Invest in a Great Location: A Look at the Multi-Unit Building on 60 N Wolf Road

$889,000

- Beds | - Baths | 3,888 SqFt

60 N Wolf Road, Wheeling, IL 60090

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Investing in real estate can be a wise decision, especially when you find a great location like the multi-unit building on 60 N Wolf Road in Wheeling, IL. This property is a free-standing building with six units, and it has a listing price of $889,000. If you're looking for a property that generates income, this is definitely one you should consider.

The listing description of the property highlights its great investment opportunity in a prime location. The building has newer boilers, windows, and hot water heaters, which means that you won't have to worry about major maintenance expenses in the near future. The hardwood floors throughout the units are another great feature that adds to the property's appeal. Additionally, the building is fully rented with leases and security deposits, which means that you'll start earning income as soon as you invest.

One of the best things about this property is its location. It's situated in a great rental location that's close to Milwaukee Ave shopping, restaurants, and I-294. This means that there's a high demand for rental properties in this area, which makes it the perfect location for real estate investors. Furthermore, the paved private parking for 8 cars is a convenient feature that tenants will appreciate.

If you're wondering about the financials of this property, you'll be pleased to know that it has a gross income of $87,720. This means that the property generates significant revenue, which makes it a great investment opportunity. The cap rate, which measures the return of an investment, is also impressive. However, it's important to note that the cap rate isn't the only factor to consider when investing in real estate. You should also look at other factors like the location, the condition of the property, and the potential for future income growth.

Investing in a multi-unit building like this one can be a smart decision for several reasons. First, it allows you to diversify your investment portfolio. Instead of putting all your money into one property, you can spread it out among several units. This reduces your risk of losing money if one unit isn't performing well. Second, investing in real estate can provide a steady stream of income. If you invest in a property that's fully rented, you'll start earning income right away.

Before investing in a multi-unit building, it's important to do your due diligence. This means researching the property, its location, and the real estate market in the area. You should also work with Arthur Barkan a real estate agent who has experience in this type of investment.