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: 7.9% Gross Income: $188,750 Total Units: 16 4 Garages Expenses: $62,947 Unit Mix: 14-2 bed / 1 bath Net Income: $125,153 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 30% 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: $102,960 Expenses: $35,049 Net Income (Current): $67,911 Cap Rate: 8.6% *Proforma Income: $79,260 Proforma Cap: 10% Current Rent *Proforma Rent Unit Mix: 7 2 bed /1 bath $ 925 1,000 $1,00-1,100 1 4 bed /4 bath + bsmt $ 1,400 $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 Income & Expense 2018 Income / 2017 Expense *Unit 1-N LEASING STATUS UNIT Unit Type Tenant Name Start End MONTHLY ANNUAL 4 Bdr / 2 Bath / Basement Lassak 2007 7/1/18* $1,400 $16,800 Unit 1-S 2 Bdr / 1 Bath Basharahil / Salem 2013 8/31/2018 $950 $11,400 Unit 2-E 2 Bdr / 1 Bath Boujemaa 2013 10/31/2018 $925 $11,100 Unit 2-W 2 Bdr / 1 Bath Barnes/Fisher 2017 6/30/2019 $1,025 $12,300 Unit 2-S 2 Bdr / 1 Bath Raai 2016 7/31/018 $980 $11,760 Unit 3-E 2 Bdr / 1 Bath Malkawi / Alrahal 2014 7/31/2018 $975 $11,700 Unit 3-W 2 Bdr / 1 Bath Haleem / Moumas 10/1/2017 9/30/2018 $1,000 $12,000 Unit 3-S 2 Bdr / 1 Bath Lyons 2008 8/31/2018 $975 $11,700 Loundry (Building Owned: 2 Washers / 2 Dryers) Est. $350 $4,200 Avg. Rents: $1,028.75 GROSS INCOME: $8,580 $102,960 EXPENSES: Real Estate Tax 2016 Taxes (Per Final Appeal) $1,202.72 $14,433 Insurance Actual 2017 $205 $2,459 Heating Energy Actual 2017 $382.79 $4,593 Electricity Actual 2017 $63.50 $762 Water & Sewer Actual 2017 $393.86 $4,726 Scavenger Actual 2017 $102.29 $1,227 Pest Control Est. $16.67 $200 Operating Supplies Est. $25.00 $300 Cleaning Services Actual 2017 $97.25 $1,167 Snow Removal Actual 2017 $13.75 $165 Grounds & Landscaping Actual 2017 $121.25 $1,455 City Registration / Inspections Fee Actual 2017 $75.00 $900 Bank Fees Actual 2017 $22.00 $264 Other / Misc. Est. $199.75 $2,397 TOTAL EXPENSES $2,921 $35,048.83 NET OPERATING INCOME $5,659 $67,911.17 * This oversized four bedroom / two bathroom + basement unit has been rented to family friend at a significantly discounted rate of $900 per month. Seller will master lease the difference in rent till 7/1/18.
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: $85,140 Expenses: $27,899 Income: $57,241 Cap Rate: 7.25% *Proforma Rent: $61,559 Proforma Cap: 7.8% Current Rent *Proforma Rent Unit Mix: 7 2 bedroom /1 bath $ 800-925 $ 900-1,000 1 1 bedroom / 1 bath $ 700-740 $ 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 2018 Income / 2017 Expense LEASING STATUS UNIT Unit Type Tenant Name Start End MONTHLY ANNUAL Rent Increase to Date of Increase Unit 1-S 1 Bdr / 1Bath Chudy 2016 4/30/2019 $700 $8,400 $740 7/1/18-4/30/19 Unit 1-E 2 Bdr / 1 Bath Fuller & Arcand 2014 8/31/2018 $820 $9,840 - - Unit 2-E 2 Bdr / 1 Bath Feeler / Alexander 11/18/2017 3/31/2019 $925 $11,100 - - Unit 2-N 2 Bdr / 1 Bath Muthana & Almaflehi - Est. $900 $10,800 PENDING Unit 2-S 2 Bdr / 1 Bath Becola 2013 8/31/2018 $800 $9,600 Fiorenza / Unit 3-E 2 Bdr / 1 Bath Wesolowski 9/1/2017 10/31/2018 $850 $10,200 $875 3/1/18-10/31/18 Unit 3-N 2 Bdr / 1 Bath Sulieman / Qoran 11/1/2017 7/31/2018 $875 $10,500 Unit 3-S 2 Bdr / 1 Bath 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: $840.00 GROSS INCOME: $7,095 $85,140.00 EXPENSE : Real Estate Tax* 2016 Taxes (Per Final Appeal) $1,265.55 $15,187 Insurance Actual 2017 $191.92 $2,303 Heating Energy N/A - - Electricity Actual 2017 $72 $870 Water & Sewer Actual 2017 $264 $3,163 Scavenger Actual 2017 $95 $1,135 Pest Control Est. $13 $150 Operating Supplies Est. $17 $200 Cleaning Services Actual 2017 $98 $1,175 Snow Removal Actual 2017 $14 $165 Grounds & Landscaping Actual 2017 $127 $1,521 City Registration / Inspections Fee Actual 2017 $50 $600 Bank Fees Actual 2016 $15 $180 Other / Misc. Est. $104 $1,250 TOTAL EXPENSE: $2,324.88 $27,899 NET OPERATING INCOME: $4,770 $57,241
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