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$ 1,946,700
Est. payment /mo
New
465 N Mill RD Addison, IL 60101
0.47 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12400822
Year Built 1970
Annual Tax Amount $27,738
Tax Year 2023
Lot Size 0.470 Acres
Lot Dimensions 140X145
Property Sub-Type Multi Family 5+
Property Description
This is a very solid, income-producing 12-unit building that's easy to manage. With 10 two-bedroom units and 2 one-bedroom units-all fully leased-this property offers strong, steady rental income and an excellent cap rate. It's all brick, has been well cared for by a hands-on landlord, and sits in a convenient location near expressways, shopping, and parks. What makes this opportunity even more attractive is the significant amount of capital improvement already completed, eliminating the need for major work in the near future. Seven of the twelve units have been remodeled between 2016 and 2024, with the others updated through the years (all but one). In addition, the property features a brand new 26-space parking lot completed in 2025, a new A.O. Smith water heater (2024), upgraded attic insulation with R-38 Energy 360 (2020), a new boiler and control system (2020), and a new roof installed in 2018. There's no association, plenty of parking, double wide lot and minimal ongoing maintenance-making this an extremely investor-friendly property. It's rare to find a building this well-positioned, both physically and financially. If you're looking for a strong-performing asset in a great location with long-term upside, don't miss out on this one.
Location
State IL
County Dupage
Area Addison
Zoning MULTI
Interior
Cooling None
Fireplace N
Building
Dwelling Type Multi Family 5+
Level or Stories 3
Structure Type Brick
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Ralph Binetti • RE/MAX Suburban