Five-Unit Brick Apartment
For Sale
$749,000
1931 Scoville Avenue, Berwyn, IL 60402
All-brick multifamily property with a three-car garage and individually forced-heated units.
Property Size5,521 SF
Price / SF$135.66
Days on Market11
Property Features for 1931 Scoville Avenue
General Information
Standard status
Active
Size
5,521 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
$14,270
Building Details
Building Size
5,521 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 11:17PM
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 5,521-square-foot apartment building contains five residential units: three two-bedroom, one-bath apartments and two one-bedroom, one-bath apartments. The all-brick construction is complemented by individual forced-heating units serving each residence.
The property is located at 1931 Scoville Avenue in Berwyn, Illinois, with a three-car brick garage positioned at the alley. The sale is offered AS IS, including any personal items remaining in the basement and garages. The building has been held by the same owner for decades.
The property is located at 1931 Scoville Avenue in Berwyn, Illinois, with a three-car brick garage positioned at the alley. The sale is offered AS IS, including any personal items remaining in the basement and garages. The building has been held by the same owner for decades.
Key Highlights
- Five units: three 2‑bed, 1‑bath apartments and two 1‑bed, 1‑bath apartments
- 5,521‑square‑foot apartment building
- All‑brick construction completed in 1927
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
$64,048
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
8.55%
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%
$1,280,960
$1.3M
Cap Rate 7%
$914,971
$915.0K
Cap Rate 9%
$711,644
$711.6K
Market Conditions
NOI Build-Up for 5,521 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
$125.2K $22.68/SF
− Vacancy
−$8.8K −$1.59/SF
EGI
$116.5K $21.09/SF
− OpEx
−$52.4K −$9.49/SF
NOI
$64.0K $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%
$1,280,960
Cap Rate 7%
$914,971
Cap Rate 9%
$711,644
Alternative Uses
Best Use
Apartment 5plus
$915.0K
$800.6K – $1.07M
NOI $64,048 @ 7.0% cap · market cap 8.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.22M
NOI $133,430 @ 7.0% cap · market cap 17.81%
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 - All-brick multifamily property with a three-car garage and individually forced-heated units.
Where is this apartment building located?
The property is located at 1931 Scoville Avenue Berwyn, IL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Five units: three 2‑bed, 1‑bath apartments and two 1‑bed, 1‑bath apartments; 5,521‑square‑foot apartment building; All‑brick construction completed in 1927
