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    The Largest CRE Database in the US with Over 1 Million Listings

    1542 Victoria Ave North Chicago, IL 60064

    Sponsored
    For Sale
    $1,289,900

    MULTI_FAMILY - North Chicago, IL

    Lot size:
    0.21 Acres
    Days on Market:
    105
    Last Refresh:
    Feb 2 at 7:06 am

    Property Features for 1542 Victoria Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    MULTI
    Rooms
    Bathroom 14, Bathroom 29, Bathroom 25, Bedroom 62, Bedroom 76, Bathroom 12, Bathroom 2, Bathroom 7, Bedroom 33, Bathroom 18, Bedroom 53, Bedroom 94, Bathroom 10, Bedroom 90, Bedroom 80, Bathroom 20, Bedroom 34, Bedroom 48, Bedroom 10, Bedroom 13, Bathroom 34, Bedroom 29, Bedroom 54, Bathroom 37, Bedroom 70, Bedroom 16, Bedroom 73, Bedroom 93, Bedroom 19, Bedroom 69, Bedroom 60, Bathroom 6, Bathroom 15, Bedroom 11, Bedroom 18, Bedroom 96, Bedroom 71, Bathroom 11, Bedroom 86, Bedroom 87, Bedroom 58, Bedroom 61, Bedroom 35, Bathroom 27, Bathroom 35, Bathroom 32, Bedroom 28, Bathroom 19, Bathroom 31, Bedroom 24, Bedroom 31, Bedroom 46, Bathroom 13, Bedroom 17, Bedroom 65, Bedroom 64, Bedroom 6, Bedroom 84, Bedroom 63, Bathroom 8, Bedroom 56, Bedroom 74, Bathroom 1, Bathroom 24, Bedroom 43, Bedroom 4, Bedroom 47, Bedroom 83, Bedroom 3, Bedroom 27, Bedroom 12, Bedroom 89, Bedroom 45, Bedroom 75, Bedroom 7, Bedroom 82, Bathroom 23, Bathroom 5, Bedroom 9, Bedroom 55, Bedroom 5, Bedroom 49, Bedroom 25, Bedroom 78, Bathroom 4, Bedroom 39, Bathroom 26, Bedroom 79, Bedroom 59, Bathroom 33, Bedroom 42, Bedroom 50, Bathroom 30, Bedroom 51, Bedroom 38, Bathroom 21, Bathroom 28, Bedroom 20, Bedroom 30, Bedroom 66, Bedroom 95, Bathroom 36, Bedroom 68, Bedroom 44, Bathroom 22, Bedroom 2, Bedroom 37, Bedroom 57, Bedroom 22, Bedroom 36, Bedroom 85, Bedroom 92, Bedroom 23, Bedroom 72, Bedroom 67, Bathroom 9, Bedroom 15, Bedroom 1, Bedroom 26, Bathroom 3, Bathroom 17, Bedroom 32, Bathroom 16, Bedroom 81, Bedroom 91, Bedroom 8, Bedroom 77, Bedroom 14, Bedroom 88, Basement, Bedroom 21, Bedroom 52, Bedroom 40, Bedroom 41
    Bedrooms
    96
    APN
    08333070390000
    Basement
    Unfinished
    Lot size
    0.21 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1910
    Floors in Building
    3
    Number of units
    6
    Building materials
    Vinyl Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    Basel Tarabein
    Basel Tarabein

    TARABEIN INC. D/BA RE/MAX AT HOME (847) 255-1000

    Listing agent Basel Tarabein (847) 255-1970

    Listing date Oct 21, 2025

    MLS# 12355994 Listing URL

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Turnkey Multifamily Property, North Chicago

    This is a fully renovated six-unit multifamily property, professionally rebuilt from the studs up under full architectural and structural engineering plans. The property offers a 9% cap rate and requires no deferred maintenance. Each of the six units has been completely updated to modern standards, including new mechanical systems and high-quality finishes. Plumbing updates include new drain and copper water lines, plus two new 50-gallon water heaters installed in 2024. The electrical system features new conduit, wiring, and individual metering, with updated service panels and circuit breakers in each unit. Each unit has a new gas furnace, A/C unit, ductwork, and thermostat, along with seven new gas meters. Exterior improvements include a new roof, gutters, fascia, soffits, and energy-efficient windows. Interiors feature new kitchens with stainless steel appliances, granite countertops, modern cabinetry, and LVP flooring. Bathrooms have been updated with new tubs, vanities, toilets, and custom tilework. The property includes a smart lock system with remote access control for owners and tenants, as well as a new commercial-grade, stacked card-reader washer/dryer. Additional infrastructure improvements include a new sewer main cleanout and LED lighting throughout. There are 10 parking spaces, with 8 in the rear and 2 via private driveway for Unit 1, plus street parking. The property is located in North Chicago, IL, on a lot of 0.21 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North Chicago
    County
    Lake
    State
    Illinois
    Longitude
    -87.843886
    Latitude
    42.330923

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    FAQs

    What type of property is this?
    Apartment building - Fully renovated 6-unit building with a 9% cap rate.
    Where is this apartment building located?
    The property is located at 1542 Victoria Ave North Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,289,900.
    What are key features of this property?
    This property features: - High Cap Rate: Turnkey 6-unit multifamily property with a strong 9% cap rate.; - Complete Renovation: Professionally rebuilt from the studs up with architectural and structural engineering plans.; - Modern Unit Updates: Each unit features new kitchens with stainless steel appliances and granite countertops, updated bathrooms with custom tilework, and LVP flooring.
    (847) 255-1970
    Request Owner's contact information
    1542 Victoria Ave North Chicago, IL 60064
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    North Chicago, IL 60064
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1542 Victoria Ave North Chicago, IL 60064
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    We can help!
    Listing Contact
    Basel Tarabein
    Basel Tarabein
    Real Estate License ID: IL 471008459
    (847) 255-1970
    Learn more
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