O'hare Glenlake Condominiums | 9504 Glenlake Ave
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O'hare Glenlake Condominiums 9504 Glenlake Ave
83 Unit Apartment Building $15,451,480 CAD ($186,162 CAD/Unit) 6.76% Cap Rate Rosemont, IL 60018
Investment Highlights
- A+ Workforce Housing Location
- Continued Commercial Development in Rosemont
- Large Courtyard Can be Amenitized
- Diverse Unit Mix in Property of Scale
- Meaningful Rent Increases Possible via Unit Renovations
Executive Summary
Kiser Group is pleased to present the O'Hare Glenlake Condominiums for a Section 15 condominium deconversion sale. Surrounded by O'Hare, the Donald Stephens Convention Center, the Allstate Arena, The Fashion Outlets and River's Casino, the property benefits from an insatiable need for workforce housing. 80% of the units are currently used as rentals, paving the way for a smooth transition from condominiums to an apartment building. The property's scale and proximity to numerous demand generators, coupled with the ability to increase rents through renovations and creation of amenity space in the courtyard present new ownership with a truly unique opportunity.
Property Facts
| Price | $15,451,480 CAD | Apartment Style | Garden |
| Price Per Unit | $186,162 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 1.37 AC |
| Cap Rate | 6.76% | Building Size | 79,900 SF |
| No. Units | 83 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment |
| Price | $15,451,480 CAD |
| Price Per Unit | $186,162 CAD |
| Sale Type | Investment |
| Cap Rate | 6.76% |
| No. Units | 83 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.37 AC |
| Building Size | 79,900 SF |
| No. Stories | 3 |
| Year Built | 1965 |
Unit Amenities
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 30 | - | - |
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O'hare Glenlake Condominiums | 9504 Glenlake Ave
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