Vernon Hills, IL 60061,910 Westmoreland Drive
Vernon Hills, IL 60061,910 Westmoreland Drive
Vernon Hills, IL 60061,910 Westmoreland Drive
9
$800,000
$900,000
11.1%
Est.Price: ?

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910 Westmoreland Drive Vernon Hills, IL 60061

Est. payment /mo
SOLD DATE : 01/24/2023

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Key Details

Sold Price $800,000

Property Type Commercial

Sub Type Multi Family 5+

Listing Status Sold

Purchase Type For Sale

MLS Listing ID 11649711

Sold Date 01/24/23

Year Built 1974

Annual Tax Amount $19,932

Tax Year 2021

Lot Dimensions 75X100

Property Description

910 Westmoreland Drive is an 8-unit apartment property located in the northern suburb of Vernon Hills. The eight (8) units in this property consist of four (4) 1Bed/1Bath and four (4) 2Bed/1.5Bath apartments. Furthermore, the property includes a large parking lot adjacent to the building. Each unit is allowed two parking spaces which are selected on a first-come, first-served basis. The Property is part of a Homeowner's Association (HOA) which covers all utilities (except tenants' electricity), insurance, landscaping, snow removal, plumbing, roof, building mechanicals, and exterior maintenance. The HOA provides a very low maintenance "armchair" investment opportunity due to the limited maintenance requirements outside the purview of the HOA. With rents approximately 10% below market, acquiring this property provides investors with great upside with limited to no additional work. The location of this property is in a comfortable pocket of Vernon Hills that provides convenient access to interstates I-294 and I-94. The Vernon Hills Metra station is under two miles from the property, allowing accessibility to Chicago's Union Station. Additionally, the village's largest mall, Hawthorne Mall, is undergoing a redevelopment that will provide townspeople with improved shopping and dining options, green spaces, and high-quality residences. The combination of dining, retail, education, and safety tie into creating this aspired neighborhood.

Location

State IL

County Lake

Interior

Fireplace N

Exterior

View Y/N true

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Listed by John Warren • Forte Properties, Inc.
Bought with Renchi Varghese • Achieve Real Estate Group Inc

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Kari Kohler

Broker | FA.475.129019

+1(630) 673-4586

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