405 Austin Street

For Sale

405 Austin Street, Downers Grove, IL 60515

This Downers Grove property for sale is located at 405 Austin Street. The current listed sale price for 405 Austin Street is $2,200,000.

Contacts

broker
Anthony Citriglia

Essex Realty Group

Property Details

  • Property Type Multi-Family
  • Property Size 1 SF
  • Units 14
  • Date Updated Mar 27, 2025
Downers Grove is located just 25 miles west of Chicago and is one of the most vibrant and thriving villages in DuPage County. Known for its active downtown, natural attractions, community events, and large employer base, Downers Grove is one the premier Chicago suburbs in which to live and work. One of the suburb's many appealing characteristics include its highly ranked schools. According to Livability.com, Downers Grove is one of the Top 10 Livable Cities for kids and has been recognized by Forbes as one of America’s Friendliest Towns. Serviced by numerous expressways and commuter rail stations, residents of Downers Grove have direct and convenient access to Chicago as well as neighboring villages of Naperville, Westmont, Lisle, and Hinsdale. In addition, several corporate and regional headquarters are located in Downers Grove including Advocate Aurora Health Care, Dover Corporation, and Pepperidge Farm. These companies employ thousands of local residents and support the suburb's robust economic base.Essex Realty Group, LLC has been exclusively engaged to market for sale 405 Austin Street, a well-maintained 14-unit apartment building in the desirable suburb of Downers Grove. The unit mix consists of one (1) studio, nine (9) one-bedroom/one-bathroom units, and four (4) two-bedroom/one-bathroom units. The property is all-electric, featuring electric baseboard heating and individual hot water tanks in each unit. Recent capital improvements include tuckpointing completed in 2024, lentil updates in 2023, and iron balcony upgrades in 2023. Kitchens and bathrooms throughout the property were updated approximately ten years ago. Currently, rents are below market, presenting an opportunity for immediate income growth. Additionally, the property benefits from an assumable loan with a competitive 3.31% fixed interest rate, maturing on December 31, 2030. 405 Austin Street presents investors with the opportunity to acquire a stabilized, well-maintained asset with immediate upside in one of DuPage County's strongest rental markets. According to FEMA, the property is located in a 1% Annual Chance Flood Hazard zone. There have been no reported floods under current ownership.
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Highlights

  • One Block from Fairview Ave Metra Station
  • Less Than One Mile from Downtown Downers Grove
  • Assumable Loan at 3.31% Fixed, Maturing 12/31/30
  • Diverse Unit Mix: One (1) Studio, Nine (9) 1Bd/1Ba, & Four (4) 2Bd/1Ba Units
  • Recent Capital Improvements – Tuckpointing (2024), Lentil Updates (2023), Iron Balcony Upgrades (2023)
  • Updated Kitchens & Bathrooms Throughout the Building

Getting around

  • 63/100

    Walk Score ®

  • 35/100

    Transit Score ®

  • 50/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Downers Grove, IL
  • Neighborhood Downtown Downers Grove
  • Zip Code 60515
  • Market Chicago

Points of Interest

  • Fairview Avenue

    0.17 miles

  • Downers Grove Main Street

    0.71 miles

  • Westmont

    0.95 miles

  • Clarendon Hills

    2.19 miles

  • Belmont

    2.28 miles

  • Hinsdale

    3.47 miles

  • Lisle

    4.02 miles

  • Western Springs

    4.91 miles

  • Stone Avenue

    6.15 miles

  • Lombard

    6.26 miles

  • Speedway

    0.07 miles

  • Citgo

    1.04 miles

  • Shell

    1.37 miles

  • Delta Sonic

    1.50 miles

  • Thorntons

    1.74 miles

  • Tesla Supercharger

    5.65 miles

  • Volta Charging Station

    5.81 miles

  • ChargePoint

    6.67 miles

  • Holy Trinity Parking

    1.11 miles

  • P8

    2.99 miles

  • P7

    3.15 miles

  • Steak n' Shake

    3.24 miles

  • P6

    3.36 miles

  • P5

    3.65 miles

  • P4

    3.68 miles

  • P3

    3.81 miles

  • P17

    3.86 miles

  • P2

    3.88 miles

  • Oak Brook Hills Marriott Resort

    2.03 miles

  • Chicago Club Inn & Suites

    2.44 miles

  • Extended Stay America

    2.50 miles

  • Esplanade Lakes by DoubleTree

    2.61 miles

  • Best Western Plus

    2.62 miles

  • Chicago Marriott Suites Downers Grove

    2.66 miles

  • Red Roof Inn

    2.68 miles

  • Inn Town and Suites

    2.74 miles

  • Embassy Suites

    2.81 miles

  • Highland Manor

    4.38 miles

  • Fresh Thyme

    0.79 miles

  • Trader Joe's

    0.98 miles

  • ALDI

    1.06 miles

  • Nature's Best Market

    1.07 miles

  • Jewel-Osco

    1.28 miles

  • Standard Market

    1.69 miles

  • Mariano's Fresh Market

    1.76 miles

  • Amazon Fresh

    1.81 miles

  • Ross

    2.87 miles

  • Target

    2.92 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
Anthony Citriglia

Essex Realty Group

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