Two-Story 4-Unit
For Sale
$585,000
101 N 1st St, Geneva, IL 60134
Two-story building with off-street parking and full occupancy.
Property Size2,440 SF
Price / SF$239.75
Days on Market193
Property Features for 101 N 1st St
General Information
Standard status
Active
Size
2,440 SF
Property subtype
MultiFamily Apartments
Occupancy
100%
Additional Details
Multifamily Units
4
Building Details
Building Size
2,440 SF
Year Built
1908
Stories
2
Listing Agency:
SVN | Landmark Commercial Real Estate
(630) 254-4734
Listed By:
Jeff Cadwallader · License #475116201
(630) 254-4734
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 1:07AM
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 | Landmark Commercial Real Estate
Investment Insights
Based on property information with market context.
This 2,440-square-foot quadplex in Geneva, Illinois, contains four residential units within a two-story building constructed in 1908. The property is currently 100% occupied and includes off-street parking. Its early-twentieth-century construction provides established architectural character while supporting a four-unit residential configuration.
The property is located at 101 N 1st St, one block from the Fox River and downtown Geneva. State Street, identified as IL Rt 38, is one block south, providing access through the downtown area and to major thoroughfares. Public parks, bike paths, restaurants, shops, and other local amenities are nearby.
The property is located at 101 N 1st St, one block from the Fox River and downtown Geneva. State Street, identified as IL Rt 38, is one block south, providing access through the downtown area and to major thoroughfares. Public parks, bike paths, restaurants, shops, and other local amenities are nearby.
Key Highlights
- Four‑unit quadplex with 2,440 SF of building area
- Two‑story construction dating to 1908
- Currently 100% occupied
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
$31,661
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
5.41%
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%
$633,220
$633.2K
Cap Rate 7%
$452,300
$452.3K
Cap Rate 9%
$351,789
$351.8K
Market Conditions
NOI Build-Up for 2,440 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
$48.9K $20.04/SF
− Vacancy
−$3.7K −$1.50/SF
EGI
$45.2K $18.54/SF
− OpEx
−$13.6K −$5.56/SF
NOI
$31.7K $12.98/SF
Area
Kane County, IL
Vacancy
7.50%
Lease Rate
$20.04 /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%
$633,220
Cap Rate 7%
$452,300
Cap Rate 9%
$351,789
Alternative Uses
Best Use
Multifamily LT 5
$452.3K
$395.8K – $527.7K
NOI $31,661 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$404.4K
$353.8K – $471.8K
NOI $28,306 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$842.4K
$737.1K – $982.8K
NOI $58,969 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,787
Businesses Nearby
Explore this area
Business Placement
Demographics for 60134, IL
30,503
Population
11,159
Households
2.7
Avg Household Size
42
Median Age
66%
College-Educated
97%
High-School Grad
14.6 sq mi
ZIP Area
2,089
Density / Sq Mi
$148,283
Median Household Income
$66,586
Median Earnings
$1,816
Median Rent
$427,300
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 - Two-story building with off-street parking and full occupancy.
Where is this quadplex located?
The property is located at 101 N 1st St Geneva, IL.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Four‑unit quadplex with 2,440 SF of building area; Two‑story construction dating to 1908; Currently 100% occupied
