Two-Unit Brick
New
For Sale
$419,900
2623 Gilboa Avenue, Zion, IL 60099
Both residences include four bedrooms, two full bathrooms, hardwood flooring, and a dedicated laundry room.
Property Size2,200 SF
Price / SF$190.86
Days on Market3
Property Features for 2623 Gilboa Avenue
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Two to Four Units
Zoning
SINGL
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,002
Amenities
hardwood floors
eat-in kitchen
dedicated laundry room
Finished,Partial
4
8
2
Corner Lot
Public
50X120
No
Yes,Other
Building Details
Buildings
1
Stories
3
Construction
brick
Listing Agency:
(224) 269-8556
Listed By:
Thomas Quigley
Source:
Michanarealestatesolutions
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 2:19AM
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 Thomas Quigley
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This side-by-side duplex has two brick residences arranged over three levels. Each unit contains four bedrooms and two full bathrooms, along with hardwood floors, an eat-in kitchen, and a dedicated laundry room. The property is on a corner lot and carries a SINGL zoning designation.
Key Highlights
- Two side‑by‑side units in a brick, tri‑level building
- Each unit has 4 bedrooms and 2 full bathrooms
- Hardwood flooring in both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,478
Cap Rate
7.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$589,560
$589.6K
Cap Rate 7%
$421,114
$421.1K
Cap Rate 9%
$327,533
$327.5K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$44.9K $20.40/SF
− Vacancy
−$2.8K −$1.26/SF
EGI
$42.1K $19.14/SF
− OpEx
−$12.6K −$5.74/SF
NOI
$29.5K $13.40/SF
Area
Lake County, IL
Vacancy
6.17%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$589,560
Cap Rate 7%
$421,114
Cap Rate 9%
$327,533
Alternative Uses
Best Use
Multifamily LT 5
$421.1K
$368.5K – $491.3K
NOI $29,478 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$387.9K
$339.4K – $452.5K
NOI $27,152 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$759.6K
$664.6K – $886.2K
NOI $53,169 @ 7.0% cap · market cap 12.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Explore this area
Business Placement
Demographics for 60099, IL
31,579
Population
12,085
Households
2.6
Avg Household Size
36
Median Age
16%
College-Educated
86%
High-School Grad
22.6 sq mi
ZIP Area
1,397
Density / Sq Mi
$65,647
Median Household Income
$36,541
Median Earnings
$1,131
Median Rent
$190,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include four bedrooms, two full bathrooms, hardwood flooring, and a dedicated laundry room.
Where is this duplex located?
The property is located at 2623 Gilboa Avenue Zion, IL.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Two side‑by‑side units in a brick, tri‑level building; Each unit has 4 bedrooms and 2 full bathrooms; Hardwood flooring in both residences
