Multifamily Portfolio with Renovation
For Sale
Contact for pricing
1000 Sarah Constant Ln., Schaumburg, IL 60194
Fully leased condominium-based rental portfolio with association-managed exteriors and a mix of one- and two-bedroom apartments.
Property Size15,300 SF
Price / SF$174.12
Days on Market124
Property Features for 1000 Sarah Constant Ln.
General Information
Standard status
Active
Size
15,300 SF
Property subtype
Multifamily
Occupancy
94%
Investment Type
Value Add
Net Operating Income
$115,912
Units
Unit Mix
12 x 2BR/1BA, 6 x 1BR/1BA
Multifamily Units
18
Amenities
in-unit washer and dryer
dishwasher
air conditioning
Building Details
Buildings
3
Units
18
Tenancy
Multi
Listing Agency:
Brian Properties, Inc.
(847) 727-4287
Listed By:
Phil Brand · License #475.204913
Source:
Crexi
Added: Apr 30
Changed: Aug 30
Last Checked: Aug 30 at 8:15PM
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 Brian Properties, Inc.
Investment Insights
Based on property information with market context.
This offering includes 18 rental units organized as three six-unit groupings within condominium buildings. The unit mix comprises twelve two-bedroom/one-bath apartments and six one-bedroom/one-bath apartments. Every residence includes a washer and dryer, dishwasher, and air conditioning, while tenants pay electric service. The portfolio is fully leased and offered as one package.
The condominium association oversees exterior upkeep and shared property elements, including roofs, windows, doors, parking, snow removal, and landscaping. Association assessments also cover boiler-fed baseboard heat and water, concentrating ownership responsibilities on the interiors. Five units have completed renovations; the remaining thirteen provide a consistent interior improvement program. Updated apartments feature refreshed kitchens with cabinetry, backsplash, sink, faucet, and stainless steel appliances, plus remodeled bathrooms, new flooring, and interior paint.
The condominium association oversees exterior upkeep and shared property elements, including roofs, windows, doors, parking, snow removal, and landscaping. Association assessments also cover boiler-fed baseboard heat and water, concentrating ownership responsibilities on the interiors. Five units have completed renovations; the remaining thirteen provide a consistent interior improvement program. Updated apartments feature refreshed kitchens with cabinetry, backsplash, sink, faucet, and stainless steel appliances, plus remodeled bathrooms, new flooring, and interior paint.
Key Highlights
- 18‑unit rental portfolio offered as a single package
- Unit mix includes twelve two‑bedroom/one‑bath and six one‑bedroom/one‑bath apartments
- All units are leased and include in‑unit laundry, dishwashers, and air conditioning
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
$177,493
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
6.66%
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%
$3,549,860
$3.5M
Cap Rate 7%
$2,535,614
$2.5M
Cap Rate 9%
$1,972,144
$2.0M
Market Conditions
NOI Build-Up for 15,300 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
$347.0K $22.68/SF
− Vacancy
−$24.3K −$1.59/SF
EGI
$322.7K $21.09/SF
− OpEx
−$145.2K −$9.49/SF
NOI
$177.5K $11.60/SF
Area
Cook 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%
$3,549,860
Cap Rate 7%
$2,535,614
Cap Rate 9%
$1,972,144
Alternative Uses
Best Use
Apartment 5plus
$2.54M
$2.22M – $2.96M
NOI $177,493 @ 7.0% cap · market cap 6.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.28M
$4.62M – $6.16M
NOI $369,767 @ 7.0% cap · market cap 13.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
Explore this area
Business Placement
Demographics for 60194, IL
20,622
Population
8,325
Households
2.5
Avg Household Size
41
Median Age
50%
College-Educated
95%
High-School Grad
3.7 sq mi
ZIP Area
5,574
Density / Sq Mi
$97,876
Median Household Income
$60,835
Median Earnings
$1,897
Median Rent
$310,600
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?
Multifamily property - Fully leased condominium-based rental portfolio with association-managed exteriors and a mix of one- and two-bedroom apartments.
Where is this multifamily property located?
The property is located at 1000 Sarah Constant Ln. Schaumburg, IL.
What is the asking price?
The asking price for this property is $2,664,000.
What are key features of this property?
This property features: 18‑unit rental portfolio offered as a single package; Unit mix includes twelve two‑bedroom/one‑bath and six one‑bedroom/one‑bath apartments; All units are leased and include in‑unit laundry, dishwashers, and air conditioning
