1642 Country Lakes Drive
Naperville, IL 60563

  • 8 beds
  • 7 baths
  • – sqft
  • 15,682 sqft lot
  • 1985 build
  • on site

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This turn-key 4 unit building checks all the boxes for the savvy investor: CONDITION, CASH FLOW, EXPANDABILTY/VALUE-ADD & LOCATION. CONDITION: All units feature DW(s), in-unit owned W/D(s), C/A, and 1 car attached garages. Three units have full basements (2 finished). Recent interior unit remodels: Unit B (2023), D (2021), C (2020). Recent upgrades: 2023 New Roof ($50K), 2022 Windows ($25K), most HVAC updated w/in last 5 years. CASH FLOW: Low real estate taxes. All units separately metered. Tenants pay ALL gas, electric, water, sewer & trash. Unit B lease starts 6/1 for $1,900/ 1YR). Unit D is vacating 5/31 w/ est. market rent at $1,800/MTH. Unit C has a L-T tenant but $1,600/MTH rent could be raised to $2,000/MTH due to finished basement. EXPANDABILTY/VALUE-ADD: Large green space on lot (~97'X165') allows for the construction of an ADDITIONAL 3 Flat building (See Add'l Info). Seller had past discussions with the Village and obtained some preliminary sign-offs (see attached). Plans for NEW building may be available. Buyer could also SUBDIVIDE lot and sell as a buildable lot. LOCATION: Near I-88 tollway, Metra station. 204 school district (Top 5% in the state / #36 in US per Niche), Naperville awarded 2023 Top 5 "Best Places to Live" per Niche). Highly desirable Naperville location = sustainable, secure high tenant demand/ future rents with the value-add of constructing additional, HIGH DEMAND units for rent/sale OR subdividing lot to sell for a quick inflow of capital.

Midwest Real Estate Data logo Listing courtesy of MRED / HomeSmart Realty Group as distributed by MLS GRID MLS GRID logo

Last checked: Checking… • Last updated Mar 13, 2024 •

MLS# 11785750 —

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Sale history

Date Event Source Price % Change
7/19/23
Sold MRED $1,155,000 10.0%
5/23/23
Sold Subject To Contingencies MRED $1,050,000
5/17/23
Listed / Active MRED $1,050,000

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Multifamily Sold on 7/19/2023

$1,155,000

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Listing provided by broker:

Rachel Frenzel

HomeSmart Realty Group

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Midwest Real Estate Data logo Listing courtesy of MRED, HomeSmart Realty Group, and Rachel Frenzel as distributed by MLS GRID.

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than Signal Real Estate are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Based on information submitted to MLS GRID as of Mar 13, 2024, 01:31 am. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.