Building Details

Building Size 850 SF

Year Built 1972

Listing Agency: Century 21 Circle

Listed By: Mark Vaccaro · License #471021485 Show Phone

Source: Kw

Added: Aug 19, 2025 Changed: Sep 23 Last Checked: Oct 4 at 8:43AM

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Investment Insights

Based on property information with market context.

This first-floor condo features flexicore construction, which reduces noise from upper floors. The unit includes one bedroom and one bathroom, along with a large 8x8 walk-in closet that could serve as an office or additional room. The living room, dining room, and kitchen have granite flooring. The kitchen is updated with granite countertops, oak cabinets, a dishwasher, and a countertop microwave, all approximately 8 years old, along with a newer hood vent and stove/oven. The bathroom was remodeled about 8 years ago and features luxury vinyl flooring, a matching tub/shower surround, a new vanity, and a toilet. A storage unit and coin laundry are located across the hall. The furnace is approximately 10 years old. Sliding glass doors in the living room open to a spacious west-facing patio. The low monthly HOA fee covers heat, gas, water, common area maintenance, landscape, lawn care, and snow removal. This unit is rentable, making it suitable for an investment portfolio.

Key Highlights

• First‑floor unit in flexicore construction building ensures quiet living.
• Low monthly HOA fee covers heat, gas, water, common area maintenance, landscaping, and snow removal.
• Spacious 8x8 walk‑in closet offers versatility as an office or additional room.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$9,861

Cap Rate

8.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$197,220 $197.2K

Cap Rate 7%

$140,871 $140.9K

Cap Rate 9%

$109,567 $109.6K

Market Conditions

NOI Build-Up for 850 SF

Gross rent

$19.3K $22.68/SF

− Vacancy

−$1.3K −$1.59/SF

EGI

$17.9K $21.09/SF

− OpEx

−$8.1K −$9.49/SF

NOI

$9.9K $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 Rate 5%

$197,220

Cap Rate 7%

$140,871

Cap Rate 9%

$109,567

Alternative Uses

Best Use

Apartment 5plus

$140.9K

$123.3K – $164.4K (±1% cap)

NOI $9,861 @ 7.0% cap · market cap 8.96%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$293.5K

$256.8K – $342.4K (±1% cap)

NOI $20,543 @ 7.0% cap · market cap 18.68%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Rainbow Clean & Shine ... Hardware & Home Improvement

Suggested Use

Top Pick Parking Lot & Garage Big Box & Wholesale Store Daycare Center (Bike/Boat/Book/etc) Store Furniture & Home Goods Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,192

Businesses Nearby

Explore this area Business Placement

Demographics for 60453, IL

58,362

Population

23,115

Households

2.5

Avg Household Size

40

Median Age

30%

College-Educated

90%

High-School Grad

8.5 sq mi

ZIP Area

6,866

Density / Sq Mi

$82,493

Median Household Income

$48,810

Median Earnings

$1,310

Median Rent

$267,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Spacious, updated condo with large walk-in closet and west-facing patio.

Where is this apartment building located?

The property is located at 10840 Kilpatrick Avenue #1NW Oak Oak Lawn, IL.

What is the asking price?

The asking price for this property is $110,000.

What are key features of this property?

This property features: First‑floor unit in flexicore construction building ensures quiet living.; Low monthly HOA fee covers heat, gas, water, common area maintenance, landscaping, and snow removal.; Spacious 8x8 walk‑in closet offers versatility as an office or additional room.