Remodeled 6-Unit Apartment
168 S Lincoln Avenue Aurora, IL 60505
For Sale
$560,000
Remodeled 6-unit building with a new roof and updated units, fully leased except two units for showing.
Property Size3,800 SF
Price / SF$147.37
Days on Market102
Property Features for 168 S Lincoln Avenue
General Information
- Standard status
- Active
- Size
- 3,800 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1900
Listing Agency:
Suburban Life Realty, Ltd
(847) 309-6939
Listed By:
Matthew Lysien · License #471003181
(847) 309-6939
Source:
Xome
Added: Apr 16
Changed: Jul 23
Last Checked: Jul 25 at 3:05AM
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 Suburban Life Realty, Ltd
Investment Insights
Based on property information with market context.
This remodeled 6-unit apartment building offers updated units and a recently installed roof (new roof completed in 10/2025). The exterior and entryway have been freshly painted. The property is fully leased aside from two units currently available for showing purposes, with Units 2 and 6 targeted for the initial visit; all units will be available to show during the due diligence period. Tenants pay all utilities.
The building includes a three-car garage and additional parking in the back for each unit, along with a newly completed off-street asphalt parking lot.
Situated near downtown Aurora destinations, the property is described as within walking distance to stores and restaurants, Paramount Theatre, Hollywood Casino, and nearby parks and trails.
The building includes a three-car garage and additional parking in the back for each unit, along with a newly completed off-street asphalt parking lot.
Situated near downtown Aurora destinations, the property is described as within walking distance to stores and restaurants, Paramount Theatre, Hollywood Casino, and nearby parks and trails.
Key Highlights
- Remodeled 6‑unit multi‑family building with updated units and Year Built listed as 1900
- New roof installed 10/2025
- Property is fully leased, with two units available for showings (Units 2 and 6 shown on initial visit; all units during due diligence)
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.5k | $16.44 |
| − Vacancy | −$3.0k | −$0.79 |
| EGI | $59.5k | $15.65 |
| − OpEx | −$26.8k | −$7.04 |
| NOI | $32.7k | $8.61 |
3,800 SF · lease $16.44/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$467.3K
$408.9K – $545.2K
NOI $32,710 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$951.9K – $1.27M
NOI $76,152 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Remodeled 6-unit building with a new roof and updated units, fully leased except two units for showing.
Where is this apartment building located?
The property is located at 168 S Lincoln Avenue Aurora, IL.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Remodeled 6‑unit multi‑family building with updated units and Year Built listed as 1900; New roof installed 10/2025; Property is fully leased, with two units available for showings (Units 2 and 6 shown on initial visit; all units during due diligence)
