Excellent opportunity to acquire a 20-unit studio apartment building in Harvey, IL. Conveniently located along busy 147th Street with approximately 23,000 vehicles per day, the property offers easy access to Interstates 57, 80, 94, and 294, major employers, public transportation, schools, healthcare, and retail amenities throughout Chicago's south suburbs. Owned and maintained by the same ownership since 2012, the property features low-maintenance landscaping, with the parking lot to be repaved prior to closing or a credit provided to the purchaser. Current rents average approximately $750 per month with potential for future growth through continued operational improvements. Strong occupancy history and consistent demand have historically allowed ownership to rely primarily on on-site signage and referrals for leasing. An attractive workforce housing investment offering stable cash flow and value-add potential.
— the listing agent’s description
The home
Built in 1964
0.33-acre lot
Multi Family 5+
What it’ll cost
$40,591 taxes / yr
No HOA
2 days on dwello
Estimated monthly payment
$9,553/mo
Principal & interest$5,849
Property taxes$3,383
Homeowners insurance$321
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Assessed value from the Cook County Assessor (open records). Estimated market ≈ assessed × 10 for residential; not an appraisal — verify with the assessor.
Schools nearby
Bryant Elementary School · 0.2 mi
Thornton High School · 0.4 mi
Whittier Elementary School · 0.6 mi
Ascension School · 0.8 mi
Saint Susanna School · 0.8 mi
This listing didn’t include assigned schools, so these are the closest schools (OpenStreetMap) — not necessarily the attendance-zoned schools. Confirm assignment with the district.