Duplex with Garden-Level
118 N President Street, Wheaton, IL 60187
For Sale
New
$765,000
Two separately accessed residences each have a kitchen and laundry, with a layout that can also function as one home.
Property Size1,900 SF
Days on Market4
Property Features for 118 N President Street
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Public Transit
Utilities to Site
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Keller Williams Premiere Properties
Listed By:
Maureen Rooney · License IL #475142114
(630) 400-2980
Source:
Kalelrealty
Added: Nov 11
Changed: Nov 12
Last Checked: Nov 13 at 6:39PM
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 Keller Williams Premiere Properties
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Investment Insights
Based on property information with market context.
This two-story Wheaton duplex contains a five-bedroom, four-bath main residence and a garden-level apartment. Both units have their own entry, kitchen, and laundry. The main residence includes a living room, dining area, open kitchen, first-floor bedroom or office, and three additional upstairs bedrooms. Its primary suite has a private bath and walk-in closet. The garden-level unit has one bedroom, one bath, a living area, and windows in every room; it was built out in 2021. A finished basement and 2.5-car garage add to the property’s configuration. The residence can also be used as a single-family home.
The property is at 118 N President Street in Wheaton, near Wheaton College, College Avenue shops, restaurants, and the Metra station. Lowell Elementary, the Illinois Prairie Path, and downtown Wheaton are also nearby. Work completed in 2026 included updates to the kitchen, baths, plumbing, electrical wiring, insulation, roof, windows, siding, water service, driveway, and apron.
The property is at 118 N President Street in Wheaton, near Wheaton College, College Avenue shops, restaurants, and the Metra station. Lowell Elementary, the Illinois Prairie Path, and downtown Wheaton are also nearby. Work completed in 2026 included updates to the kitchen, baths, plumbing, electrical wiring, insulation, roof, windows, siding, water service, driveway, and apron.
Key Highlights
- Two residences, each with a separate entrance, kitchen, and laundry
- Main residence has 5 bedrooms and 4 baths across two stories
- Garden‑level apartment is a 1 bed/1bath unit built out in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,654
Cap Rate
3.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,080
$493.1K
Cap Rate 7%
$352,200
$352.2K
Cap Rate 9%
$273,933
$273.9K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$38.1K $20.04/SF
− Vacancy
−$2.9K −$1.50/SF
EGI
$35.2K $18.54/SF
− OpEx
−$10.6K −$5.56/SF
NOI
$24.7K $12.98/SF
Area
DuPage 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 Rate 5%
$493,080
Cap Rate 7%
$352,200
Cap Rate 9%
$273,933
Alternative Uses
Best Use
Multifamily LT 5
$352.2K
$308.2K – $410.9K
NOI $24,654 @ 7.0% cap · market cap 3.22%
Second Best
Apartment 5plus
$314.9K
$275.5K – $367.4K
NOI $22,042 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$518.1K
$453.3K – $604.4K
NOI $36,266 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
910
Businesses Nearby
Explore this area
Business Placement
Demographics for 60187, IL
30,059
Population
10,619
Households
2.8
Avg Household Size
37
Median Age
62%
College-Educated
95%
High-School Grad
6.6 sq mi
ZIP Area
4,554
Density / Sq Mi
$119,048
Median Household Income
$49,625
Median Earnings
$1,744
Median Rent
$432,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately accessed residences each have a kitchen and laundry, with a layout that can also function as one home.
Where is this duplex located?
The property is located at 118 N President Street Wheaton, IL.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: Two residences, each with a separate entrance, kitchen, and laundry; Main residence has 5 bedrooms and 4 baths across two stories; Garden‑level apartment is a 1 bed/1bath unit built out in 2021
