Sandpebble Walk Condo with
For Sale
$215,000
1550 Sandpebble Drive #307, Wheeling, IL 60090
Spacious 2-bedroom condo with balcony and community amenities.
Property Size1,280 SF
Price / SF$167.97
Days on Market360
Property Features for 1550 Sandpebble Drive #307
General Information
Standard status
Active
Size
1,280 SF
Property subtype
Condominium
Amenities
Forced Air
Central Air
Natural Gas
Range
Microwave
Dishwasher
Refrigerator
Disposal
Deck
Building Details
Building Size
1,280 SF
Year Built
1973
Listing Agency:
Redfin Corporation
(312) 836-4263
Listed By:
Stacey Dombar
(312) 836-4263
Source:
Kw
Added: Aug 26, 2025
Changed: Aug 8
Last Checked: Aug 18 at 10:39PM
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 Redfin Corporation
Investment Insights
Based on property information with market context.
Located in the Sandpebble Walk community, this third-floor unit features 2 bedrooms and 2 bathrooms. The property includes a large living and dining area with a private balcony. The eat-in kitchen is equipped with stainless steel appliances and a pantry. The bedrooms are generously sized and offer ample closet space. The building is equipped with an elevator and provides a laundry room, bike room, and additional storage. Community amenities include tennis courts, an outdoor pool, a clubhouse, a playground, a party room, and bike/walking trails. The location provides convenient access to grocery stores, shopping, dining, I-294, and I-290. The property size is 1280 square feet.
Key Highlights
- Enjoy community amenities including tennis courts, outdoor pool, clubhouse, playground, party room, and scenic bike/walking trails.
- Convenient location: close to grocery stores, shopping, dining, and easy access to I‑294 and I‑290.
- Spacious 2‑bedroom, 2‑bathroom unit with a private balcony.
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
$14,849
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
6.91%
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%
$296,980
$297.0K
Cap Rate 7%
$212,129
$212.1K
Cap Rate 9%
$164,989
$165.0K
Market Conditions
NOI Build-Up for 1,280 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
$29.0K $22.68/SF
− Vacancy
−$2.0K −$1.59/SF
EGI
$27.0K $21.09/SF
− OpEx
−$12.1K −$9.49/SF
NOI
$14.8K $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%
$296,980
Cap Rate 7%
$212,129
Cap Rate 9%
$164,989
Alternative Uses
Best Use
Apartment 5plus
$212.1K
$185.6K – $247.5K
NOI $14,849 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$441.9K
$386.7K – $515.6K
NOI $30,935 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
Explore this area
Business Placement
Demographics for 60090, IL
39,017
Population
15,960
Households
2.4
Avg Household Size
39
Median Age
40%
College-Educated
88%
High-School Grad
9.0 sq mi
ZIP Area
4,335
Density / Sq Mi
$83,449
Median Household Income
$45,436
Median Earnings
$1,578
Median Rent
$243,500
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Apartment building - Spacious 2-bedroom condo with balcony and community amenities.
Where is this apartment building located?
The property is located at 1550 Sandpebble Drive #307 Wheeling, IL.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Enjoy community amenities including tennis courts, outdoor pool, clubhouse, playground, party room, and scenic bike/walking trails.; Convenient location: close to grocery stores, shopping, dining, and easy access to I‑294 and I‑290.; Spacious 2‑bedroom, 2‑bathroom unit with a private balcony.
