Six-Unit Apartment
For Sale
$925,000
Pending
1119 Elizabeth Ct, Crest Hill, IL 60403
All-electric multifamily property with updated building systems, resident-paid electric, and on-site laundry facilities.
Property Size4,000 SF
Days on Market71
Property Features for 1119 Elizabeth Ct
General Information
Standard status
Pending
Size
4,000 SF
Total Parking Spaces
8
Property subtype
Commercial
Units
Unit Mix
4 x 2BR/1.1BA, 2 x 2BR/1BA
Multifamily Units
6
Amenities
laundry room
Building Details
Year Built
1978
Listing Agency:
Michele Morris Realty
Listed By:
Michele Morris · License #471002173
(630) 669-4469
Source:
Searchillinoishomesforsale
Added: Aug 12
Changed: Oct 1
Last Checked: Oct 20 at 9:39PM
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 Michele Morris Realty
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Investment Insights
Based on property information with market context.
Built in 1978, this six-unit apartment building includes four two-bedroom units with 1.1 baths and two two-bedroom units with one bath. The all-electric property has a newer roof, replacement windows, and newer HVAC units. Residents pay their own electric bills, supporting a straightforward utility arrangement.
The building sits on a cul-de-sac at 1119 Elizabeth Court in Crest Hill, Illinois, with off-street parking for 8 cars. A dedicated laundry room contains coin-operated machines, providing an additional income source. The property’s unit mix and on-site amenities offer a practical multifamily configuration.
The building sits on a cul-de-sac at 1119 Elizabeth Court in Crest Hill, Illinois, with off-street parking for 8 cars. A dedicated laundry room contains coin-operated machines, providing an additional income source. The property’s unit mix and on-site amenities offer a practical multifamily configuration.
Key Highlights
- Six‑unit apartment building with four two‑bedroom, 1.1‑bath units and two two‑bedroom, 1‑bath units
- Built in 1978
- Off‑street parking for 8 cars on a cul‑de‑sac
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,403
Cap Rate
5.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$928,060
$928.1K
Cap Rate 7%
$662,900
$662.9K
Cap Rate 9%
$515,589
$515.6K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$90.7K $22.68/SF
− Vacancy
−$6.4K −$1.59/SF
EGI
$84.4K $21.09/SF
− OpEx
−$38.0K −$9.49/SF
NOI
$46.4K $11.60/SF
Area
Will 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%
$928,060
Cap Rate 7%
$662,900
Cap Rate 9%
$515,589
Alternative Uses
Best Use
Apartment 5plus
$662.9K
$580.0K – $773.4K
NOI $46,403 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$907.2K
$793.8K – $1.06M
NOI $63,504 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
329
Businesses Nearby
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Business Placement
Demographics for 60403, IL
17,667
Population
7,884
Households
2.2
Avg Household Size
41
Median Age
24%
College-Educated
91%
High-School Grad
4.9 sq mi
ZIP Area
3,606
Density / Sq Mi
$71,413
Median Household Income
$41,597
Median Earnings
$1,386
Median Rent
$223,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - All-electric multifamily property with updated building systems, resident-paid electric, and on-site laundry facilities.
Where is this apartment building located?
The property is located at 1119 Elizabeth Ct Crest Hill, IL.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Six‑unit apartment building with four two‑bedroom, 1.1‑bath units and two two‑bedroom, 1‑bath units; Built in 1978; Off‑street parking for 8 cars on a cul‑de‑sac
