Greenstone Partners, as the Exclusive Investment Advisors, is pleased to present the opportunity to acquire the 100% fee-simple interest in 18416 & 18422 Torrence Avenue (the “Property”), a 12-unit multifamily asset located in Lansing, Illinois, within Cook County and the Chicago MSA. The Property consists of two six-unit buildings totaling approximately 10,000 square feet of gross living area on approximately 0.40 acres. The Property features an attractive unit mix of eight (8) two-bedroom/one-bathroom units and four (4) one-bedroom/one-bathroom units, with two-bedroom apartments comprising approximately 66.7% of the unit mix.

Originally constructed in 1960, the Property features durable brick construction, flat roofs, two hot water heaters, gas boiler systems, and hot water baseboard heat. The Property also includes a private asphalt parking lot with 12 off-street parking spaces, providing a 1:1 parking ratio per unit, along with on-site laundry facilities that provide additional ancillary revenue.

The Property presents a compelling value-add opportunity through the ability to increase rental income toward projected market levels. Current rents generate approximately $15,231 per month, or $182,772 annually, compared with projected market rents of $18,000 per month, or $216,000 annually, representing approximately $33,228 of additional annual rental income. The four one-bedroom units currently average $1,139 per month compared with projected market rents of $1,300, while the eight two-bedroom units average $1,329 compared with projected market rents of $1,600. Ten of the Property’s twelve units are currently month-to-month, providing a new owner with flexibility to capture the identified rent upside.

Located along Torrence Avenue just south of Ridge Road, the Property benefits from its position along an established Lansing commercial corridor with convenient access to I-80/94, I-294, and IL Route 394. Lansing is located approximately 25 miles south of downtown Chicago along the Indiana state border and offers access to established residential neighborhoods, retail and commercial districts, parks, and regional transportation routes. Within a five-mile radius, the Property is surrounded by approximately 218,650 residents, 85,490 households, 92,435 employees, and 9,224 businesses, with an average household income of approximately $95,028.

At the $1,280,000 asking price, the Property is offered at approximately $106,667 per unit and $128 per square foot, representing an 8.00% current capitalization rate and a projected 10.27% stabilized capitalization rate based on the underwriting contained in the offering memorandum. Current net operating income is approximately $102,422, with stabilized net operating income projected at approximately $131,460, highlighting the potential income growth available through execution of the Property’s rental strategy.