Asking Price: $6,250,000
Building Size: 64,400 SQ FT
Lot Size: 96268
Cost per Square Foot: $97.05
Kiser Group is proud to exclusively offer Crescent Apartments for sale. This is a 64-unit apartment complex located in Waukegan, IL. The property is made up of three separate buildings on two contiguous parcels of which two buildings are 24-unit buildings, and one is a 16-unit building. The unit mix being offered includes thirty-two  one-bedroom / one-bathroom units, and thirty-two  two-bedroom / two-bathroom units.
The property has had historically high occupancy under the current ownership with 98.34% occupancy as of January 2019. While the high occupancy rates currently being achieved are attractive, this metric also points to a new owner’s ability to push revenues higher through a more aggressive leasing and management strategy without necessarily needing to gut renovate the units. While each unit has separately metered utilities the building is currently collection AUM reimbursements for utilities paid by the landlord.
Key Points: 3-Building, 64-Unit Portfolio Located In Waukegan, IL Rental Upside Through More Aggressive Management Heated Indoor Parking Separate Heating & Electric in Units