Park Ridge Top-Floor
For Sale
$179,800
1333 W Touhy Avenue #303 Park, Park Ridge, IL 60068
Bright, 1-bed, 1-bath condo in prime Park Ridge location.
Property Size850 SF
Days on Market262
Property Features for 1333 W Touhy Avenue #303 Park
General Information
Standard status
Active
Size
850 SF
Property subtype
Condominium
Amenities
Steam
Wall Unit(s)
Baseboard
Building Details
Building Size
850 SF
Year Built
1968
Listing Agency:
Jameson Sotheby's Intl Realty
(847) 769-6191
Listed By:
Sarah Kazarian
(847) 769-6191
Source:
Kw
Added: Dec 1, 2025
Changed: Aug 17
Last Checked: Aug 18 at 10:29PM
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 Sotheby's Intl Realty
Investment Insights
Based on property information with market context.
This bright, freshly painted 1-bed/1-bath condo offers 850 sq ft of living space. It is located in Park Ridge, providing access to the Metra, Pace buses, restaurants, entertainment, and fitness centers. This top-floor end unit includes one parking spot in the heated garage and one outdoor space. The building features an elevator, coin laundry, and assigned storage. The unit has a spacious, open kitchen with abundant cabinets and counter space.
Key Highlights
- Prime Park Ridge location with easy access to Metra, Pace buses, restaurants, entertainment, and fitness centers.
- Top‑floor end unit with gorgeous sunset views.
- Includes two parking spots: one heated garage space and one outdoor space.
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
$9,861
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
5.48%
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%
$197,220
$197.2K
Cap Rate 7%
$140,871
$140.9K
Cap Rate 9%
$109,567
$109.6K
Market Conditions
NOI Build-Up for 850 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
$19.3K $22.68/SF
− Vacancy
−$1.3K −$1.59/SF
EGI
$17.9K $21.09/SF
− OpEx
−$8.1K −$9.49/SF
NOI
$9.9K $11.60/SF
Area
Cook 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 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%
$197,220
Cap Rate 7%
$140,871
Cap Rate 9%
$109,567
Alternative Uses
Best Use
Apartment 5plus
$140.9K
$123.3K – $164.4K
NOI $9,861 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$293.5K
$256.8K – $342.4K
NOI $20,543 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,013
Businesses Nearby
Explore this area
Business Placement
Demographics for 60068, IL
39,672
Population
15,999
Households
2.5
Avg Household Size
44
Median Age
65%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
5,435
Density / Sq Mi
$138,201
Median Household Income
$78,495
Median Earnings
$1,511
Median Rent
$539,700
Median Home Value
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 - Bright, 1-bed, 1-bath condo in prime Park Ridge location.
Where is this apartment building located?
The property is located at 1333 W Touhy Avenue #303 Park Park Ridge, IL.
What is the asking price?
The asking price for this property is $179,800.
What are key features of this property?
This property features: Prime Park Ridge location with easy access to Metra, Pace buses, restaurants, entertainment, and fitness centers.; Top‑floor end unit with gorgeous sunset views.; Includes **two parking spots**: one heated garage space and one outdoor space.
