Well-maintained and professionally landscaped, 304 Hankes Ave is a turnkey 9-unit multifamily investment in Aurora's desirable Pigeon Hill neighborhood, offering a strong unit mix of six spacious 2-bedroom units and three comfortable 1-bedroom units with no association and low utility costs. Most units have been renovated with new fixtures, upgraded electrical circuits and breakers, newer windows, and modern split ductless heat and A/C systems with backup electric heating, ensuring long-term reliability and reduced maintenance. Apartments feature hardwood floors covered with durable luxury vinyl plank flooring and oak kitchen cabinetry, designed for tenant appeal and easy upkeep. Each unit includes two designated parking spaces, while long-term tenants provide stable income. The property benefits from additional revenue through coin-operated laundry and rentable private basement storage units, and recent capital improvements, including a newer roof, further enhance value. Fully occupied building, this asset offers excellent cash flow and a solid return for both new and seasoned investors. Please do not disturb tenants.
| Listing Id: | 12552481 |
|---|---|
| List Price: | $1,600,000 |
| Property Type: | Commercial Sale |
| Property Type: | Multi Family 5+ |
| Status: | Active |
| Parking On Site: | No |
| Tax Annual Amount: | $12,600 |
| Lot Size Square Feet: | 14,810 |
| City: | Aurora |
| County Or Parish: | Kane |
| Postal Code: | 60505 |
| Year Built: | 1931 |
| Total # Units In Building: | 9 |
| Association Fee Includes: | None |
| Basement: | false |
| Basement: | Other, Bath/Stubbed, Storage Space |
| Building Area Total: | 6532 |
| Construction Materials: | Wood, Frame |
| Cooling: | Exhaust Fan, Heat Pump, Wall Sleeve |
| Current Use: | Multi-Family |
| Directions: | Rt. 25 to Hankes, East on Hankes to Bldg. |
| Electric: | Circuit Breakers |
| Electric Expense: | $1,200 |
| Foundation Details: | Concrete Perimeter |
| Frontage Type: | City Street |
| Fuel Expense: | 3000 |
| Gross Income: | $158,940 |
| Gross Scheduled Income: | $158,940 |
| Insurance Expense: | $5,040 |
| Listing Contract Date: | 2026-02-28 |
| Lot Size Acres: | 0.33 |
| Lot Size Dimensions: | 81.4 X 180.2X81.4X179.23 |
| Maintenance Expense: | $4,800 |
| MLS Area Major: | Aurora / Eola |
| Approximate Age: | Older |
| Agent Owned/Interest (Y/N): | Yes |
| Alternate Phone Number: | (630) 446-0346 |
| Built Before 1978 (Y/N): | Yes |
| Seller Needs: | Other |
| # Of Dryers: | 1 |
| # Of Disposals: | 7 |
| # Of Dishwashers: | 0 |
| Electric Expense Source: | Actual |
| Known Encumbrances: | None Known |
| Expense Year: | 2024 |
| Total Annual Expense Source: | Combination |
| Fire Protection: | Fire Extinguisher/s, Smoke or Fire Protectors, Carbon Monoxide Detector(s) |
| Fuel Expense Source: | Actual |
| Green Supporting Documents: | N |
| Gross Rent Multiplier: | 11.3 |
| Heat/Ventilation: | Electric, Heat Pump, Baseboard |
| Information: | 24-Hr Notice Required, List Broker Must Accompany, No Sign on Property |
| Insurance Expense Source: | Actual |
| Janitor Expense: | 2025 |
| List Price Per Sf: | 244.95 |
| Market Code: | Active |
| Misc Inside: | Storage Inside, Laundry Room |
| Misc Outside: | Fire Escape, Storms and Screens (as exist) |
| Owners Assoc (Y/N): | No |
| Ownership Type: | Limited Liability Corp |
| Parking Ratio: | 2 |
| Outdoor Parking: | 13-18 Spaces |
| # Of Refrigs: | 9 |
| # Of Ranges: | 9 |
| Roof Structure: | Pitched |
| Trash Expense Source: | Actual |
| Total Monthly Income: | 13245 |
| Type Multi Family: | Other |
| Update Date: | 2026-06-11T05:05:30 |
| Unincorporated (Y/N): | No |
| # Of Window/Ac: | 0 |
| Washer/Dryer Lsd (Y/N): | No |
| # Of Washers: | 1 |
| Water Expense Source: | Actual |
| Net Operating Income: | $109,412 |
| Operating Expense: | $49,528 |
| Original List Price: | $1,799,900 |
| Parcel Number: | 1515276009 |
| Possession: | Closing |
| Possible Use: | Multi-Family |
| Roof: | Composition |
| Sewer: | Storm Sewer |
| State Or Province: | IL |
| Stories: | 3 |
| Tax Year: | 2024 |
| Tenant Pays: | Electricity |
| Township: | Aurora |
| Trash Expense: | $3,000 |
| Water Sewer Expense: | $7,200 |
| Water Source: | Municipal Water |
| Zoning: | MULTI |
| Actual Status: | Active |
| Back On Market Date: | 2026-03-12 |
Listing Courtesy of: Sohum Realty, Inc.
Listing Agent: Venkat Chatakondu
630-446-0346
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Information deemed reliable but not guaranteed.
Midwest Real Estate Data LLC data last updated on October 08, 2026 04:15 PM - CT
Based on information submitted to the MLS GRID as of October 08, 2026 04:15 PM - CT. 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. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. Some listings have been excluded from this website.
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Property Last Updated: October 08, 2026 04:15 PM - CT
