All-Brick Two-Flat with Central
For Sale
$599,000
Pending
1110 South Oak Park Avenue, Oak Park, IL 60304
Well-maintained all-brick two-flat with central A/C for both units, plus an unfinished basement and a fully fenced backyard patio.
Property Size2,450 SF
Days on Market60
Property Features for 1110 South Oak Park Avenue
General Information
Standard status
Pending
Size
2,450 SF
Total Parking Spaces
4
Property subtype
Two to Four Units / 2 Flat
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$16,327
Amenities
central air conditioning
recessed lighting
custom window treatments
soaring ceilings
hardwood floors
fenced backyard
patio
landscaping
basement storage
in-unit laundry
Building Details
Year Built
1911
Stories
2
Construction
brick
Listing Agency:
Laura Maychruk Real Estate
Listed By:
Laura Maychruk · License #471021717
(708) 205-7044
Source:
Compass
Added: Jul 9
Changed: Aug 8
Last Checked: Jul 24 at 3:20PM
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 Laura Maychruk Real Estate
Investment Insights
Based on property information with market context.
Exceptional all-brick two-flat property maintained with an emphasis on updated interiors. The first-floor unit features a spacious living room with a cozy fireplace, a formal dining room, two bedrooms with a shared walk-in closet with custom built-in storage, and a refreshed bathroom with a built-in linen cabinet. The updated kitchen includes abundant cabinetry, slate tile flooring, and a wood-topped peninsula with seating. A bonus room off the kitchen overlooks the backyard, offering flexible space for office, den, or breakfast nook. The second-floor unit offers a bright living room anchored by a fireplace with custom built-in shelving, two spacious bedrooms, two updated full bathrooms, a formal dining room with a built-in buffet, and a high-end eat-in kitchen with glass-front cabinetry, wine refrigerator, and integrated finishes. Both units include central A/C, recessed lighting, custom window treatments, soaring ceilings, and hardwood floors throughout.
Outside, the property includes a fully fenced backyard with a patio and landscaped perennial gardens. An unfinished basement provides storage for both units, along with a dedicated laundry area for the first-floor unit. Additional highlights include a newer roof and newer HVAC and water heater, plus parking for up to four vehicles.
Outside, the property includes a fully fenced backyard with a patio and landscaped perennial gardens. An unfinished basement provides storage for both units, along with a dedicated laundry area for the first-floor unit. Additional highlights include a newer roof and newer HVAC and water heater, plus parking for up to four vehicles.
Key Highlights
- All‑brick 2‑flat built in 1911 with a fully unfinished basement offering storage for both units
- Central A/C for both units, with recessed lighting, custom window treatments, soaring ceilings, and hardwood floors
- First‑floor unit features a refreshed bathroom, updated kitchen with slate tile flooring, and a bonus room overlooking the backyard
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
$31,791
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
5.31%
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%
$635,820
$635.8K
Cap Rate 7%
$454,157
$454.2K
Cap Rate 9%
$353,233
$353.2K
Market Conditions
NOI Build-Up for 2,450 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
$49.1K $20.04/SF
− Vacancy
−$3.7K −$1.50/SF
EGI
$45.4K $18.54/SF
− OpEx
−$13.6K −$5.56/SF
NOI
$31.8K $12.98/SF
Area
Cook 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%
$635,820
Cap Rate 7%
$454,157
Cap Rate 9%
$353,233
Alternative Uses
Best Use
Multifamily LT 5
$454.2K
$397.4K – $529.9K
NOI $31,791 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$406.0K
$355.3K – $473.7K
NOI $28,422 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$845.9K
$740.1K – $986.9K
NOI $59,211 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,185
Businesses Nearby
Explore this area
Business Placement
Demographics for 60304, IL
17,842
Population
6,842
Households
2.6
Avg Household Size
38
Median Age
73%
College-Educated
97%
High-School Grad
1.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$132,841
Median Household Income
$76,027
Median Earnings
$1,279
Median Rent
$470,100
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?
Duplex - Well-maintained all-brick two-flat with central A/C for both units, plus an unfinished basement and a fully fenced backyard patio.
Where is this duplex located?
The property is located at 1110 South Oak Park Avenue Oak Park, IL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: All‑brick 2‑flat built in 1911 with a fully unfinished basement offering storage for both units; Central A/C for both units, with recessed lighting, custom window treatments, soaring ceilings, and hardwood floors; First‑floor unit features a refreshed bathroom, updated kitchen with slate tile flooring, and a bonus room overlooking the backyard
