Three-Unit Residential Income
1147 East Lincoln Highway Dekalb, IL 60115
1147 East Lincoln Highway, Dekalb, IL, 60115
$197,500
For Sale
$197,500
Spacious three-unit apartment building with a large first-floor 2-bedroom unit plus two 1-bedroom apartments on the second floor.
Property Size1,500 SF
Price / SF$131.67
Days on Market38
Property Features for 1147 East Lincoln Highway
General Information
- Standard status
- Active
- Size
- 1,500 SF
- Property subtype
- Two to Four Units / 3 Flat
Listing agency
Century 21 Circle
(815) 757-7867
Listed by
Jerry Wahlstrom · License #475074884
(815) 757-7867
Source
Compass
Added: Jun 15 Updated: Jul 21 at 11:30AM Checked: Jul 22 at 6:23AM
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 Century 21 Circle
Investment Insights
Based on property information with market context.
This three-unit apartment building offers a total of over 3,000 square feet of living space. The first floor is configured as one large 2-bedroom unit with a good-sized living room and a separate dining or rec room. The building is currently held vacant for easy showings and presents a straightforward option for owner-occupancy while generating additional income from the two second-floor 1-bedroom apartments, each with a private entrance.
The property includes 3–4 parking spots and a 2-car garage. It is located conveniently close to downtown, offering practical access for tenants or an owner-occupant.
Overall, the layout supports either full rental use as a multifamily asset or partial owner-occupancy with separate second-floor entries for the additional units.
The property includes 3–4 parking spots and a 2-car garage. It is located conveniently close to downtown, offering practical access for tenants or an owner-occupant.
Overall, the layout supports either full rental use as a multifamily asset or partial owner-occupancy with separate second-floor entries for the additional units.
Key Highlights
- Spacious 3‑unit apartment building with over 3,000 SF total living area
- First floor features one large 2‑bedroom unit with a good‑sized living room plus separate dining or rec room
- Second floor includes two 1‑bedroom apartments, each with a private entrance
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.0k | $22.68 |
| − Vacancy | −$2.4k | −$1.59 |
| EGI | $31.6k | $21.09 |
| − OpEx | −$14.2k | −$9.49 |
| NOI | $17.4k | $11.60 |
1,500 SF · lease $22.68/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$278.1K
$243.3K – $324.4K
NOI $19,464 @ 7.0% cap · market cap 9.86%
Second Best
Apartment 5plus
$248.6K
$217.5K – $290.0K
NOI $17,401 @ 7.0% cap · market cap 8.81%
Theoretical Best
Office A
$517.9K
$453.2K – $604.2K
NOI $36,252 @ 7.0% cap · market cap 18.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Spacious three-unit apartment building with a large first-floor 2-bedroom unit plus two 1-bedroom apartments on the second floor.
Where is this triplex located?
The property is located at 1147 East Lincoln Highway Dekalb, IL.
What is the asking price?
The asking price for this property is $197,500.
What are key features of this property?
This property features: Spacious 3‑unit apartment building with over 3,000 SF total living area; First floor features one large 2‑bedroom unit with a good‑sized living room plus separate dining or rec room; Second floor includes two 1‑bedroom apartments, each with a private entrance
