First-Floor End-Unit Residential Income
For Sale
$469,000
Pending
210 Shadow Creek Circle Unit 210, Vernon Hills, IL 60061
One-level residence with two bedrooms, two full baths, and an attached two-car garage.
Property Size1,860 SF
Days on Market8
Property Features for 210 Shadow Creek Circle Unit 210
General Information
Standard status
Pending
Size
1,860 SF
Total Parking Spaces
2
Property subtype
Condo,Townhouse-Ranch
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Parking per Unit
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$9,601
Amenities
fireplace
patio
Building Details
Building Size
1,860 SF
Year Built
2004
Construction
ranch
Listing Agency:
RE/MAX Suburban
Listed By:
Leslie McDonnell · License #475124525
(847) 367-5861
Source:
Realtorjamie
Added: Sep 17
Changed: Sep 23
Last Checked: Sep 22 at 9:03PM
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 RE/MAX Suburban
Investment Insights
Based on property information with market context.
This first-floor end-unit residential income property offers one-level living in the Gregg's Landing Shadow Creek subdivision. The 2004 residence includes two bedrooms, two full baths, an open living and dining arrangement, an eat-in kitchen, a family room with fireplace, a primary suite with walk-in closet and private bath, and a laundry/utility room. Kitchen features include 42-inch cabinetry, granite countertops, stainless-steel appliances, a center island with breakfast bar, and a pantry. A slider connects the interior to a private patio with views toward wooded areas and White Deer Run golf course. The attached two-car garage provides parking and storage. Recent updates include a new asphalt driveway, a 2025 roof, and a 2018 furnace and water heater. The property is near shopping, dining, parks, trails, golf, and everyday amenities.
Key Highlights
- First‑floor end‑unit ranch in Gregg's Landing Shadow Creek subdivision
- 2 bedrooms and 2 full baths
- 2‑car attached garage
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
$22,956
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
4.89%
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%
$459,120
$459.1K
Cap Rate 7%
$327,943
$327.9K
Cap Rate 9%
$255,067
$255.1K
Market Conditions
NOI Build-Up for 1,860 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
$44.6K $24.00/SF
− Vacancy
−$2.9K −$1.56/SF
EGI
$41.7K $22.44/SF
− OpEx
−$18.8K −$10.10/SF
NOI
$23.0K $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 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%
$459,120
Cap Rate 7%
$327,943
Cap Rate 9%
$255,067
Alternative Uses
Best Use
Apartment 5plus
$327.9K
$287.0K – $382.6K
NOI $22,956 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$642.2K
$561.9K – $749.2K
NOI $44,952 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Explore this area
Business Placement
Demographics for 60061, IL
27,581
Population
11,649
Households
2.4
Avg Household Size
41
Median Age
66%
College-Educated
96%
High-School Grad
8.4 sq mi
ZIP Area
3,283
Density / Sq Mi
$121,588
Median Household Income
$60,647
Median Earnings
$1,862
Median Rent
$390,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-level residence with two bedrooms, two full baths, and an attached two-car garage.
Where is this residential income property located?
The property is located at 210 Shadow Creek Circle Unit 210 Vernon Hills, IL.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: First‑floor end‑unit ranch in Gregg's Landing Shadow Creek subdivision; 2 bedrooms and 2 full baths; 2‑car attached garage
