Spacious Condo with Water
3640 186th Street #101, Lansing, IL 60438
For Sale
$162,300
Charming condo with pond and lake views from private balcony.
Property Size1,200 SF
Days on Market518
Property Features for 3640 186th Street #101
General Information
Standard status
Size
Property subtype
Amenities
Natural Gas
Central Air
Range
Microwave
Dishwasher
Refrigerator
Washer
Dryer
Building Details
Building Size
Year Built
Listing Agency:
RE/MAX Premier
Listed By:
Vernetta Jackson
(312) 475-1717
Source:
Kw
Added: Jun 10, 2025
Changed: Nov 7
Last Checked: Jul 16 at 7:03AM
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 Premier
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Investment Insights
Based on property information with market context.
This charming condo at Lakeview Club offers pond and Lansing Country Club Lake views from its private balcony. The south-facing unit features an open living space enhanced by floor-to-ceiling mirrors. The kitchen is equipped with stainless steel appliances, granite countertops, ample cabinets, and a pantry. The master bedroom includes a luxurious bathroom with a jacuzzi tub and a custom California walk-in closet. A second bedroom with a custom closet is located near the second bath. Additional features include in-unit laundry, double entryway closets, and an underground heated garage with assigned parking and storage. Maintenance-free living includes snow removal, landscaping, and water. This property is suitable for those seeking tranquility. The unit is in move-in condition. This is a 55+ community with restrictions against children and pets. Only conventional financing or cash is accepted.
Key Highlights
- Spacious end unit with wrap‑around balcony and water views.
- Underground heated garage with assigned parking and storage.
- Luxurious master bathroom with jacuzzi tub and custom California walk‑in closet.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,921
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$278,420
$278.4K
Cap Rate 7%
$198,871
$198.9K
Cap Rate 9%
$154,678
$154.7K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$27.2K $22.68/SF
− Vacancy
−$1.9K −$1.59/SF
EGI
$25.3K $21.09/SF
− OpEx
−$11.4K −$9.49/SF
NOI
$13.9K $11.60/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$278,420
Cap Rate 7%
$198,871
Cap Rate 9%
$154,678
Alternative Uses
Best Use
Apartment 5plus
$198.9K
$174.0K – $232.0K
NOI $13,921 @ 7.0% cap · market cap 8.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$460.8K
$403.2K – $537.6K
NOI $32,256 @ 7.0% cap · market cap 19.87%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
762
Businesses Nearby
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Business Placement
Demographics for 60438, IL
29,661
Population
12,230
Households
2.4
Avg Household Size
40
Median Age
28%
College-Educated
93%
High-School Grad
8.1 sq mi
ZIP Area
3,662
Density / Sq Mi
$72,043
Median Household Income
$44,632
Median Earnings
$1,271
Median Rent
$168,600
Median Home Value
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Market
Properties on Market for Apartment buildings in Cook County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Charming condo with pond and lake views from private balcony.
Where is this apartment building located?
The property is located at 3640 186th Street #101 Lansing, IL.
What is the asking price?
The asking price for this property is $162,300.
What are key features of this property?
This property features: Spacious end unit with wrap‑around balcony and water views.; Underground heated garage with assigned parking and storage.; Luxurious master bathroom with jacuzzi tub and custom California walk‑in closet.
