Residential Income Property with
For Sale
$179,900
1000 S Lorraine Road Unit 104, Wheaton, IL 60189
First-floor access, outdoor space, and storage complement this east-facing residence.
Property Size750 SF
Days on Market20
Property Features for 1000 S Lorraine Road Unit 104
General Information
Standard status
Active
Size
750 SF
Property subtype
Ground Level Ranch
Taxes and HOA fees
Annual Taxes
$1,019
Building Details
Building Size
750 SF
Year Built
1971
Listing Agency:
RE/MAX Suburban
Listed By:
Lance Kammes · License #475090263
(630) 653-1900
Source:
Loncarrealty
Added: Sep 16
Changed: Sep 30
Last Checked: Oct 4 at 4:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Suburban
Investment Insights
Based on property information with market context.
This east-facing, first-floor residence was built in 1971 and has new luxury vinyl flooring in the living room, dining area, and bedroom. The kitchen has a Frigidaire refrigerator identified as new for 2026, and a Bosch stackable washer and dryer. Garage parking, outdoor space, and storage are part of the property.
The building offers a lobby and sitting area, mailroom, security system, and covered front entry. Heat, gas, water, garbage service, landscaping, and snow removal are included through the HOA.
The building offers a lobby and sitting area, mailroom, security system, and covered front entry. Heat, gas, water, garbage service, landscaping, and snow removal are included through the HOA.
Key Highlights
- First‑floor residence with east‑facing exposure
- Garage parking, outdoor space, and storage
- New luxury vinyl flooring in the living room, dining area, and bedroom
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
$8,701
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
4.84%
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%
$174,020
$174.0K
Cap Rate 7%
$124,300
$124.3K
Cap Rate 9%
$96,678
$96.7K
Market Conditions
NOI Build-Up for 750 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
$17.0K $22.68/SF
− Vacancy
−$1.2K −$1.59/SF
EGI
$15.8K $21.09/SF
− OpEx
−$7.1K −$9.49/SF
NOI
$8.7K $11.60/SF
Area
DuPage County, IL
Vacancy
7.00%
Lease Rate
$22.68 /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%
$174,020
Cap Rate 7%
$124,300
Cap Rate 9%
$96,678
Alternative Uses
Best Use
Apartment 5plus
$124.3K
$108.8K – $145.0K
NOI $8,701 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$258.9K
$226.6K – $302.1K
NOI $18,126 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Explore this area
Business Placement
Demographics for 60189, IL
30,377
Population
12,397
Households
2.5
Avg Household Size
42
Median Age
66%
College-Educated
97%
High-School Grad
10.4 sq mi
ZIP Area
2,921
Density / Sq Mi
$124,886
Median Household Income
$65,143
Median Earnings
$1,747
Median Rent
$467,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - First-floor access, outdoor space, and storage complement this east-facing residence.
Where is this residential income property located?
The property is located at 1000 S Lorraine Road Unit 104 Wheaton, IL.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: First‑floor residence with east‑facing exposure; Garage parking, outdoor space, and storage; New luxury vinyl flooring in the living room, dining area, and bedroom
