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102 Memorial Dr 22 Unit Apartment Building $2,501,820 CAD ($113,719 CAD/Unit) 8.15% Cap Rate Calumet City, IL 60409
Investment Highlights
- 22-unit multifamily property consisting entirely of one-bedroom, one-bathroom apartments
- Historically low vacancy supported by consistent demand for affordable workforce housing
- Tenants pay electricty, helping limit owner utility expenses
- Most apartment interiors renovated with LVP flooring, updated kitchens and bathrooms, modern light fixtures, fresh pain, and updated appliances
- Value-add opportunity through continued rent growth as unts turn over
Executive Summary
102–108 Memorial Drive is a well-maintained 22-unit multifamily property located in Calumet City, Illinois. The property consists of twenty-two (22) one-bedroom, one-bathroom apartments, offering an affordable workforce housing asset that benefits from consistent rental demand and historically low vacancy.
Most apartment interiors have been updated with durable luxury vinyl plank (LVP) flooring, fresh paint, renovated kitchens and bathrooms, modern light fixtures, and updated appliances. These improvements have positioned the property to attract and retain quality tenants while minimizing near-term capital expenditure requirements. Investors also have the opportunity to increase revenue through future rent growth as units continue to turn over.
Tenants are responsible for electricity costs, while ownership provides heat through a high-efficiency Weil-McLain boiler installed in 2025. The recent boiler replacement represents a significant capital improvement that should improve operating efficiency and reduce future maintenance costs.
Situated minutes from the Indiana state line, the property provides convenient access to the employment centers of Northwest Indiana and the south suburban Chicago market via Interstate 94 and other major transportation corridors.
102–108 Memorial Drive presents investors with the opportunity to acquire a well-maintained workforce housing asset featuring a desirable one-bedroom unit mix, recent capital improvements, stable occupancy, and the potential for continued revenue growth through future rent increases.
Most apartment interiors have been updated with durable luxury vinyl plank (LVP) flooring, fresh paint, renovated kitchens and bathrooms, modern light fixtures, and updated appliances. These improvements have positioned the property to attract and retain quality tenants while minimizing near-term capital expenditure requirements. Investors also have the opportunity to increase revenue through future rent growth as units continue to turn over.
Tenants are responsible for electricity costs, while ownership provides heat through a high-efficiency Weil-McLain boiler installed in 2025. The recent boiler replacement represents a significant capital improvement that should improve operating efficiency and reduce future maintenance costs.
Situated minutes from the Indiana state line, the property provides convenient access to the employment centers of Northwest Indiana and the south suburban Chicago market via Interstate 94 and other major transportation corridors.
102–108 Memorial Drive presents investors with the opportunity to acquire a well-maintained workforce housing asset featuring a desirable one-bedroom unit mix, recent capital improvements, stable occupancy, and the potential for continued revenue growth through future rent increases.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,501,820 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $113,719 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 8.15% | Building Size | 17,197 SF |
| No. Units | 22 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R-1 | ||
| Price | $2,501,820 CAD |
| Price Per Unit | $113,719 CAD |
| Sale Type | Investment |
| Cap Rate | 8.15% |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 17,197 SF |
| No. Stories | 4 |
| Year Built | 1926 |
| Opportunity Zone |
Yes |
| Zoning | R-1 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 22 | - | 650 - 750 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 30-08-406-027-0000 | Total Assessment | $66,384 CAD |
| Land Assessment | $2,351 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $64,033 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
30-08-406-027-0000
Land Assessment
$2,351 CAD
Improvements Assessment
$64,033 CAD
Total Assessment
$66,384 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
Contacts
-
Reid Bennett, CCIM -
Maira Mancia -
Dan Short -
Cody Doran -
SVN - Chicago Commercial
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102 Memorial Dr
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