Residential Income Property with Walkout
For Sale
$449,900
1949 Barnhill Drive, Mundelein, IL 60060
Finished lower-level living space, multiple outdoor decks, and an attached two-car garage support a flexible residential layout.
Property Size2,763 SF
Price / SF$162.83
Days on Market26
Property Features for 1949 Barnhill Drive
General Information
Standard status
Active
Size
2,763 SF
Total Parking Spaces
2
Property subtype
1/2 Duplex
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$9,350
Building Details
Building Size
2,763 SF
Year Built
1992
Buildings
1
Listing Agency:
Baird & Warner
(847) 650-7171
Listed By:
Greg Anderson · License #475111145
(847) 367-6418
Source:
Premier-relocation
Added: Oct 7
Changed: Oct 31
Last Checked: Oct 31 at 3:48AM
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 Baird & Warner
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Investment Insights
Based on property information with market context.
This 2,763-square-foot residential property, built in 1992, features hardwood flooring across the main living areas, a vaulted living room ceiling, and a separate dining room. The renovated kitchen includes granite countertops, custom cabinetry, under-cabinet lighting, pullout storage, and breakfast-bar seating. A gas fireplace anchors the family room, while the finished walkout basement adds a recreation area, bedroom space, and bonus room. Composite decks are located on both levels, and the home also has an attached two-car garage, main-floor laundry, and an updated powder room.
The property is in Mundelein and is served by Fremont Elementary, Intermediate, and Middle schools. Walking and biking paths are accessible from the backyard, and Leo Leathers Park is nearby. The listing notes no HOA. Updates include vinyl siding replaced in 2021, upstairs carpeting replaced in November 2024, and a water heater added in 2026.
The property is in Mundelein and is served by Fremont Elementary, Intermediate, and Middle schools. Walking and biking paths are accessible from the backyard, and Leo Leathers Park is nearby. The listing notes no HOA. Updates include vinyl siding replaced in 2021, upstairs carpeting replaced in November 2024, and a water heater added in 2026.
Key Highlights
- 2,763 square feet; built in 1992
- Finished walkout basement with recreation area, bedroom space, and bonus room
- Composite decks on the upper and lower levels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,101
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$682,020
$682.0K
Cap Rate 7%
$487,157
$487.2K
Cap Rate 9%
$378,900
$378.9K
Market Conditions
NOI Build-Up for 2,763 SF
Gross rent
$66.3K $24.00/SF
− Vacancy
−$4.3K −$1.56/SF
EGI
$62.0K $22.44/SF
− OpEx
−$27.9K −$10.10/SF
NOI
$34.1K $12.34/SF
Area
Lake County, IL
Vacancy
6.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$682,020
Cap Rate 7%
$487,157
Cap Rate 9%
$378,900
Alternative Uses
Best Use
Apartment 5plus
$487.2K
$426.3K – $568.4K
NOI $34,101 @ 7.0% cap · market cap 7.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$953.9K
$834.7K – $1.11M
NOI $66,776 @ 7.0% cap · market cap 14.84%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
88
Businesses Nearby
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Business Placement
Demographics for 60060, IL
37,599
Population
13,827
Households
2.7
Avg Household Size
40
Median Age
43%
College-Educated
90%
High-School Grad
23.2 sq mi
ZIP Area
1,621
Density / Sq Mi
$110,463
Median Household Income
$52,550
Median Earnings
$1,552
Median Rent
$299,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Finished lower-level living space, multiple outdoor decks, and an attached two-car garage support a flexible residential layout.
Where is this residential income property located?
The property is located at 1949 Barnhill Drive Mundelein, IL.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 2,763 square feet; built in 1992; Finished walkout basement with recreation area, bedroom space, and bonus room; Composite decks on the upper and lower levels
