Log In/Sign Up
Your email has been sent.
Euclid Place 501-551 W Euclid Ave 78 Unit Apartment Building $26,012,331 CAD ($333,491 CAD/Unit) 5.73% Cap Rate Arlington Heights, IL 60004
Investment Highlights
- All 78 Units Totally Renovated Since 2021
- All Three Roofs Completely Replaced in 2023
- $6,000,000 In Improvement Since 2021
- Includes 0.63 Acre Parking Lot with Development Potential
- Newly Installed Plumbing and Electric
- In Unit Washer/Dryer
Executive Summary
Euclid Place Apartments is located at 501-551 Euclid Place in Arlington Heights, IL and consists of 78 apartments contained in three buildings on a 1.77 acre parcel. The property also includes 0.63 acre parking lot with 78 parking spaces across the street at 501 E. Fremont St. Arlington Heights has long been considered a premier northwestern Cook County suburb of Chicago admired for vibrant downtown, excellent schools, and historic charm.
Euclid Place is strategically positioned near numerous entertainment/dining options and the Metra train station. All 78 units were completely renovated between 2019-2021 at a cost of $6,000,000. The scope of work includes new flooring, cabinets, appliances, in unit laundry, individual HVAC, copper supply lines and roofs on all three buildings. The property offers a diverse unit mix of 49 1BR/1BA units, 22 2BR/1BA units, 4 2BR/2BA units, and 3 3BR/2BA units, catering to several categories of renters including both young professionals and empty nesters.
This asset represents an exceptional investment opportunity in a suburban market where multifamily properties of this scale, quality, and location rarely become available, paricularly with zero deferred maintenance. The building's diverse unit mix captures multiple rental price points while offering investors a unique combination of immediate income generation.
Euclid Place is strategically positioned near numerous entertainment/dining options and the Metra train station. All 78 units were completely renovated between 2019-2021 at a cost of $6,000,000. The scope of work includes new flooring, cabinets, appliances, in unit laundry, individual HVAC, copper supply lines and roofs on all three buildings. The property offers a diverse unit mix of 49 1BR/1BA units, 22 2BR/1BA units, 4 2BR/2BA units, and 3 3BR/2BA units, catering to several categories of renters including both young professionals and empty nesters.
This asset represents an exceptional investment opportunity in a suburban market where multifamily properties of this scale, quality, and location rarely become available, paricularly with zero deferred maintenance. The building's diverse unit mix captures multiple rental price points while offering investors a unique combination of immediate income generation.
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 | $26,012,331 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $333,491 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 2.40 AC |
| Cap Rate | 5.73% | Building Size | 66,069 SF |
| Gross Rent Multiplier | 11.3 | Average Occupancy | 86% |
| No. Units | 78 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1956/2021 |
| Property Subtype | Apartment | Parking Ratio | 1.51/1,000 SF |
| Zoning | MF - Multi-Family Residential | ||
| Price | $26,012,331 CAD |
| Price Per Unit | $333,491 CAD |
| Sale Type | Investment |
| Cap Rate | 5.73% |
| Gross Rent Multiplier | 11.3 |
| No. Units | 78 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.40 AC |
| Building Size | 66,069 SF |
| Average Occupancy | 86% |
| No. Stories | 3 |
| Year Built/Renovated | 1956/2021 |
| Parking Ratio | 1.51/1,000 SF |
| Zoning | MF - Multi-Family Residential |
Amenities
Unit Amenities
- Air Conditioning
- Storage Space
- Heating
- Kitchen
- Refrigerator
Site Amenities
- Courtyard
- Laundry Facilities
- Picnic Area
- Property Manager on Site
- Lounge
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 40 | - | 625 |
| 1+2 | 12 | - | 1,249 |
| 2+1 | 19 | - | 754 |
| 2+2 | 1 | - | 1,249 |
| 3+2 | 6 | - | 1,298 |
1 1
Walk Score®
Very Walkable (87)
Property Taxes
| Parcel Number | 03-30-403-002-0000 | Total Assessment | $1,414,911 CAD |
| Land Assessment | $127,167 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,287,743 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
03-30-403-002-0000
Land Assessment
$127,167 CAD
Improvements Assessment
$1,287,743 CAD
Total Assessment
$1,414,911 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
1 of 38
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Euclid Place | 501-551 W Euclid Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.