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Mario Bilotas

mario@fourdaughtersrealestate.com +1(847) 886-4663

$ 1,999,999

Est. payment -/mo

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Price Dropped by $200K

603 N Prospect ST Cambridge, IL 61238

1.06 Acres Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12393172

Annual Tax Amount $11,505

Tax Year 2024

Lot Size 1.060 Acres

Lot Dimensions 152 X 304

Property Sub-Type Multi Family 5+

Property Description

This listing presents an excellent investment opportunity consisting of two multi-family properties located at 603 N. Prospect Street, Cambridge and 503 10th Avenue, Orion. Together, the properties offer a total of 41 residential units, including 24 studio apartments, ten one-bedroom units, four handicap-accessible one-bedroom units, and two two-bedroom units. Both buildings operate under HUD housing requirements, serving residents who are 62 years of age or older or individuals with qualifying disabilities. The properties are well-maintained and provide key amenities such as a community room and coin-operated laundry facilities, offering comfort and convenience for tenants. With a strong history of occupancy and consistent rental income, these safe and secure buildings represent a turnkey portfolio with significant income potential in the affordable housing sector.

Location

State IL

County Henry

Area Out Of Area West

Zoning MULTI

Interior

Fireplace N

Exterior

Roof Type Composition

Building

Dwelling Type Multi Family 5+

Structure Type Vinyl Siding

Listed by Lori Bonarek of Lori Bonarek Realty

AFFORDABILITY CALCULATOR

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Your debt-to-income ratio is 36%
Quite affordable.

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MY BLOGS

THE FRONT PORCH SWING

Oh, the memories. I remember my girls spending countless hours swinging front to back and side to side, hanging out with the neighborhood kids, splashing with the water hose, or crafting top-secret plans with their imaginations. It was awesome. How times have changed. With my two youngest girls slowly nearing college graduation and my older girls working hard in their careers, the days of simple life are taken over by group texts and long-distance daily check-ins. It's just not the same.

less is more, unless, it's for less.

Each day, I'd get my MLS home showing sheets ready, the electronic key card that opens lock-boxes, get dressed with minutes turning into seconds frantically starring at the time ticking away. All ready but just need to ...find ....one matching sock.

Contact Us

Phone

+1(847) 886-4663

mario@fourdaughtersrealestate.com

Address

205 W. Miner Street, Arlington Heights, IL, 60005