Multifamily Property in Naperville,
For Sale
Contact for pricing
102 Olesen Dr, Naperville, IL
Six-unit multifamily property featuring updated units and on-site laundry.
Property Size8,000 SF
Lot Size0.64 Acres
Price / SF$137.50
Days on Market484
Property Features for 102 Olesen Dr
General Information
Standard status
Active
Size
8,000 SF
Lot size
0.64 Acres
Property subtype
OFFICE
Listing Agency:
Jameson Commercial
(312) 216-8000
Listed By:
Art Collazo · License #475131028
(773) 551-5165
Source:
Moodyscre
Added: May 9, 2025
Changed: Aug 8
Last Checked: Sep 1 at 8:51PM
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 Jameson Commercial
Investment Insights
Based on property information with market context.
The property at 106 Olesen Drive in Naperville, Illinois, is a 6-unit multifamily building. It comprises five 2-bedroom, 1-bathroom units and one 1-bedroom, 1-bathroom unit. The units feature wood cabinets with laminate tops and stainless steel appliances. Each unit is equipped with A/C units and baseboard hot water heating. Common amenities include a coin laundry room. The property provides 11 parking spots. The building has a property size of 8000 square feet.
Key Highlights
- Multifamily property with six units in Naperville, Illinois.
- Consists of five 2 bed/1 bath units.
- Includes one 1 bed/1 bath unit.
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
$77,409
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
7.04%
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%
$1,548,180
$1.5M
Cap Rate 7%
$1,105,843
$1.1M
Cap Rate 9%
$860,100
$860.1K
Market Conditions
NOI Build-Up for 8,000 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
$147.8K $18.48/SF
− Vacancy
−$7.1K −$0.89/SF
EGI
$140.7K $17.59/SF
− OpEx
−$63.3K −$7.92/SF
NOI
$77.4K $9.68/SF
Area
Naperville, IL
Vacancy
4.80%
Lease Rate
$18.48 /SF/Yr
Expense Ratio
45.00%
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%
$1,548,180
Cap Rate 7%
$1,105,843
Cap Rate 9%
$860,100
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$967.6K – $1.29M
NOI $77,409 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,405 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit multifamily property featuring updated units and on-site laundry.
Where is this apartment building located?
The property is located at 102 Olesen Dr Naperville, IL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Multifamily property with six units in Naperville, Illinois.; Consists of five 2 bed/1 bath units.; Includes one 1 bed/1 bath unit.
