Listing Agency: RE/MAX Realty Associates Show Phone

Listed By: Michael Hogue · License #475134094 Show Phone

Source: Exprealty

Added: Aug 18 Changed: Oct 26 Last Checked: Nov 1 at 7:48AM

Report an Issue

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 RE/MAX Realty Associates

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This four-unit apartment property in Saybrook includes three one-bedroom, one-bath residences and one two-bedroom, one-bath residence. The mix offers a range of apartment configurations within a single multifamily building, while spacious bedrooms support practical residential layouts.

Interior improvements include new paint, updated flooring, and modern lighting throughout. Two apartments have also been refurbished and are ready for occupancy. Building updates include a newer roof and a newer water heater serving the entire property. The property is located at 114 E Lincoln St in Saybrook, Illinois.

Key Highlights

• Four‑unit multifamily building at 114 E Lincoln St, Saybrook, IL
• Unit mix includes three one‑bedroom, one‑bath apartments and one two‑bedroom, one‑bath apartment
• Fresh paint, updated flooring, and modern lighting throughout

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$10,236

Cap Rate

4.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$204,720 $204.7K

Cap Rate 7%

$146,229 $146.2K

Cap Rate 9%

$113,733 $113.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,470 SF

Gross rent

$15.2K $10.32/SF

− Vacancy

−$548 −$0.37/SF

EGI

$14.6K $9.95/SF

− OpEx

−$4.4K −$2.98/SF

NOI

$10.2K $6.96/SF

Area

McLean County, IL

Vacancy

3.61%

Lease Rate

$10.32 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$204,720

Cap Rate 7%

$146,229

Cap Rate 9%

$113,733

Alternative Uses

Best Use

Multifamily LT 5

$146.2K

$128.0K – $170.6K (±1% cap)

NOI $10,236 @ 7.0% cap · market cap 4.55%

Second Best

Apartment 5plus

$128.0K

$112.0K – $149.3K (±1% cap)

NOI $8,960 @ 7.0% cap · market cap 3.98%

Theoretical Best

Office A

$306.4K

$268.1K – $357.5K (±1% cap)

NOI $21,450 @ 7.0% cap · market cap 9.53%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

50

Businesses Nearby

Explore this area Business Placement

Demographics for 61770, IL

996

Population

424

Households

2.3

Avg Household Size

44

Median Age

13%

College-Educated

82%

High-School Grad

60.5 sq mi

ZIP Area

16

Density / Sq Mi

$62,212

Median Household Income

$38,750

Median Earnings

$888

Median Rent

$101,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Frequently Asked Questions

What type of property is this?

Quadplex - Unit mix includes three one-bedroom apartments and one two-bedroom apartment, with refreshed interiors and building-wide mechanical updates.

Where is this quadplex located?

The property is located at 114 E Lincoln St Saybrook, IL.

What is the asking price?

The asking price for this property is $225,000.

What are key features of this property?

This property features: Four‑unit multifamily building at 114 E Lincoln St, Saybrook, IL; Unit mix includes three one‑bedroom, one‑bath apartments and one two‑bedroom, one‑bath apartment; Fresh paint, updated flooring, and modern lighting throughout