Brick Duplex with Detached
241-243 PEARL Avenue, Loves Park, IL 61111
For Sale
$230,000
Pending
MULTIFAMILY, LOVES PARK, IL
Property Size1,958 SF
Days on Market8
Property Features for 241-243 PEARL Avenue
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Appliances
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Subdivision
Standard status
APN
Size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Cooling system
Building Details
Year built
Floors in Building
Number of units
Roof type
Buildings
Listing Agency:
DICKERSON & NIEMAN
(815) 227-5900
Listed By:
Allison Insko
(815) 978-7651
Added: Nov 4
Changed: Nov 5
Last Checked: Nov 11 at 5:06AM
MLS# 202607003
Copyright © 2026 NorthWest Illinois Alliance of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,958-square-foot brick duplex contains two units, each configured with two bedrooms and one full bathroom. Both residences have private basement areas and their own laundry facilities. A detached two-car garage serves the property, which also includes a yard. Built in 1950, the building has shingle roofing, forced-air natural gas heat and central air conditioning.
The property is located at 241-243 Pearl Avenue in Loves Park, Illinois. Appliances include a dishwasher, disposal, dryer, microwave, refrigerator, stove/cooktop, oven and washer. The source also notes that one unit was previously owner-occupied and the other was rented; no rental amount is included here.
The property is located at 241-243 Pearl Avenue in Loves Park, Illinois. Appliances include a dishwasher, disposal, dryer, microwave, refrigerator, stove/cooktop, oven and washer. The source also notes that one unit was previously owner-occupied and the other was rented; no rental amount is included here.
Key Highlights
- Two‑unit brick duplex with 1,958 square feet of building area
- Each unit has two bedrooms, one full bathroom, a private basement and laundry facilities
- Detached two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,433
Cap Rate
8.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$388,660
$388.7K
Cap Rate 7%
$277,614
$277.6K
Cap Rate 9%
$215,922
$215.9K
Market Conditions
NOI Build-Up for 1,958 SF
Gross rent
$30.1K $15.36/SF
− Vacancy
−$2.3K −$1.18/SF
EGI
$27.8K $14.18/SF
− OpEx
−$8.3K −$4.25/SF
NOI
$19.4K $9.93/SF
Area
Winnebago County, IL
Vacancy
7.69%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$388,660
Cap Rate 7%
$277,614
Cap Rate 9%
$215,922
Alternative Uses
Best Use
Multifamily LT 5
$277.6K
$242.9K – $323.9K
NOI $19,433 @ 7.0% cap · market cap 8.45%
Second Best
Apartment 5plus
$246.0K
$215.3K – $287.0K
NOI $17,220 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$533.7K
$467.0K – $622.7K
NOI $37,359 @ 7.0% cap · market cap 16.24%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
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Demographics for 61111, IL
23,028
Population
10,248
Households
2.2
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
14.2 sq mi
ZIP Area
1,622
Density / Sq Mi
$58,391
Median Household Income
$42,751
Median Earnings
$1,101
Median Rent
$143,700
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Winnebago County, IL
Properties on Market for Duplexes in Winnebago County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences each include private basement space, in-unit laundry and two bedrooms.
Where is this duplex located?
The property is located at 241-243 PEARL Avenue Loves Park, IL.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Two‑unit brick duplex with 1,958 square feet of building area; Each unit has two bedrooms, one full bathroom, a private basement and laundry facilities; Detached two‑car garage
