Stony Creek Multi-Family Portfolio Property: 10310 S. Mayfield, Oak Lawn, IL 60453 (8 Units) 10326 S. Mayfield, Oak Lawn, IL 60453 (8 Units) Total Buildings: 18,735 Approx. SF Total Land Size: 0.59 Acres Purchase Price: $1,580,000 Price per Unit: $98,750 Blended Cap: 7.56% Gross Income: $180,180 Total Units: 16 4 Garages Expenses: $60,754 Unit Mix: 14-2 bed / 1 bath Net Income: $119,426 1-1 Bed / 1 Bath 1-4 Bed / 2 Bath & Bsmt Occupancy: 100% Demographics Snapshot: 0-1 Mil 1-2 Mile 2-3 Mile Pop.: 22,442 47,293 79,287 Avg. Inc.: $69,561 $72,811 $81,111 Offering Summary: A rare two building offering located at 10310 & 10326 S. Mayfield Ave., Oak Lawn, IL, in highly desired Stony Creek area consisting of two fully leased eight flat buildings with excellent unit mix and extremely easy to rent. A total of 14 two bedrooms / 1 one bedroom and 1 four bedroom unit with basement. Long term tenants with desire to stay and upside potential with approximately 40% of the units below market. Located within walking distance to Stony Creek Golf Course and City Of Oak Lawn Park district and schools (Ridge Lawn Elementary School, HL Richards High School Campus and much more (Dunkin' Donuts, 7-Eleven and 7-Eleven. Nearby restaurants include Chen's House, Upper Crust Pizza and Beggars Pizza. Serious buyer s only. Please call or e-mail for more information at the contact information below. Agent Owned.
Stony Creek Multi-Family Portfolio Aerial Map Stony Creek Golf Course 10326 Mayfield 10310 Mayfield 10310 Mansfield 10310 Mansfield (Can Be Included ) 10326 Mayfield 10310 Mayfield Stony Creek Golf Course 10310 Mansfield (Can be Included)
10326 Mayfield, Oak Lawn, IL 8 Flat Gas Building Purchase Price: $790,000 Unit Price: $98,750 per unit Gross Income: $98,760 Expenses: $32,550 Net Income (Current): $66,210 Cap Rate: 8.4% *Proforma Income: $79,260 Proforma Cap: 10% Current Rent *Proforma Rent Unit Mix: 7 2 bed /1 bath $ 900 975 $975-1,050 1 4 bed /4 bath + bsmt $ 1,200 $1,400-1,600 (possible duplex down unit) Parking: Agent Owned Outdoor 8 Parking Spaces Garage N/A Building Size: 9,465 SF Land Size: Approx. 100 x 134 / 0.31 Acr. Yr. Built: Approx. 1975 PIN #: 24-17-211-010-0000 Real Estate: 2016 Tax: $14,433 Notable Improvements/Equipment Units Date Installed New Sewer Main (outside) 1 2016 Asphalt Patch and Seal: 1 2016 Heat Pump 1 2013 Dual Water Heater 1 2014 Fridge 4 2007-2015 AC Units 7 2010-2016 Dryer (Coin Operated) 1 2016 Washer (Coin Operated) 1 2009 LOMA Exemption on record
10326 Mayfield, Oak Lawn, IL 2017 Income / Expense LEASING STATUS UNIT Unit Type Tenant Name Start End MONTHLY ANNUAL *Unit 1-N 4 Bdr / 2 Bath / Basement Lassak 2007 7/1/2018* $1,200 $14,400 Unit 1-S Basharahil / Salem 2013 8/31/2018 $950 $11,400 Unit 2-E Boujemaa 2013 10/31/2018 $900 $10,800 Unit 2-W Barnes 10/1/2016 9/30/2017 $975 $11,700 Unit 2-S Raai 2016 7/31/018 $980 $11,760 Unit 3-E Malkawi / Alrahal 2014 7/31/2018 $975 $11,700 Unit 3-W Shalabi aleem 2/25/2017 8/31/2017 $950 $11,400 Unit 3-S Lyons 2008 8/31/2018 $950 $11,400 $350 $4,200 Loundry (Building Owned: 2 Washers / 2 Dryers) Est. Avg. Rents: $985 GROSS INCOME: $8,230 $98,760 Actual 2017 $1,185.25 $204 $14,433 $2,448 Est. Est. Est. $322.67 $66.60 $320.21 $89.00 $16.67 $25.00 $76.00 $68.83 $40.42 $68.94 $11.67 $199.75 $3,872 $799 $3,842 $1,068 $200 $300 $912 $826 $485 $827 $140 $2,397 TOTAL EXPENSES $2,712 $32,550 NET OPERATING INCOME $5,518 $66,210 EXPENSES: Real Estate Tax Insurance 2016 Taxes (Per Final Appeal) Heating Energy Electricity Water & Sewer Scavenger Pest Control Operating Supplies Cleaning Services Snow Removal Grounds & Landscaping City Registration / Inspections Fee Bank Fees Other / Misc. * This oversized four bedroom / two bathroom + basement unit has been rented to family friend at a significantly discounted rate of $850 per month for the past 10 years. Seller will master lease the difference in rent till 7/1/18. Income & Expense
10326 Mayfield, Oak Lawn, IL 8 Flat Gas Building Stony Creek Golf Course 10326 Mayfield 10326 Mayfield Stony Creek Golf Course
10326 Mayfield, Oak Lawn, IL Plat of Survey
10310 Mayfield, Oak Lawn, IL 8 Flat All Electric Building Purchase Price: $790,000 Unit Price: $98,750 per unit Gross Income: $81,420 Expenses: $28,204 Income: $53,216 Cap Rate: 6.73% *Proforma Rent: $61,559 Proforma Cap: 7.8% Current Rent *Proforma Rent Unit Mix: 7 2 bedroom /1 bath $ 750 850 $ 875-900 1 1 bedroom / 1 bath $ 700 $ 800 Parking: Agent Owned Outdoor 8 Parking Spaces Garage 4 Semi Private Garage Units $50-75 Building Size: 9,270 SF Land Size: Approx. 90 x 134 / 0.28 Acr. Yr. Built: Approx. 1974 PIN #: 24-17-211-009-0000 Real Estate: 2015 Tax: $14,746 2016 Tax: $15,187 Notable Improvements/Equipment Units Date Installed Building Sewer Main (crawl Space) 1 2014 Shingled Roof 1 2014 Garage Door Openers: 4 2016 Range 6 2014-2016 Fridge 4 2014-2016 AC 4 2014-2016 Dryer (Coin /Electric) 1 2016 Intercom Panel 1 2015 LOMA Exemption on record
10310 Mayfield, Oak Lawn, IL Income & Expense 2017 Income & Expense LEASING STATUS UNIT Unit Type Tenant Name Start End MONTHLY ANNUAL Unit 1-S 1 Bdr / 1Bath Chudy 9/12/2016 8/31/2017 $700 $8,400 Unit 1-E Fuller & Arcand 9/1/2016 8/31/2018 $820 $9,840 Unit 2-E Keeler 8/1/2016 7/31/2017 $750 $9,000 Unit 2-N Muthana/Almaflehi 2013 5/31/2018 $800 $9,600 Unit 2-S Becola 2013 8/31/2018 $800 $9,600 Unit 3-E Fiorenza / Wesolowski 7/9/2016 8/30/2017 $850 $10,200 Unit 3-N Sulieman / Qoran 10/1/2016 9/30/2017 $840 $10,080 Unit 3-S Ali / Agha 3/4/2017 2/28/2018 $850 $10,200 Garage 1 Est. $50 $600 Garage 2 Rented - 3N - Garage 3 Rented - 2S - Garage 4 Est. $50 $600 Laundry (Building Owned: 1 Washes / 2 Dryers) Est. $275 $3,300 Avg Rents: $801.25 GROSS INCOME: $6,785 $81,420.00 EXPENSE : Real Estate Tax 2016 Taxes (Per Final Appeal) $1,265.55 $15,187 Insurance Actual 2017 $236.83 $2,842 Heating Energy N/A - - Electricity $58 $697 Water & Sewer $319 $3,829 Scavenger $91 $1,094 Pest Control Est. $13 $150 Operating Supplies Est. $17 $200 Cleaning Services $76 $912 Snow Removal $40 $485 Grounds & Landscaping $69 $826 City Registration / Inspections Fee $61 $727 Bank Fees $9 $105 Other / Misc. Est. $96 $1,150 TOTAL EXPENSE: $2,350.35 $28,204 NET OPERATING INCOME: $4,434.65 $53,216
10310 Mayfield, Oak Lawn, IL 8 Flat All Electric Building Stony Creek Golf Course 10310 Mayfield 10310 Mayfield Stony Creek Golf Course
10310 Mayfield, Oak Lawn, IL Plat of Survey