Mixed-Use Building with
For Sale
$1,495,000
220 N BENTON Street, Woodstock, IL 60098
Fully leased property combines remodeled residences with street-level commercial suites and centralized heating and air conditioning.
Property Size14,968 SF
Days on Market298
Property Features for 220 N BENTON Street
General Information
Standard status
Active
Size
14,968 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Cap Rate
8%
Public Transit
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$15,734
Amenities
Central Heat and A/C
Secure Indoor Apartment Access
Building Details
Building Size
14,968 SF
Year Built
1900
Buildings
1
Stories
2
Units
11
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Starck Real Estate
(815) 459-5900
Listed By:
Jack Minero · License #475127381
(815) 459-5900
Source:
Allinonerealestateco
Added: Nov 7, 2025
Changed: Aug 30
Last Checked: Aug 31 at 5:11PM
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 Berkshire Hathaway HomeServices Starck Real Estate
Investment Insights
Based on property information with market context.
Built in 1900, this mixed-use property contains 6 apartments and 5 street-level commercial units. The apartments and commercial suites have undergone rehabilitation or remodeling, and the building is served by central heat and A/C. Apartment entry is secured indoors, while tenants pay all utilities.
The property is located at 220 N Benton Street in Woodstock, one block from Woodstock Square and the Metra Station. It sits 300' from Woodstock Square and 500' from the Metra Train Station. The building has remained fully leased with zero vacancy during the past 8 years.
The property is located at 220 N Benton Street in Woodstock, one block from Woodstock Square and the Metra Station. It sits 300' from Woodstock Square and 500' from the Metra Train Station. The building has remained fully leased with zero vacancy during the past 8 years.
Key Highlights
- 6 apartments and 5 street‑level commercial units
- Fully leased with zero vacancy during the past 8 years
- Apartments and commercial suites have been rehabbed or remodeled
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
$131,641
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
8.81%
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%
$2,632,820
$2.6M
Cap Rate 7%
$1,880,586
$1.9M
Cap Rate 9%
$1,462,678
$1.5M
Market Conditions
NOI Build-Up for 14,968 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
$260.4K $17.40/SF
− Vacancy
−$21.1K −$1.41/SF
EGI
$239.3K $15.99/SF
− OpEx
−$107.7K −$7.20/SF
NOI
$131.6K $8.79/SF
Area
McHenry County, IL
Vacancy
8.10%
Lease Rate
$17.40 /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%
$2,632,820
Cap Rate 7%
$1,880,586
Cap Rate 9%
$1,462,678
Alternative Uses
Best Use
Mixed Use
$2.21M
$1.94M – $2.58M
NOI $154,919 @ 7.0% cap · market cap 10.36%
Second Best
Retail
$2.06M
$1.81M – $2.41M
NOI $144,434 @ 7.0% cap · market cap 9.66%
Theoretical Best
Office A
$5.17M
$4.52M – $6.03M
NOI $361,744 @ 7.0% cap · market cap 24.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
956
Businesses Nearby
Explore this area
Business Placement
Demographics for 60098, IL
33,153
Population
13,310
Households
2.5
Avg Household Size
40
Median Age
33%
College-Educated
91%
High-School Grad
104.8 sq mi
ZIP Area
316
Density / Sq Mi
$92,749
Median Household Income
$42,799
Median Earnings
$1,178
Median Rent
$257,900
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?
Mixed-use property - Fully leased property combines remodeled residences with street-level commercial suites and centralized heating and air conditioning.
Where is this mixed-use property located?
The property is located at 220 N BENTON Street Woodstock, IL.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 6 apartments and 5 street‑level commercial units; Fully leased with zero vacancy during the past 8 years; Apartments and commercial suites have been rehabbed or remodeled
