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    900 Greenbrier Rd DeKalb, IL 60115

    Sponsored
    For Sale
    $510,000

    Vacant Fraternity House - Redevelopment Opportunity

    Property size:
    9,600 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    340
    This exceptional 9,600 square foot commercial property, located at 900 Greenbrier Road in DeKalb, Illinois, presents a unique investment opportunity. Currently vacant, this three-story building previously served as a fraternity house on the Northern Illinois University campus. The property boasts 28 bedrooms, offering significant potential for various uses. Shared bathroom and shower facilities are conveniently located on each floor. A full, finished basement includes a functional kitchen, adding further versatility. The property's proximity to Northern Illinois University makes it ideally suited for student housing, a use it previously enjoyed. However, its size and layout also lend themselves to conversion into apartments, offering a strong potential for rental income. This receivership sale presents a chance to acquire a substantial property at an attractive price. The building is being sold as-is, and the sale is contingent upon court approval. Serious inquiries are encouraged to explore the possibilities this property offers. The property sits on a lot with no acreage listed. The asking price is $510,000. All interested parties should be prepared to navigate the legal processes associated with a receivership sale. This is a rare opportunity to acquire a large, well-located building with significant redevelopment potential in a vibrant college town.

    Property Features for 900 Greenbrier Rd

    General Information

    Property type
    Other commercial real estate
    Square Feet
    9,600 SF

    Building Details

    Year Built
    1965
    Property Profile Location Intelligence

    Current Use by Public Records

    Sigma Alpha Mu ... Fraternal Organization Sigma Alpha Mu Fraternal Organization

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    DeKalb
    County
    DeKalb
    State
    Illinois
    Longitude
    -88.76847
    Latitude
    41.94387

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    FAQs

    What type of property is this?
    Commercial real estate - Vacant Fraternity House - Redevelopment Opportunity
    Where is this commercial real estate located?
    The property is located at 900 Greenbrier Rd DeKalb, IL.
    What is the asking price?
    The asking price for this property is $510,000.
    (312) 338-3000
    Request Owner's contact information
    900 Greenbrier Rd DeKalb, IL 60115
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    DeKalb, IL 60115
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    900 Greenbrier Rd DeKalb, IL 60115
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