Address
401 Haber Road, Cary, IL
Price
$ 5,000,000
Property Attributes
- MLS#11852231
- TypeContingent
- CountyMC HENRY
- CityCary
- AreaCary - Oakwood Hills - Trout Valley
- Zip60013
- StyleMulti-Family
- Year Built2023
- Taxes$ 9999999
- Price$ 5,000,000
- Bedrooms5
- Full Bathrooms0
- Half Bathrooms0
- Lot Size2.79 Acres
Data Source:
Midwest Real Estate Data (MRED)
Property Description
Property is now going to Auction! Now being offered is the newly constructed 55 and older Haber Luxury Apartment Building in Cary, IL which sits on a total of 2.83 acres. This twenty-four (24) unit apartment complex has a unit mix of fourteen (14) 1Bd-1Bath units that range from 595 SF to 706 SF, six (6) 2Bd-2Bath units & four (4) 2Bd-1Bath units that range from 847 SF to 1098 SF. All units feature an in-home washer and dryer, private balcony or patio, white shaker style cabinetry, wood vinyl plank flooring, framed bathroom mirrors, quartz countertops, nest smart thermostat & smart locks. Also offered to tenants are shared areas, offering a kitchenette and game room/social area for tenants. Tenants will pay for all utilities except for garbage. An investor can add value by building fifteen (15) covered garages which a tenant can use for extra parking or storage and could potentially bring in an additional $30,000 per year. Add Value Component: In addition to the apartment building, the remaining property around the perimeter of the building consists of a 79,753 square foot or 1.83-acre site that an investor could improve by developing seven (7) two family townhome buildings totaling fourteen (14) units ranging from approximately 1,900SF to 2,100SF. The buildings which the seller has drawn plans for could consist of two (2) 1-story, masonry, and frame-constructed structures and five (5) 2-story, masonry and frame-constructed structures that will contain a gross building area of 24,390 square feet. Two (2) buildings will contain four (4) 1-bedroom 1.1 bath units, with finished lower levels containing two (2) bedrooms and a full bath. Two buildings will contain two (2) 3-bedroom 2.1 bath units, which will have all 3 bedrooms on the second floor. The last 3 buildings will have two (2) 3 bedroom and 2.1 bath units, with a master bedroom and bath on the ground floor and two bedrooms, a loft area, and a full bath on the second floor. All the fourteen (14) units will have a living room, kitchen, dining area, in unit laundry and an attached 2 car garage and the two townhomes to the far south of the property will be the only units that will offer a basement. The resale value for each individual unit is $385,000-$400,000.
| Price History | |
|---|---|
| 8/5/2023 | Listed $5,000,000 |
| 9/26/2023 | 100% - $0 |
General Features
| Additional Parcels Y/N | No |
|---|---|
| City | Cary |
| Construction Materials | Brick, Wood Frame |
| Contingency | Other Contingency |
| Cooling | Central Individual |
| County | Mc Henry |
| Current Use | Multi-Family |
| Days on Market | 96 |
| Directions | Northwest Hwy (14) to Cary Algonquin Rd South. Turn right on Haper Ave and left on Haber Rd. Property is on the left |
| Electric | Separate Meters |
| Electric Expense | 999999 |
| Fuel Expense | 999999 |
| Gross Income | 99999999 |
| Insurance Expense | 999999 |
| MLS Area | Cary / Oakwood Hills / Trout Valley |
| Maintenanceexpense | 999999 |
| Net Operating Income | 9999999 |
| Operating Expense | 9999999 |
| Possible Use | Multi-Family, Single Family |
| Property Type | Commercial Sale |
| Property Type | Multi Family 5+ |
| Standard Status | Active Under Contract |
| Status | Contingent |
| Stories | 2 |
| Street Name | Haber |
| Tax Annual Amount | 9999999 |
| Tax Year | 2022 |
| Tenant Pays | Electricity, Heat, Scavenger, Sewer |
| Total Units | 24 |
| Trash Expense | 999999 |
| Utilities | Sanitary Sewer, Water to Site |
| Water Sewer Expense | 999999 |
| Year Built | 2023 |
| Zoning | MULTI |
Interior Features
| Street Suffix | Road |
|---|
Exterior Features
| Exterior | Aluminum Siding, Brick |
|---|---|
| Lot Dimensions | 654X214 |
| Lot Size Acres | 2.79 |
| Total Parking | 43 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Contingent Average in 60013
Price
Taxes
Visits
Year Built
Midwest Real Estate Data (MRED) All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than RE/MAX Suburban may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2023 All rights reserved.Based on information submitted to the MLS GRID as of December 4, 2023 12:28 PM UTC 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.
Data is updated as of December 4, 2023 12:28 PM UTC
