5-Unit Apartment
For Sale
$699,000
1603 Indiana Street, St Charles, IL 60174
Separately metered apartments include shared storage and coin-operated laundry facilities.
Property Size3,502 SF
Days on Market11
Property Features for 1603 Indiana Street
General Information
Standard status
Active
Size
3,502 SF
Property subtype
Commercial
Units
Unit Mix
4 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$11,415
Amenities
hardwood floors
basement storage
coin-operated laundry
Building Details
Building Size
3,502 SF
Year Built
1963
Buildings
1
Stories
2
Units
5
Listing Agency:
RE/MAX All Pro - St Charles
(630) 513-6100
Listed By:
Stephanie Gosselin
(630) 513-6100
Source:
Birdrealtysells
Added: Aug 1
Changed: Aug 10
Last Checked: Aug 10 at 4:09AM
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 RE/MAX All Pro - St Charles
Investment Insights
Based on property information with market context.
This five-unit apartment property was built in 1963 and includes four matching apartments, each with two bedrooms, one bathroom, hardwood flooring, and substantial closet space. A legal, conforming basement apartment adds a living and dining area, bedroom, bathroom, and kitchen. Basement storage is provided for each unit, along with coin-operated laundry equipment.
The apartments are separately metered, and residents pay their own utilities except for the legal, conforming basement unit. Property improvements include a roof installed in 2019, two new furnaces added in 2024, and two water heaters. The building is located on Indiana Street in St. Charles, Illinois.
The apartments are separately metered, and residents pay their own utilities except for the legal, conforming basement unit. Property improvements include a roof installed in 2019, two new furnaces added in 2024, and two water heaters. The building is located on Indiana Street in St. Charles, Illinois.
Key Highlights
- Five‑unit apartment building constructed in 1963
- Four 2‑bedroom, 1‑bath apartments with hardwood floors and generous closet space
- Legal, conforming basement apartment with living/dining area, bedroom, bath, and kitchen
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
$40,626
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
5.81%
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%
$812,520
$812.5K
Cap Rate 7%
$580,371
$580.4K
Cap Rate 9%
$451,400
$451.4K
Market Conditions
NOI Build-Up for 3,502 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
$79.4K $22.68/SF
− Vacancy
−$5.6K −$1.59/SF
EGI
$73.9K $21.09/SF
− OpEx
−$33.2K −$9.49/SF
NOI
$40.6K $11.60/SF
Area
Kane 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%
$812,520
Cap Rate 7%
$580,371
Cap Rate 9%
$451,400
Alternative Uses
Best Use
Apartment 5plus
$580.4K
$507.8K – $677.1K
NOI $40,626 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,636 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,439
Businesses Nearby
Explore this area
Business Placement
Demographics for 60174, IL
30,958
Population
13,115
Households
2.4
Avg Household Size
42
Median Age
49%
College-Educated
95%
High-School Grad
13.7 sq mi
ZIP Area
2,260
Density / Sq Mi
$102,408
Median Household Income
$51,235
Median Earnings
$1,738
Median Rent
$348,100
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 - Separately metered apartments include shared storage and coin-operated laundry facilities.
Where is this apartment building located?
The property is located at 1603 Indiana Street St Charles, IL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Five‑unit apartment building constructed in 1963; Four 2‑bedroom, 1‑bath apartments with hardwood floors and generous closet space; Legal, conforming basement apartment with living/dining area, bedroom, bath, and kitchen
