Move-in Ready Condo with
For Sale
$285,000
206 Glasgow Lane #B206, Schaumburg, IL 60194
Second-floor 3 bed, 2 bath condo with cathedral ceilings.
Property Size1,350 SF
Price / SF$211.11
Days on Market369
Property Features for 206 Glasgow Lane #B206
General Information
Standard status
Active
Size
1,350 SF
Property subtype
Condominium
Amenities
Central Air
Natural Gas
Building Details
Building Size
1,350 SF
Year Built
1995
Listing Agency:
REMAX Legends
(269) 344-8599
Listed By:
Jeff Salhani
Source:
Kw
Added: Aug 7, 2025
Changed: Aug 8
Last Checked: Jul 16 at 7:13AM
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 REMAX Legends
Investment Insights
Based on property information with market context.
This move-in ready end unit is a second-floor condo featuring 3 bedrooms and 2 bathrooms. The property includes cathedral ceilings and a large balcony. A gas log fireplace adds to the living space, and a washer and dryer are located within the unit. Recent updates include fresh paint and newer carpet. The bedrooms are well-sized, and the master bedroom features a walk-in closet. The balcony is suitable for outdoor dining and recreation. The condo community provides access to two pools and exterior parking for guests. The condo association is well managed. Local stores, a playground, a medical center, parks, and a golf club are located nearby.
Key Highlights
- Move‑in ready end unit condo.
- Cathedral ceilings and large balcony with great view.**
- 3 bedrooms and 2 bathrooms.
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
$15,661
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
5.50%
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%
$313,220
$313.2K
Cap Rate 7%
$223,729
$223.7K
Cap Rate 9%
$174,011
$174.0K
Market Conditions
NOI Build-Up for 1,350 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
$30.6K $22.68/SF
− Vacancy
−$2.1K −$1.59/SF
EGI
$28.5K $21.09/SF
− OpEx
−$12.8K −$9.49/SF
NOI
$15.7K $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%
$313,220
Cap Rate 7%
$223,729
Cap Rate 9%
$174,011
Alternative Uses
Best Use
Apartment 5plus
$223.7K
$195.8K – $261.0K
NOI $15,661 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$466.1K
$407.8K – $543.8K
NOI $32,627 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
685
Businesses Nearby
Explore this area
Business Placement
Demographics for 60194, IL
20,622
Population
8,325
Households
2.5
Avg Household Size
41
Median Age
50%
College-Educated
95%
High-School Grad
3.7 sq mi
ZIP Area
5,574
Density / Sq Mi
$97,876
Median Household Income
$60,835
Median Earnings
$1,897
Median Rent
$310,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Second-floor 3 bed, 2 bath condo with cathedral ceilings.
Where is this apartment building located?
The property is located at 206 Glasgow Lane #B206 Schaumburg, IL.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Move‑in ready end unit condo.; Cathedral ceilings and large balcony with great view.**; 3 bedrooms and 2 bathrooms.
