Building Details

Building Size 1,821 SF

Year Built 2004

Year Renovated 2024

Listing Agency: Design Driven Real Estate Show Phone

Listed By: Lisa Mikolajczak

Source: Angelawalkerhomes

Added: Sep 18 Changed: Oct 26 Last Checked: Oct 26 at 3:02PM

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Investment Insights

Based on property information with market context.

This 1,821-square-foot villa offers two bedrooms, two full bathrooms, and an open living area with 13-foot vaulted ceilings and a sunroom. Renovations completed in 2024 included the bathrooms, flooring, roof, and mechanical systems. The kitchen has oak cabinetry, granite counters, a beverage center, and stainless steel appliances. A Heatilator fireplace anchors the living space, while the primary bathroom features heated floors and a custom shower. The property was built in 2004.

Residents have access to a clubhouse, fitness center, and gathering room overlooking a pond and fountain. The property is near I-355, Silver Cross Hospital, shopping, and restaurants. HOA coverage includes water, common insurance, snow removal, exterior maintenance, lawn care, and scavenger service. The asphalt driveway was replaced in 2025; patio extensions require HOA approval.

Key Highlights

• 1,821‑square‑foot villa with 2 bedrooms and 2 full bathrooms
• Renovations, roof, and mechanical systems updated in 2024
• 13‑foot vaulted ceilings and an expansive sunroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,125

Cap Rate

4.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$422,500 $422.5K

Cap Rate 7%

$301,786 $301.8K

Cap Rate 9%

$234,722 $234.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,821 SF

Gross rent

$41.3K $22.68/SF

− Vacancy

−$2.9K −$1.59/SF

EGI

$38.4K $21.09/SF

− OpEx

−$17.3K −$9.49/SF

NOI

$21.1K $11.60/SF

Area

Will 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%

$422,500

Cap Rate 7%

$301,786

Cap Rate 9%

$234,722

Alternative Uses

Best Use

Apartment 5plus

$301.8K

$264.1K – $352.1K (±1% cap)

NOI $21,125 @ 7.0% cap · market cap 4.82%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$413.0K

$361.4K – $481.8K (±1% cap)

NOI $28,910 @ 7.0% cap · market cap 6.59%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

83

Businesses Nearby

Explore this area Business Placement

Demographics for 60491, IL

22,999

Population

7,846

Households

2.9

Avg Household Size

45

Median Age

38%

College-Educated

92%

High-School Grad

25.6 sq mi

ZIP Area

898

Density / Sq Mi

$132,788

Median Household Income

$60,770

Median Earnings

$1,604

Median Rent

$404,800

Median Home Value

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Frequently Asked Questions

What type of property is this?

Residential income property - The renovated villa includes access to a community clubhouse and fitness center.

Where is this residential income property located?

The property is located at 16010 S Messenger Circle Unit - Homer Glen, IL.

What is the asking price?

The asking price for this property is $438,500.

What are key features of this property?

This property features: 1,821‑square‑foot villa with 2 bedrooms and 2 full bathrooms; Renovations, roof, and mechanical systems updated in 2024; 13‑foot vaulted ceilings and an expansive sunroom