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

    3428 Salem Walk Northbrook, IL 60062

    View on Map
    Sponsored
    For Sale
    Under Contract
    $1,250,000

    MULTI_FAMILY - Northbrook, IL

    Days on Market:
    44
    Last Refresh:
    Mar 14 at 1:06 pm

    Property Features for 3428 Salem Walk

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active Under Contract
    Zoning
    MULTI
    Rooms
    Bathroom 2, Bathroom 9, Bedroom 23, Bathroom 12, Bathroom 16, Bedroom 16, Bedroom 19, Bedroom 9, Bedroom 10, Bedroom 2, Bathroom 14, Bedroom 39, Bedroom 35, Bathroom 19, Bedroom 25, Bedroom 29, Bedroom 1, Bedroom 8, Bathroom 1, Bedroom 26, Bedroom 38, Bedroom 6, Bedroom 4, Bedroom 30, Bathroom 8, Bathroom 7, Bedroom 37, Bedroom 24, Bedroom 11, Bathroom 20, Bedroom 13, Bedroom 36, Bathroom 10, Bathroom 5, Bathroom 11, Bedroom 34, Bedroom 28, Bedroom 20, Bathroom 15, Bathroom 18, Bedroom 12, Bedroom 5, Bedroom 40, Bedroom 21, Bathroom 21, Bathroom 4, Bedroom 33, Bedroom 27, Bedroom 41, Bathroom 17, Bedroom 3, Bedroom 32, Bedroom 18, Bedroom 22, Bathroom 6, Bedroom 15, Bedroom 31, Bathroom 3, Bedroom 17, Bedroom 7, Bedroom 14, Bathroom 13
    Bedrooms
    41
    APN
    04302100620000

    Building Details

    Year built
    1978
    Floors in Building
    3
    Number of units
    6
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Herbert Straus
    Herbert Straus

    Keller Williams Thrive (847) 241-2200

    Listing agent Herbert Straus (847) 241-2310

    Listing date Jan 29, 2026

    MLS# 12546125 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

    Northbrook Multifamily Investment Opportunity

    This fully occupied 6-unit building in Northbrook, Illinois, presents an investment opportunity for both beginner and seasoned investors. The property features five 2-bedroom units and one 1-bedroom unit. Each unit includes a dishwasher and wall unit air conditioning, and either a balcony or a patio. Residents have access to a scenic lake, a pool, a tennis court, and a clubhouse. The building also offers coin laundry and storage space. Ample parking is available. Monthly assessments cover landscaping, snow plowing, parking lot maintenance, and scavenger services. The property is zoned MULTI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Northbrook
    County
    Adams
    State
    Illinois
    Longitude
    -87.869026
    Latitude
    42.089828

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    FAQs

    What type of property is this?
    Apartment building - Fully occupied 6-unit building with amenities in Northbrook, Illinois.
    Where is this apartment building located?
    The property is located at 3428 Salem Walk Northbrook, IL.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: - Fully occupied 6-unit building provides immediate rental income.; - Amenities include a pool, tennis court, and clubhouse.; - Each unit has a balcony or patio.
    (847) 241-2310
    Request Owner's contact information
    3428 Salem Walk Northbrook, IL 60062
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    Northbrook, IL 60062
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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
    3428 Salem Walk Northbrook, IL 60062
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    We can help!
    Listing Contact
    Herbert Straus
    Herbert Straus
    Real Estate License ID: 475146106
    (847) 241-2310 (847) 241-2200 (847) 347-8304
    Learn more
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