Fully Leased Historic Mixed-Use
For Sale
$1,075,000
134 W State Street Sycamore, Sycamore, IL 60178
Mixed-use historic building with four residential units and two ground-floor commercial spaces, fully leased for ongoing occupancy.
Property Size8,494 SF
Price / SF$126.56
Days on Market56
Property Features for 134 W State Street Sycamore
General Information
Standard status
Active
Size
8,494 SF
Property subtype
Mixed Use
Zoning
COMMR
Occupancy
100%
Lease Type
Gross
Net Operating Income
$81,434
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,969
Amenities
Carpet,Wood
City Street,Frontage Road,Public Road,State Road
44x150
Brick/Mortar
8494
Building Details
Building Size
8,494 SF
Year Built
1889
Stories
2
Tenancy
Multi
Listing Agency:
(815) 469-7449
Listed By:
Ashley Evans
(815) 469-7449
Source:
Realpeoplerealty
Added: Jun 26
Changed: Aug 18
Last Checked: Aug 20 at 4:22AM
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 Ashley Evans
Investment Insights
Based on property information with market context.
This historic mixed-use building offers four residential units and two commercial spaces with the commercial component on the main level. The brick exterior is described as classic and low-maintenance, and the commercial area includes a newly renovated dental office with modern updates. The property is being sold as-is and is presented as fully leased.
Located in downtown Sycamore, the building is directly across from the historic DeKalb County Courthouse. The main-level retail/commercial spaces benefit from downtown foot traffic, and private parking is available in the rear of the building for residential tenants. Nearby shops, restaurants, and local amenities are referenced as part of the surrounding downtown environment.
For buyers or operators seeking a mixed-use asset, the combination of four upstairs residential units and two street-level commercial spaces can support diversified on-site tenancy. The rear parking arrangement is specifically noted for residential use, which can improve daily convenience for tenants. With a renovated dental tenant and an additional commercial tenant on the main level, the property provides an income mix across residential and commercial components while maintaining the building’s historic character.
Located in downtown Sycamore, the building is directly across from the historic DeKalb County Courthouse. The main-level retail/commercial spaces benefit from downtown foot traffic, and private parking is available in the rear of the building for residential tenants. Nearby shops, restaurants, and local amenities are referenced as part of the surrounding downtown environment.
For buyers or operators seeking a mixed-use asset, the combination of four upstairs residential units and two street-level commercial spaces can support diversified on-site tenancy. The rear parking arrangement is specifically noted for residential use, which can improve daily convenience for tenants. With a renovated dental tenant and an additional commercial tenant on the main level, the property provides an income mix across residential and commercial components while maintaining the building’s historic character.
Key Highlights
- Historic mixed‑use building built in 1889 with four residential units and two ground‑floor commercial spaces
- Fully leased for ongoing occupancy, combining residential and commercial income streams
- Newly renovated dental office on the commercial level
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
$98,537
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
9.17%
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%
$1,970,740
$2.0M
Cap Rate 7%
$1,407,671
$1.4M
Cap Rate 9%
$1,094,856
$1.1M
Market Conditions
NOI Build-Up for 8,494 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
$192.6K $22.68/SF
− Vacancy
−$13.5K −$1.59/SF
EGI
$179.2K $21.09/SF
− OpEx
−$80.6K −$9.49/SF
NOI
$98.5K $11.60/SF
Area
DeKalb 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%
$1,970,740
Cap Rate 7%
$1,407,671
Cap Rate 9%
$1,094,856
Alternative Uses
Best Use
Mixed Use
$2.05M
$1.79M – $2.39M
NOI $143,336 @ 7.0% cap · market cap 13.33%
Second Best
Office B
$1.67M
$1.46M – $1.95M
NOI $117,118 @ 7.0% cap · market cap 10.89%
Theoretical Best
Office A
$2.93M
$2.57M – $3.42M
NOI $205,281 @ 7.0% cap · market cap 19.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
840
Businesses Nearby
Explore this area
Business Placement
Demographics for 60178, IL
22,386
Population
9,151
Households
2.4
Avg Household Size
39
Median Age
44%
College-Educated
96%
High-School Grad
67.2 sq mi
ZIP Area
333
Density / Sq Mi
$88,314
Median Household Income
$47,157
Median Earnings
$1,084
Median Rent
$262,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use historic building with four residential units and two ground-floor commercial spaces, fully leased for ongoing occupancy.
Where is this mixed-use property located?
The property is located at 134 W State Street Sycamore Sycamore, IL.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Historic mixed‑use building built in 1889 with four residential units and two ground‑floor commercial spaces; Fully leased for ongoing occupancy, combining residential and commercial income streams; Newly renovated dental office on the commercial level
