. Easy access to highways, the train station, Metropolitan Square, and many other dining & entertainment options. DEBT MUST BE ASSUMED outstanding debt is 1,080,000. 25% Down required. It's a 10 yr Note, 30 yr Amort. Annual Interest Rate: 4.630%.

    • General Features
      • Additional Parcels Y/N Yes
      • Area Des Plaines
      • County Or Parish Cook
      • Electric Expense 1000
      • Fuel Expense 0
      • Gross Income 132360
      • Gross Scheduled Income 132360
      • Net Operating Income 84282
      • Number Of Units Total 8
      • Operating Expense 39135
      • Operating Expense1 3000
      • Tax Annual Amount 19885
      • Tax Year 2020
      • Township Maine
      • Year Built 1956
      • Zoning MULTI
    • Building Features
      • Construction Materials Brick
      • Cooling Central Air
      • Electric Circuit Breakers
      • Roof Composition
      • Stories 1
      • Utilities Sanitary Sewer,Water-Municipal
    • Property Features
      • Lot Size Acres 0.31
      • Lot Size Dimensions 100 X 136
      • Lot Size Square Feet 13650
      • Parcel Number 09174030520000
      • Parking Total 5



    60016 (Des Plaines) Demographics

    42 Median Age
    5,565 Population Density (per sq. mile)
    50% College Educated
    $67,404 Estimated Median Income
    15,812 Estimated Total Home Owners
    7,538 Estimated Total Renters
    68% / 32% Estimated Owner / Renter Divide
    3 Estimated Average Household Size
    59,663 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $245,000 Median Sales Price
    53 Homes Sold
    91 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $1,499,000
        7/25/2022 12:18:15 AM Status Changed Source: Multiple Listing Service New Value: Active
        7/19/2022 3:48:00 PM New in Database Source: Multiple Listing Service New Value: $1,499,000

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        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.