Tri-Taylor 30 Unit
For Sale
Contact for pricing
Pending
1007-1011 S Oakley Blvd, Chicago, IL 60612
3 buildings, 30 units in Chicago's West Side.
Property Size30,800 SF
Days on Market196
Property Features for 1007-1011 S Oakley Blvd
General Information
Standard status
Pending
Size
30,800 SF
Class
B
Property subtype
Multifamily
Net Operating Income
$384,441
Building Details
Units
30
Listing Agency:
SVN Chicago Commercial
Listed By:
Joe Connelly · License #475202263 IL
Source:
Crexi
Added: Feb 9
Changed: Aug 15
Last Checked: Aug 22 at 12:17PM
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 SVN Chicago Commercial
Investment Insights
Based on property information with market context.
The Tri-Taylor 30 Portfolio is located in one of the most sought-after neighborhoods of Chicago's West Side. The portfolio comprises three buildings and 30 units. The unit mix consists of one retail space, sixteen 2-bedroom, one-bath apartments, and thirteen 3-bedroom, one-bath apartments. Heat is provided by central forced air, and the majority of the portfolio has air conditioning. The majority of the units are equipped with updated kitchens and baths, newer cabinets, stainless steel appliances, newer windows, a newer roof, and basement laundry. The offering includes the following multifamily buildings: 1007-1011 S Oakley Blvd (18 units), 608 S Oakley Blvd (4 units), and 1447 W Taylor St (8 units). The property size is 30800 square feet.
Key Highlights
- Portfolio of 3 buildings totaling 30 units in the sought‑after Tri‑Taylor/Near West Side neighborhood.
- Attractive mix of (16) 2‑bedroom and (13) 3‑bedroom apartments, plus (1) retail unit.
- Updated kitchens and baths with newer cabinets and stainless steel appliances in most units.
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
$472,138
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
7.68%
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%
$9,442,760
$9.4M
Cap Rate 7%
$6,744,829
$6.7M
Cap Rate 9%
$5,245,978
$5.2M
Market Conditions
NOI Build-Up for 30,800 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
$905.5K $29.40/SF
− Vacancy
−$47.1K −$1.53/SF
EGI
$858.4K $27.87/SF
− OpEx
−$386.3K −$12.54/SF
NOI
$472.1K $15.33/SF
Area
Chicago, IL
Vacancy
5.20%
Lease Rate
$29.40 /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%
$9,442,760
Cap Rate 7%
$6,744,829
Cap Rate 9%
$5,245,978
Alternative Uses
Best Use
Apartment 5plus
$6.74M
$5.90M – $7.87M
NOI $472,138 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.52M
$12.71M – $16.94M
NOI $1,016,548 @ 7.0% cap · market cap 16.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 60612, IL
34,402
Population
16,763
Households
2.1
Avg Household Size
34
Median Age
41%
College-Educated
89%
High-School Grad
3.7 sq mi
ZIP Area
9,298
Density / Sq Mi
$60,457
Median Household Income
$46,582
Median Earnings
$1,330
Median Rent
$331,600
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?
Apartment building - 3 buildings, 30 units in Chicago's West Side.
Where is this apartment building located?
The property is located at 1007-1011 S Oakley Blvd Chicago, IL.
What is the asking price?
The asking price for this property is $6,150,000.
What are key features of this property?
This property features: Portfolio of 3 buildings totaling 30 units in the sought‑after Tri‑Taylor/Near West Side neighborhood.; Attractive mix of (16) 2‑bedroom and (13) 3‑bedroom apartments, plus (1) retail unit.; Updated kitchens and baths with newer cabinets and stainless steel appliances in most units.
