Arlington Heights Condo with
For Sale
$192,000
2622 N Windsor Drive #101 Arlington, Arlington Heights, IL 60004
Well-maintained 2 bed, 2 bath condo with modern amenities.
Property Size1,100 SF
Days on Market339
Property Features for 2622 N Windsor Drive #101 Arlington
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Condominium
Amenities
Propane
Wall Unit(s)
Baseboard
Double Oven
Dishwasher
Refrigerator
Disposal
Range Hood
Patio
Building Details
Building Size
1,100 SF
Year Built
1975
Listing Agency:
Redfin Corporation
(224) 699-5002
Listed By:
Sara Sogol
(224) 699-5002
Source:
Kw
Added: Sep 25, 2025
Changed: Aug 26
Last Checked: Aug 26 at 3:43PM
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 Redfin Corporation
Investment Insights
Based on property information with market context.
This is a well-maintained condo located in the Arlington Heights area. The property features modern canned lighting throughout. The kitchen includes stainless steel appliances and ample cabinetry. A dining area opens to a large living room with sliding doors. The primary suite includes a walk-in closet and an en-suite bath. The second bedroom is generously sized. Laundry and storage are available in the building. The property includes an assigned parking space and guest parking. Residents have access to a clubhouse with a pool. The property contains 2 bedrooms and 2 bathrooms.
Key Highlights
- Highly desired Arlington Heights location.
- Two bedrooms and two bathrooms.
- Access to a clubhouse with a pool.
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
$8,949
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
4.66%
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%
$178,980
$179.0K
Cap Rate 7%
$127,843
$127.8K
Cap Rate 9%
$99,433
$99.4K
Market Conditions
NOI Build-Up for 1,100 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
$16.9K $15.36/SF
− Vacancy
−$625 −$0.57/SF
EGI
$16.3K $14.79/SF
− OpEx
−$7.3K −$6.66/SF
NOI
$8.9K $8.14/SF
Area
Springfield, IL
Vacancy
3.70%
Lease Rate
$15.36 /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%
$178,980
Cap Rate 7%
$127,843
Cap Rate 9%
$99,433
Alternative Uses
Best Use
Apartment 5plus
$127.8K
$111.9K – $149.2K
NOI $8,949 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$270.1K
$236.3K – $315.1K
NOI $18,905 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
990
Businesses Nearby
Explore this area
Business Placement
Demographics for 60004, IL
52,546
Population
21,181
Households
2.5
Avg Household Size
42
Median Age
59%
College-Educated
96%
High-School Grad
11.1 sq mi
ZIP Area
4,734
Density / Sq Mi
$124,962
Median Household Income
$66,476
Median Earnings
$1,703
Median Rent
$415,100
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 - Well-maintained 2 bed, 2 bath condo with modern amenities.
Where is this apartment building located?
The property is located at 2622 N Windsor Drive #101 Arlington Arlington Heights, IL.
What is the asking price?
The asking price for this property is $192,000.
What are key features of this property?
This property features: Highly desired Arlington Heights location.; Two bedrooms and two bathrooms.; Access to a clubhouse with a pool.
