Under Contract
401 Haber Road
Cary IL, 60013
$5,000,000
Under Contract
Commercial
Built in 2023
Courtesy of Coldwell Banker Commercial NRT
Property is now going to Auction! Now being offered is the newly constructed 55 and older Haber Luxury Apartment Building in Cary, IL which sits on a total of 2.83 acres. This twenty-four (24) unit apartment complex has a unit mix of fourteen (14) 1Bd-1Bath units that range from 595 SF to 706 SF, six (6) 2Bd-2Bath units & four (4) 2Bd-1Bath units that range from 847 SF to 1098 SF. All units feature an in-home washer and dryer, private balcony or patio, white shaker style cabinetry, wood vinyl plank flooring, framed bathroom mirrors, quartz countertops, nest smart thermostat & smart locks. Also offered to tenants are shared areas, offering a kitchenette and game room/social area for tenants. Tenants will pay for all utilities except for garbage. An investor can add value by building fifteen (15) covered garages which a tenant can use for extra parking or storage and could potentially bring in an additional $30,000 per year. Add Value Component: In addition to the apartment building, the remaining property around the perimeter of the building consists of a 79,753 square foot or 1.83-acre site that an investor could improve by developing seven (7) two family townhome buildings totaling fourteen (14) units ranging from approximately 1,900SF to 2,100SF. The buildings which the seller has drawn plans for could consist of two (2) 1-story, masonry, and frame-constructed structures and five (5) 2-story, masonry and frame-constructed structures that will contain a gross building area of 24,390 square feet. Two (2) buildings will contain four (4) 1-bedroom 1.1 bath units, with finished lower levels containing two (2) bedrooms and a full bath. Two buildings will contain two (2) 3-bedroom 2.1 bath units, which will have all 3 bedrooms on the second floor. The last 3 buildings will have two (2) 3 bedroom and 2.1 bath units, with a master bedroom and bath on the ground floor and two bedrooms, a loft area, and a full bath on the second floor. All the fourteen (14) units will have a living room, kitchen, dining area, in unit laundry and an attached 2 car garage and the two townhomes to the far south of the property will be the only units that will offer a basement. The resale value for each individual unit is $385,000-$400,000.
11852231
MLSⓇ ID
August 4, 2023
Listed
November 7, 2023
Updated
Map
401 Haber Road
Cary IL, 60013
Interior Features
Total Stories
2
Fireplace
No
Cooling
Yes
Cooling Description
Central Individual
Heating
No
Exterior/Building Features
Lot Size
2.79 acres
Other Property Details
Area Name
Cary / Oakwood Hills / Trout Valley
Taxes
$9,999,999
Tax Frequency
Annually
Days on Market
96
Garage
No
Parking
No
Parking Total
43
View
No
County
Mc Henry
Pool
No
Zoning
MULTI
Listing History
Date | Event | Price |
---|---|---|
11/7/2023 | Under Contract | — |
Courtesy of Coldwell Banker Commercial NRT, Paul Proano,
Listing Contact:
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Data last updated 6:02 PM UTC, 11/7/2023