Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    215 E Oak St Addison, IL 60101

    Sponsored
    For Sale
    Under Contract
    $2,700,000

    MULTI_FAMILY - Addison, IL

    Lot size:
    1.12 Acres
    Days on Market:
    13
    Last Refresh:
    Feb 22 at 7:06 am

    Property Features for 215 E Oak St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active Under Contract
    Zoning
    MULTI
    Rooms
    Bedroom 12, Bathroom 13, Bathroom 18, Bedroom 5, Bedroom 14, Bedroom 13, Bedroom 22, Bathroom 2, Bathroom 8, Bathroom 15, Bathroom 9, Bedroom 9, Bedroom 23, Bedroom 4, Bathroom 6, Bathroom 7, Bathroom 16, Bedroom 15, Bathroom 10, Bathroom 11, Bathroom 1, Bathroom 14, Bedroom 3, Bathroom 3, Bathroom 17, Bedroom 20, Bedroom 17, Bedroom 21, Bedroom 27, Bedroom 8, Bedroom 7, Bedroom 18, Bedroom 24, Bedroom 2, Bedroom 10, Bathroom 5, Bedroom 1, Bathroom 12, Bathroom 4, Bedroom 6, Bedroom 11, Bedroom 25, Bedroom 16, Bedroom 26, Bedroom 19
    Bedrooms
    27
    APN
    0328211028
    Lot size
    1.12 Acres

    Building Details

    Year built
    1972
    Floors in Building
    3
    Number of units
    18
    Building materials
    Brick

    We can help!

    Listing Contact
    Madan Khatri
    Madan Khatri

    Berkshire Hathaway HomeServices American Heritage Real Estate (847) 806-8336

    Listing agent Madan Khatri (847) 530-1550

    Listing date Feb 10, 2026

    MLS# 12456797 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

    Addison Multifamily Investment Opportunity

    This is an all-brick 18-unit apartment property situated in a desirable and accessible location in Addison, Illinois. The building is located close to schools, shopping, restaurants, and expressways, and is near the downtown area. The unit mix comprises nine 2-bedroom units and nine 1-bedroom units. All rents are current. The property is located in DuPage County on a 1.12-acre lot. The property tax information provided is for 2024. Another property for sale is located at 120 S Lincoln. The zoning is MULTI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Addison
    County
    DuPage
    State
    Illinois
    Longitude
    -87.98364
    Latitude
    41.932978

    Nearby Similar for Sale

    • $1,500,000
      0.69 Acres

      Addison Commercial Building For Sale

      Freestanding brick building with office and warehouse space.
      814 S Westwood Ave, Addison, IL 60101
      View Details
    • $3,600,000
      0.93 Acres

      Addison Multifamily Investment Opportunity

      24-unit brick apartment building in a desirable Addison location.
      120 S Lincoln Ave, Addison, IL 60101
      View Details
    • $749,900
      0.66 Acres

      Addison Commercial Building For Sale

      High-visibility commercial building with parking and development potential.
      991 W Lake St, Addison, IL 60101
      View Details
    • $338,900

      Spacious Lakeview Place Penthouse Unit

      Two-story penthouse with garage parking in Lakeview Place.
      1259 W Lake St, Addison, IL 60101
      View Details
    • $199,900

      Addison Condo with Modern Updates

      Updated 2-bedroom condo with amenities in convenient Addison location.
      239 N Mill Rd, Addison, IL 60101
      View Details
    • Contact for pricing
      3,062 SF

      New 7-Eleven NNN Lease

      New construction 7-Eleven with long-term NNN lease near Chicago.
      1740 W Army Trail Blvd, Addison, IL 60101
      View Details
    • Contact for pricing
      37,098 SF

      Addison Industrial Building with Generator

      37,098 SF industrial building with heavy parking and generator.
      130 S Addison Rd, Addison, IL 60101
      View Details
    • Contact for pricing
      500 SF

      Charming Condo with Private Balcony

      Bright 1 bed, 1 bath condo near shopping and highways.
      215 S Hale St, Addison, IL 60101
      View Details
    • $1,700,000

      Addison Commercial Building Investment

      12-Unit Multifamily, High Demand Area
      343 Mill Rd, Addison, IL 60101
      View Details
    • $1,400,000
      10,000 SF

      Addison Industrial Building - Great Location

      10,000 SF Freestanding Building, Excellent Access
      814 Westwood Ave, Addison, IL 60101
      View Details
    • Contact for pricing
      25,687 SF

      Industrial Facility with Expansion Potential

      Well-located industrial facility with office space and expansion potential.
      777 Factory Rd, Addison, IL 60101
      View Details
    • $824,900
      5,328 SF

      Addison Retail Space - Lake Street

      High-traffic retail building, excellent visibility.
      1099 Lake St, Addison, IL 60101
      View Details

    FAQs

    What type of property is this?
    Apartment building - All-brick 18-unit apartment building in a desirable Addison location.
    Where is this apartment building located?
    The property is located at 215 E Oak St Addison, IL.
    What is the asking price?
    The asking price for this property is $2,700,000.
    What are key features of this property?
    This property features: - 18-Unit all brick apartment building.; - Desirable and accessible location near schools, shopping, restaurants, and expressways.; - Mix of nine 2-BR and nine 1-BR units.
    (847) 806-8336
    Request Owner's contact information
    215 E Oak St Addison, IL 60101
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    215 E Oak St
    Addison, IL 60101
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    215 E Oak St Addison, IL 60101
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Madan Khatri
    Madan Khatri
    Real Estate License ID: 471017783
    (847) 806-8336 (847) 530-1550 (847) 364-6030
    Learn more
    Google sign-in failed. Please try again or use another login method.