5-Unit Brick Apartment
For Sale
$949,000
2743 North 72nd Court, Elmwood Park, IL 60707
Five apartments offer consistent two-bedroom layouts, hardwood flooring, and access to shared outdoor space.
Property Size5,000 SF
Price / SF$189.80
Days on Market174
Property Features for 2743 North 72nd Court
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Multi Family 5+ / Flats
Zoning
MULTI
Taxes and HOA fees
Annual Taxes
$16,064
Building Details
Year Built
1955
Stories
2
Listing Agency:
RE/MAX AllStars
(773) 875-7001
Listed By:
Casey · License #475126051
(773) 875-7001
Source:
Compass
Added: Mar 10
Changed: Aug 29
Last Checked: Aug 29 at 2:59PM
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 AllStars
Investment Insights
Based on property information with market context.
This 5,000-square-foot apartment property contains five brick-built units, each arranged with four rooms, two bedrooms, one bathroom, and hardwood floors. The owner’s apartment underwent a complete rehabilitation approximately 4–5 years ago. A roof installed 6 years ago and a 9-year-old boiler are also in place. The building was constructed in 1955 and carries MULTI zoning.
The property is located at 2743 North 72nd Court in Elmwood Park, near schools and transportation. On-site features include a 1 1/2-car garage and a side grassy area that provides additional parking and outdoor space for residents.
The property is located at 2743 North 72nd Court in Elmwood Park, near schools and transportation. On-site features include a 1 1/2-car garage and a side grassy area that provides additional parking and outdoor space for residents.
Key Highlights
- Five‑unit apartment building with 5,000 square feet
- Each unit includes 4 rooms, 2 bedrooms, 1 bathroom, and hardwood floors
- Owner’s apartment completely rehabilitated 4–5 years ago
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
$76,646
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
8.08%
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%
$1,532,920
$1.5M
Cap Rate 7%
$1,094,943
$1.1M
Cap Rate 9%
$851,622
$851.6K
Market Conditions
NOI Build-Up for 5,000 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
$147.0K $29.40/SF
− Vacancy
−$7.6K −$1.53/SF
EGI
$139.4K $27.87/SF
− OpEx
−$62.7K −$12.54/SF
NOI
$76.6K $15.33/SF
Area
Chicago, IL
Vacancy
5.20%
Lease Rate
$29.40 /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%
$1,532,920
Cap Rate 7%
$1,094,943
Cap Rate 9%
$851,622
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$958.1K – $1.28M
NOI $76,646 @ 7.0% cap · market cap 8.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,024 @ 7.0% cap · market cap 17.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,393
Businesses Nearby
Explore this area
Business Placement
Demographics for 60707, IL
43,241
Population
16,590
Households
2.6
Avg Household Size
41
Median Age
31%
College-Educated
86%
High-School Grad
3.6 sq mi
ZIP Area
12,011
Density / Sq Mi
$82,746
Median Household Income
$48,093
Median Earnings
$1,309
Median Rent
$315,300
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 - Five apartments offer consistent two-bedroom layouts, hardwood flooring, and access to shared outdoor space.
Where is this apartment building located?
The property is located at 2743 North 72nd Court Elmwood Park, IL.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Five‑unit apartment building with 5,000 square feet; Each unit includes 4 rooms, 2 bedrooms, 1 bathroom, and hardwood floors; Owner’s apartment completely rehabilitated 4–5 years ago
