Renovated Residential Income
For Sale
$289,900
Pending
120 S Spruce Avenue Unit 407, Wood Dale, IL 60191
Updated condominium with private storage, two parking spaces, and access to extensive community amenities.
Property Size1,800 SF
Days on Market70
Property Features for 120 S Spruce Avenue Unit 407
General Information
Standard status
Pending
Size
1,800 SF
Total Parking Spaces
2
Property subtype
Condo-Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,326
Amenities
in-unit laundry
fireplace
wet bar
private storage
outdoor swimming pool
sauna
fitness center
party room
Building Details
Building Size
1,800 SF
Year Built
1972
Listing Agency:
Berg Properties
Listed By:
Colleen Berg · License #471019976
(708) 406-9637
Source:
Dawnmckennagroup
Added: Aug 3
Changed: Oct 4
Last Checked: Oct 10 at 1:30AM
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 Berg Properties
Investment Insights
Based on property information with market context.
This 1,800-square-foot condominium offers a two-bedroom, two-bath layout in the Park Royal community. Improvements include a new kitchen with stainless steel appliances, refreshed bathrooms, a wet bar, in-unit laundry, and a fireplace. The residence also includes one outdoor parking space identified as #407, one heated indoor garage space, and a large private storage area.
Community amenities include an outdoor swimming pool, sauna, fitness center, and party room with a full kitchen. The property is located in Wood Dale, minutes from O'Hare International Airport, Metra stations, major expressways, shopping, dining, and nearby forest preserves. The building was constructed in 1972.
Community amenities include an outdoor swimming pool, sauna, fitness center, and party room with a full kitchen. The property is located in Wood Dale, minutes from O'Hare International Airport, Metra stations, major expressways, shopping, dining, and nearby forest preserves. The building was constructed in 1972.
Key Highlights
- 1,800 SF condominium with 2 bedrooms and 2 bathrooms
- Renovated kitchen with stainless steel appliances and updated bathrooms
- In‑unit laundry, wet bar, and fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,881
Cap Rate
7.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$417,620
$417.6K
Cap Rate 7%
$298,300
$298.3K
Cap Rate 9%
$232,011
$232.0K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$40.8K $22.68/SF
− Vacancy
−$2.9K −$1.59/SF
EGI
$38.0K $21.09/SF
− OpEx
−$17.1K −$9.49/SF
NOI
$20.9K $11.60/SF
Area
DuPage 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%
$417,620
Cap Rate 7%
$298,300
Cap Rate 9%
$232,011
Alternative Uses
Best Use
Apartment 5plus
$298.3K
$261.0K – $348.0K
NOI $20,881 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$621.5K
$543.8K – $725.0K
NOI $43,502 @ 7.0% cap · market cap 15.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
Explore this area
Business Placement
Demographics for 60191, IL
14,456
Population
5,516
Households
2.6
Avg Household Size
44
Median Age
25%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
2,780
Density / Sq Mi
$90,299
Median Household Income
$44,817
Median Earnings
$1,649
Median Rent
$307,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium with private storage, two parking spaces, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 120 S Spruce Avenue Unit 407 Wood Dale, IL.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 1,800 SF condominium with 2 bedrooms and 2 bathrooms; Renovated kitchen with stainless steel appliances and updated bathrooms; In‑unit laundry, wet bar, and fireplace
