6-Unit Apartment Building with
For Sale
$1,025,000
1740 Felten Road, Aurora, IL 60505
Two-bedroom units include eat-in kitchens, distinct living and dining areas, and primary bedrooms with private half baths.
Property Size7,905 SF
Days on Market94
Property Features for 1740 Felten Road
General Information
Standard status
Active
Size
7,905 SF
Property subtype
Commercial
Zoning
MULTI
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$12,365
Amenities
garage parking
private balcony
coin operated laundry
Building Details
Building Size
7,905 SF
Year Built
1971
Stories
3
Units
6
Listing Agency:
Lomitas Real Estate
(630) 851-9595
Listed By:
Ruben Salgado · License #475191481
(630) 851-9595
Source:
Midwestrealestate
Added: May 21
Changed: Aug 21
Last Checked: Aug 21 at 5:11AM
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 Lomitas Real Estate
Investment Insights
Based on property information with market context.
Built in 1971, this six-unit apartment property offers a consistent two-bedroom layout across the units. Each apartment includes an eat-in kitchen, separate dining and living areas, and a primary bedroom with two large closets and its own half bath. Upper-level apartments add private balconies.
The property also provides garage parking and a coin-operated laundry area. Its location offers access to I-88 and other major roads, with the train station, downtown, outlet mall, restaurants, entertainment, and hotels located minutes away. The property is zoned MULTI and is being sold as-is.
The property also provides garage parking and a coin-operated laundry area. Its location offers access to I-88 and other major roads, with the train station, downtown, outlet mall, restaurants, entertainment, and hotels located minutes away. The property is zoned MULTI and is being sold as-is.
Key Highlights
- Six‑unit apartment building with garage parking
- Each unit has 2 bedrooms, an eat‑in kitchen, and separate dining and living areas
- Primary bedrooms include 2 large closets and a half bath
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
$68,046
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
6.64%
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%
$1,360,920
$1.4M
Cap Rate 7%
$972,086
$972.1K
Cap Rate 9%
$756,067
$756.1K
Market Conditions
NOI Build-Up for 7,905 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
$130.0K $16.44/SF
− Vacancy
−$6.2K −$0.79/SF
EGI
$123.7K $15.65/SF
− OpEx
−$55.7K −$7.04/SF
NOI
$68.0K $8.61/SF
Area
Aurora, IL
Vacancy
4.80%
Lease Rate
$16.44 /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%
$1,360,920
Cap Rate 7%
$972,086
Cap Rate 9%
$756,067
Alternative Uses
Best Use
Apartment 5plus
$972.1K
$850.6K – $1.13M
NOI $68,046 @ 7.0% cap · market cap 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,416 @ 7.0% cap · market cap 15.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Explore this area
Business Placement
Demographics for 60505, IL
57,906
Population
18,681
Households
3.1
Avg Household Size
32
Median Age
13%
College-Educated
64%
High-School Grad
10.1 sq mi
ZIP Area
5,733
Density / Sq Mi
$70,306
Median Household Income
$33,912
Median Earnings
$1,230
Median Rent
$192,500
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 - Two-bedroom units include eat-in kitchens, distinct living and dining areas, and primary bedrooms with private half baths.
Where is this apartment building located?
The property is located at 1740 Felten Road Aurora, IL.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: Six‑unit apartment building with garage parking; Each unit has 2 bedrooms, an eat‑in kitchen, and separate dining and living areas; Primary bedrooms include 2 large closets and a half bath
