Sheridan Apartments 1902 Sheridan Rd Immeuble residentiel 24 lots 1 450 845 € (60 452 €/Lot) Taux de capitalisation 7,74 % Pekin, IL 61554

Sheridan Apartments is a 24-unit multifamily property located in the heart of Pekin, Illinois. Originally built in 1973 and situated on 0.92 acres, the property offers a desirable unit mix of 16 one-bedroom, one-bath units and 8 two-bedroom, one-bath units. Twenty-two of the 24 units have been fully renovated, with the remaining two units scheduled for completion and lease-up by early April 2025.
The property is currently undergoing operational enhancements, including the installation of an on-site laundry room. Three washers and three dryers are being added beneath the 1902 building, offering a new resident amenity and an additional income stream. A separate space beneath the 1900 building is also available for a future owner interested in expanding laundry services.
Sheridan Apartments is ideally located near major shopping and dining options, including East Court Village Shopping Center and the retail corridor along Court Street. Recreational amenities such as McNaughton Park and the Pekin Park District’s network of parks and golf courses add to the property’s appeal for residents seeking an active lifestyle. The location also provides convenient access to major employers and essential services, including UnityPoint Health and Pekin Insurance.
Pekin, part of the Peoria metropolitan area, is home to approximately 33,000 residents and offers a blend of small-town charm and regional connectivity. The greater Peoria MSA, with over 400,000 residents, is supported by diverse industries including healthcare, education, and manufacturing. Major institutions such as Bradley University and companies like Caterpillar Inc. serve as long-standing economic drivers. Strategically located along the Illinois River and equidistant from Chicago and St. Louis, the area offers strong infrastructure and consistent rental demand.
With renovations nearing completion, new amenities being introduced, and additional operational flexibility, Sheridan Apartments presents investors with an appealing opportunity to acquire a well-located and recently improved multifamily asset in a steady Central Illinois market.