Six-Unit Brick Apartment
For Sale
$280,000
109 Jerome Lane, Cahokia, IL 62206
Residential Income, Cahokia, IL
Property Size3,432 SF
Lot Size0.24 Acres
Price / SF$81.59
Days on Market49
Property Features for 109 Jerome Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 4, Bedroom 5, Bedroom 2, Bathroom 6, Dining Room, Bedroom 6, Bathroom 1, Bathroom 3, Bathroom 2, Bathroom 5, Bedroom 3, Bathroom 4, Bedroom 1
Parking features
Parking Lot
Interior features
Kitchen/Dining Room Combo
Subdivision
Commonfields
Elementary school
CAHOKIA DIST 187
Middle school
CAHOKIA DIST 187
High school
Cahokia
Elementary school district
Cahokia DIST 187
Middle school district
Cahokia DIST 187
High school district
Cahokia DIST 187
Standard status
Active
APN
01-35.0-309-017
Size
3,432 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CAHOKIA COMMONFIELDS LOT/SEC-213C PT A02714601
Tax Annual Amount
8010
Legal Description
CAHOKIA COMMONFIELDS LOT/SEC-213C PT A02714601
Utilities
Heating system
Radiant Floor, Radiant
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
deck
Building Details
Year built
1980
Floors in Building
2
Number of units
6
Building materials
Brick
Roof type
Shingle
Architectural style
Other
Listing Agency:
Strano & Associates
(618) 277-7653
Listed By:
Stacey Lacroix
(618) 779-6021
Added: Jul 28
Changed: Sep 14
Last Checked: Sep 14 at 10:06AM
MLS# 26046358
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6-unit apartment property contains 3,432 square feet on a 0.24-acre lot and was built in 1980. All six residences are arranged as one-bedroom units with combined kitchen and dining areas, living rooms, and full bathrooms. Five of the six units are currently occupied. Brick construction, a shingle roof, radiant floor heating, and individual window air-conditioning units define the building’s core improvements. A newly installed deck adds outdoor amenity space, while a parking lot serves the property. Public water is available to the building, and the property is located in Cahokia, Illinois, within St. Clair County.
Key Highlights
- 6‑unit apartment property with 5 of 6 units occupied
- 3,432 square feet on a 0.24‑acre lot
- All‑brick construction with a shingle roof
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,496
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$509,920
$509.9K
Cap Rate 7%
$364,229
$364.2K
Cap Rate 9%
$283,289
$283.3K
Market Conditions
NOI Build-Up for 3,432 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$49.4K $14.40/SF
− Vacancy
−$3.1K −$0.89/SF
EGI
$46.4K $13.51/SF
− OpEx
−$20.9K −$6.08/SF
NOI
$25.5K $7.43/SF
Area
St. Clair County, IL
Vacancy
6.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$509,920
Cap Rate 7%
$364,229
Cap Rate 9%
$283,289
Alternative Uses
Best Use
Apartment 5plus
$364.2K
$318.7K – $424.9K
NOI $25,496 @ 7.0% cap · market cap 9.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$812.5K
$710.9K – $947.9K
NOI $56,873 @ 7.0% cap · market cap 20.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
201
Businesses Nearby
Explore this area
Business Placement
Demographics for 62206, IL
12,929
Population
6,586
Households
2
Avg Household Size
34
Median Age
12%
College-Educated
86%
High-School Grad
14.5 sq mi
ZIP Area
892
Density / Sq Mi
$39,520
Median Household Income
$27,611
Median Earnings
$1,021
Median Rent
$57,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Solid masonry construction with one-bedroom layouts, radiant heat, window cooling, and a newly installed resident deck.
Where is this apartment building located?
The property is located at 109 Jerome Lane Cahokia, IL.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 6‑unit apartment property with 5 of 6 units occupied; 3,432 square feet on a 0.24‑acre lot; All‑brick construction with a shingle roof
