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Lake Christine Village 1837 Lebanon Ave 54 Unit Apartment Building For Sale Belleville, IL 62221
INVESTMENT HIGHLIGHTS
- Established 54-unit garden-style apartment complex located in Belleville, Illinois
- Strategic Metro East location, which offers access to the St. Louis metropolitan job market, while benefiting from lower operating costs in Illinois
- All units are two-bedroom, one-bathroom with fireplaces, private balconies, and washer/dryer hookups, appealing to long-term renters
- 37% of the units have been updated achieving a $148 average rent increase, allowing new ownership to complete upgrades and push rents
- Stable 3-mile demographics with the Average Home Value being $187,754 and the Average Household Income being $96,037
- Close to major employers including Memorial Hospital, Southwestern Illinois College, and Scott AFB, providing a stable tenant base
EXECUTIVE SUMMARY
CBRE, as exclusive marketing advisor, is pleased to present the opportunity to acquire Lake Christine Village Apartments (“the Property”), a 54-unit, garden-style apartment community situated on 2.53 acres in Belleville, Illinois. Constructed in 1997 and renovated in 2001, the residential property includes 55,800 square feet of rental space with spacious two-bedroom units with fireplaces, private balconies, and in-unit laundry hookups.
The property is ideally positioned just 20 minutes from downtown St. Louis, providing residents with seamless access to major employment centers, cultural attractions, and entertainment venues across the bi-state area.
Situated near the intersection of Illinois Route 15 and Highway 158, Lake Christine Village benefits from excellent regional connectivity. The property is minutes from Interstate 64, offering direct routes to Scott Air Force Base, MidAmerica St. Louis Airport, and major industrial parks. Residents enjoy proximity to local shopping centers, grocery stores, restaurants, and healthcare facilities, while nearby employers include Memorial Hospital, Southwestern Illinois College, and a growing logistics and manufacturing sector.
Lake Christine Village is being sold with an attractive assumable debt of 3.77%. A call for offers date will be announced during marketing.
Lake Christine Village is part of a larger 4-property, 504-unit portfolio. Properties can be purchased individually or as a portfolio.
The property is ideally positioned just 20 minutes from downtown St. Louis, providing residents with seamless access to major employment centers, cultural attractions, and entertainment venues across the bi-state area.
Situated near the intersection of Illinois Route 15 and Highway 158, Lake Christine Village benefits from excellent regional connectivity. The property is minutes from Interstate 64, offering direct routes to Scott Air Force Base, MidAmerica St. Louis Airport, and major industrial parks. Residents enjoy proximity to local shopping centers, grocery stores, restaurants, and healthcare facilities, while nearby employers include Memorial Hospital, Southwestern Illinois College, and a growing logistics and manufacturing sector.
Lake Christine Village is being sold with an attractive assumable debt of 3.77%. A call for offers date will be announced during marketing.
Lake Christine Village is part of a larger 4-property, 504-unit portfolio. Properties can be purchased individually or as a portfolio.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS Under Contract
| Sale Type | Investment | Lot Size | 2.55 AC |
| No. Units | 54 | Building Size | 58,515 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1997/2001 |
| Building Class | B | Parking Ratio | 0.95/1,000 SF |
| Zoning | R2 | ||
| Sale Type | Investment |
| No. Units | 54 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 2.55 AC |
| Building Size | 58,515 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built/Renovated | 1997/2001 |
| Parking Ratio | 0.95/1,000 SF |
| Zoning | R2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Storage Space
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- High Speed Internet Access
- Refrigerator
- Satellite TV
- Carpet
- Grill
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Picnic Area
- Pool
- Property Manager on Site
- Grill
- Pet Play Area
- Sundeck
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 54 | - | 1,000 - 1,050 |
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PROPERTY TAXES
| Parcel Number | 08-14.0-103-021 | Improvements Assessment | $1,371,375 CAD |
| Land Assessment | $139,593 CAD | Total Assessment | $1,510,969 CAD |
PROPERTY TAXES
Parcel Number
08-14.0-103-021
Land Assessment
$139,593 CAD
Improvements Assessment
$1,371,375 CAD
Total Assessment
$1,510,969 CAD
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Lake Christine Village | 1837 Lebanon Ave
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