Quadplex with Private
For Sale
$599,900
Pending
4968 Pine Meadow Parkway, Loves Park, IL 61111
MULTIFAMILY, LOVES PARK, IL
Property Size4,568 SF
Days on Market28
Property Features for 4968 Pine Meadow Parkway
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 6, Bathroom 1, Bedroom 8, Bedroom 7, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 3
Parking
4
Appliances
Dryer, Refrigerator, Stove/Cooktop, Washer
Elementary school
Ralston Elementary
Middle school
Harlem Jr
High school
Harlem High School
Elementary school district
Harlem 122
Middle school district
Harlem 122
High school district
Harlem 122
Subdivision
Winnebago County
Standard status
Pending
APN
0834402013
Size
4,568 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
PINE MEADOW PT SE1/4 SEC 34-45-2 LOT 23
Tax Annual Amount
9924
Legal Description
PINE MEADOW PT SE1/4 SEC 34-45-2 LOT 23
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Amenities
private outdoor space
in-unit laundry
large mudroom area
private garages
Building Details
Year built
1996
Floors in Building
2
Number of units
4
Roof type
Shingle
Listing Agency:
DICKERSON & NIEMAN
(815) 227-5900
Listed By:
Larry Holen · License #471007097
(815) 308-0128
Added: Aug 3
Changed: Aug 19
Last Checked: Aug 30 at 1:06PM
MLS# 202604783
Copyright © 2026 NorthWest Illinois Alliance of REALTORS. 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 4,568-square-foot quadplex was built in 1996 and includes four residential units. Each unit has a private outdoor area accessed through a living-room slider, along with an in-unit washer and dryer. Additional unit features include a large mudroom, separate furnaces, and separate water heaters. Private 1-car garages are provided for tenants, with additional parking available for guests.
The property is near the I-90/I-39 corridor. Building systems include natural-gas forced-air heating and central air conditioning, with a shingle roof. Included appliances are refrigerators, stove/cooktops, washers, and dryers.
The property is near the I-90/I-39 corridor. Building systems include natural-gas forced-air heating and central air conditioning, with a shingle roof. Included appliances are refrigerators, stove/cooktops, washers, and dryers.
Key Highlights
- 4,568 SF quadplex built in 1996
- Each unit includes private outdoor space with a living‑room slider
- In‑unit washer and dryer included in every unit
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
$45,338
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
7.56%
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%
$906,760
$906.8K
Cap Rate 7%
$647,686
$647.7K
Cap Rate 9%
$503,756
$503.8K
Market Conditions
NOI Build-Up for 4,568 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
$70.2K $15.36/SF
− Vacancy
−$5.4K −$1.18/SF
EGI
$64.8K $14.18/SF
− OpEx
−$19.4K −$4.25/SF
NOI
$45.3K $9.93/SF
Area
Winnebago County, IL
Vacancy
7.69%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
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%
$906,760
Cap Rate 7%
$647,686
Cap Rate 9%
$503,756
Alternative Uses
Best Use
Multifamily LT 5
$647.7K
$566.7K – $755.6K
NOI $45,338 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$573.9K
$502.2K – $669.6K
NOI $40,175 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,157 @ 7.0% cap · market cap 14.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 61111, IL
23,028
Population
10,248
Households
2.2
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
14.2 sq mi
ZIP Area
1,622
Density / Sq Mi
$58,391
Median Household Income
$42,751
Median Earnings
$1,101
Median Rent
$143,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with individual outdoor areas, in-unit laundry, separate mechanical systems, and guest parking.
Where is this quadplex located?
The property is located at 4968 Pine Meadow Parkway Loves Park, IL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 4,568 SF quadplex built in 1996; Each unit includes private outdoor space with a living‑room slider; In‑unit washer and dryer included in every unit
