1722 Mannheim Road

Stone Park is located roughly 15 miles west of downtown Chicago in Cook County, Illinois. It is bordered by Melrose Park to the north and east, Bellwood to the south, and Northlake to the west. Stone Park is strategically positioned near major transportation routes, including the Eisenhower Expressway (I-290) and the nearby I-294 Tri-State Tollway, allowing for convenient travel throughout the region. The village includes a mix of residential and commercial properties, with many long-standing businesses along North Mannheim Road. Stone Park is served by Proviso Township High Schools and nearby educational institutions in neighboring communities. Residents also have access to surrounding amenities, including shopping centers, local parks, and dining options in nearby Melrose Park and Bellwood. With its accessible location and close-knit community, Stone Park offers a convenient and appealing option for those looking to live near the city while enjoying the benefits of a suburban environment.Essex Realty Group, LLC has been exclusively engaged to market for sale 1722 Mannheim Road, a well-positioned 34-unit apartment building in Stone Park, IL. The unit mix consists of seven (7) studios, twenty-three (23) one-bedroom/one-bathroom units, three (3) two-bedroom/two-bathroom units, and one (1) office space with potential for conversion into two additional dwelling units. The property has undergone extensive renovations, with approximately 70% of the units updated. Currently, in-place rents are approximately 18% below market, providing a clear opportunity for immediate revenue growth. The property also features an assumable loan with a 4.46% fixed interest rate, maturing in 2032, offering a favorable financing option for investors. 1722 Mannheim Road presents a compelling investment opportunity with a mix of updated and value-add units, strong operational fundamentals, and additional income potential through unit expansion. According to FEMA, the property is located in a 1% Annual Chance Flood Hazard zone. There have been no reported floods under current ownership