- List Price $9,100,000
- Price / Unit $91,000
- Property Type Multifamily
- Units 100
- Current Rents $1,173,204
- Pro Forma Rents $1,485,300
- In Place NOI $680,430
- Projected NOI $992,526
- Target CAP Rate 7.43%
- Market CAP Rate 8%
- Today's Market Value $9,100,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
- -
- -
- 1908
- 98%
- -
- 1
- Boiler Heat
- Window Units
- In Unit, Free
-
-
- 1908
- 98%
- -
- 1
- Boiler Heat
- Boiler Heat
- In Unit, Free
About the property
Centrally located in DeKalb, IL. & encompassing 7 individual buildings within 5 minutes of each other, this remarkable Portfolio comprises a total of 100 units seamlessly fusing historic charm with modern convenience. Notably, its close proximity to Northern Illinois University establishes a steady demand for rentals, making this a prime investment prospect. Moreover, with current rents below market standards, the property presents a promising value-add opportunity. Ownership is in process of renovating & enhancing units in order to increase rents to market standards while providing residents with updated living spaces. However, there is plenty of Value Add opportunity in raising rents & increasing NOI! The condition of all units are similar and consistent with photos listed. All units have individual HVAC systems. This portfolio of buildings are Very Utility efficient in that each unit has individual Gas Meters. Therefore, the tenant is paying for Gas for Heat & Cooking. This blend of historical ambiance, convenient urban living, and the prospect of maximizing returns makes this investment an intriguing choice for those seeking both financial growth and the chance to contribute to DeKalb’s thriving community.
About the neighbourhood
- DeKalb is a vibrant community in northern Illinois located approximately 65 miles west of downtown Chicago and 35 miles southeast of Rockford. The city offers a well-established residential environment complemented by a diverse mix of commercial, educational, recreational, and employment opportunities. DeKalb is home to Northern Illinois University, which contributes significantly to the area’s cultural, educational, and economic activity.The community features a variety of housing options, including single-family homes, townhomes, condominiums, and multifamily developments. Commercial activity is concentrated along major corridors such as Sycamore Road, Lincoln Highway, and Route 23, providing residents with convenient access to retail, restaurants, professional services, and everyday necessities. DeKalb also offers numerous parks, recreational facilities, community events, and outdoor amenities.Transportation is supported by major roadways including Interstate 88, providing convenient access to surrounding communities and the greater Chicago metropolitan area. Overall, DeKalb offers a balanced combination of small-city character, educational resources, employment opportunities, and accessibility, making it an established and desirable community for residents, students, and investors.
Municipality - Investor Guide
Dekalb
| Transfer Stamps | Pre Sale Inspection | Yearly Rental Inspection | |
|---|---|---|---|
| Buyer: N/A | Cost: - | Required: No | Required: NO |
| Seller: N/A | Cost: - | Cost: $0 | Cost: $0 |
| Notes | |||
| Final water read needs to be ordered and balance paid prior to closing. | |||
For a list of all Municipality requirements visit our Municipality Requirements Page
Property Documents
Property Financials
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Utility Table
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Walkscore
Nearby
- Arts & Entertainment
-
S&E Properties & Management (0 mi)
-
809 Edgebrook Luxury Townhomes (0.07 mi)
-
Normal Road Apartments (0.16 mi)
- Education
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Hanlon Child Care (0.28 mi)
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Dekalb University Development (0.68 mi)
-
Immanuel Lutheran Church & Student Center (0.65 mi)
- Food
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Tequila Road House (0.17 mi)
-
Sweet Nightmares (0.19 mi)
-
Huskie's Discount Liquor (0.26 mi)
- Health & Medical
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Sauk Medical Clinic (0.24 mi)
-
McCoy James W DC (0.31 mi)
-
Ramanathan P R MD (0.45 mi)
Contact Information
- List Price $9,100,000
- Property Type Multifamily
- Current Rents $1,173,204
- In Place NOI $680,430
- Target CAP Rate 7.43%
- Today's Market Value $9,100,000
- Price / Unit $91,000
- Units 100
- Pro Forma Rents $1,485,300
- Projected NOI $992,526
- Market CAP Rate 8%
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
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