5-Unit Brick Apartment
For Sale
$649,000
1929 Scoville Avenue, Berwyn, IL 60402
Five apartments include three two-bedroom homes and two one-bedroom homes, each with one bathroom.
Property Size4,464 SF
Price / SF$145.39
Days on Market11
Property Features for 1929 Scoville Avenue
General Information
Standard status
Active
Size
4,464 SF
Total Parking Spaces
3
Property subtype
MULTI_FAMILY
Units
Unit Mix
3 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$13,606
Building Details
Building Size
4,464 SF
Year Built
1927
Buildings
1
Construction
Brick
Listing Agency:
Capital Investment Realty Group Inc
Listed By:
Otis Lazich · License #471009343
(708) 692-7283
Source:
Dawnmckennagroup
Added: Sep 14
Changed: Sep 23
Last Checked: Sep 22 at 9:39PM
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 Capital Investment Realty Group Inc
Investment Insights
Based on property information with market context.
Built in 1927, this 4,464-square-foot brick apartment building contains five residential units. The unit mix includes three two-bedroom, one-bath apartments and two one-bedroom, one-bath apartments. Building systems include an updated radiant heating system and a newer hot water tank.
A three-car garage is positioned at the rear of the property. The sale is offered as-is, with the buyer responsible for removing personal items left at the building. Located at 1929 Scoville Avenue in Berwyn, Illinois.
A three-car garage is positioned at the rear of the property. The sale is offered as-is, with the buyer responsible for removing personal items left at the building. Located at 1929 Scoville Avenue in Berwyn, Illinois.
Key Highlights
- Five‑unit apartment building with three 2‑bed, 1‑bath units and two 1‑bed, 1‑bath units
- 4,464 SF brick building constructed in 1927
- Updated radiant heating system
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
$51,786
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
7.98%
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%
$1,035,720
$1.0M
Cap Rate 7%
$739,800
$739.8K
Cap Rate 9%
$575,400
$575.4K
Market Conditions
NOI Build-Up for 4,464 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
$101.2K $22.68/SF
− Vacancy
−$7.1K −$1.59/SF
EGI
$94.2K $21.09/SF
− OpEx
−$42.4K −$9.49/SF
NOI
$51.8K $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%
$1,035,720
Cap Rate 7%
$739,800
Cap Rate 9%
$575,400
Alternative Uses
Best Use
Apartment 5plus
$739.8K
$647.3K – $863.1K
NOI $51,786 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,885 @ 7.0% cap · market cap 16.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,444
Businesses Nearby
Explore this area
Business Placement
Demographics for 60402, IL
64,706
Population
25,111
Households
2.6
Avg Household Size
37
Median Age
25%
College-Educated
85%
High-School Grad
5.7 sq mi
ZIP Area
11,352
Density / Sq Mi
$73,993
Median Household Income
$42,802
Median Earnings
$1,168
Median Rent
$277,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Five apartments include three two-bedroom homes and two one-bedroom homes, each with one bathroom.
Where is this apartment building located?
The property is located at 1929 Scoville Avenue Berwyn, IL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Five‑unit apartment building with three 2‑bed, 1‑bath units and two 1‑bed, 1‑bath units; 4,464 SF brick building constructed in 1927; Updated radiant heating system
