2241 N Mannheim RD new

Melrose Park,IL 60164

$ 1950000

- Bed

0 Bath

- SqFt


Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12419256

Maintenance Fees $8,500

Year Built 1962

Annual Tax Amount $35,670

Tax Year 2023

Property Sub-Type Multi Family 5+

Property Description

2241 Mannheim Rd is a 22-unit California-style property in the Northwest Chicago suburb of Melrose Park. The building features a rare unit mix of 21 studios and one (1) one-bedroom apartment, just minutes from O'Hare International Airport with easy access to major highways and retail centers. The building has been consistently well maintained, with recent improvements including tuckpointing and reinforcement of the balconies. A majority of the units have been renovated, while the remaining units present a clear value-add opportunity through cosmetic upgrades. Most units are heated with electric baseboards, while approximately one-third are serviced by a boiler system with hot water baseboard radiators. 2241 Mannheim Rd offers strong in-place cash flow with immediate upside. All tenants are on month-to-month leases, providing flexibility to increase rents or renovate units as needed.

Location

State IL

County Cook

Area Melrose Park

Building

Dwelling Type Multi Family 5+

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