Renovated All-Brick Apartment
For Sale
$800,000
4342 Warren Avenue, Hillside, IL 60162
Two well-maintained buildings offer renovated apartments, on-site laundry, dedicated parking, and monitored security cameras.
Property Size6,080 SF
Price / SF$131.58
Days on Market157
Property Features for 4342 Warren Avenue
General Information
Standard status
Active
Size
6,080 SF
Property subtype
Multi Family 5+ / Flats
Zoning
MULTI
Occupancy
100%
Net Operating Income
$63,713
Units
Unit Mix
10 x 2BR, 2 x 1BR
Multifamily Units
12
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$18,079
Amenities
on-site laundry
private patio area
dedicated parking
monitored security camera system
Building Details
Year Built
1962
Buildings
2
Stories
3
Construction
all-brick
Listing Agency:
@properties Christie’s International Real Estate
(630) 699-2211
Listed By:
Kris Maranda · License #475128964
(630) 699-2211
Source:
Compass
Added: Mar 29
Changed: Aug 31
Last Checked: Aug 31 at 2:51AM
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 @properties Christie’s International Real Estate
Investment Insights
Based on property information with market context.
This multifamily property includes two all-brick six-flat buildings at 4342 Warren Avenue and 4338 Warren Ave. Together, the buildings contain 12 units: 10 two-bedroom apartments and 2 one-bedroom apartments. The property was built in 1962 and is fully occupied. Ten units have been updated with luxury vinyl plank flooring, refinished hardwood floors, refreshed kitchens, and upgraded fixtures.
Capital improvements include tear-off roofs with 50-year shingles, over 100 new windows, updated electrical panels, high-efficiency boilers, newer water heaters, sump pumps, LED lighting, tuckpointed brick, and new gutters and downspouts. The parking lot was replaced in 2024, and the site also includes a secure dumpster enclosure, private patio area, dedicated parking, on-site laundry with Speed Queen machines, and monitored security cameras. The property is zoned MULTI and is located near public transportation, parks, and local amenities.
Capital improvements include tear-off roofs with 50-year shingles, over 100 new windows, updated electrical panels, high-efficiency boilers, newer water heaters, sump pumps, LED lighting, tuckpointed brick, and new gutters and downspouts. The parking lot was replaced in 2024, and the site also includes a secure dumpster enclosure, private patio area, dedicated parking, on-site laundry with Speed Queen machines, and monitored security cameras. The property is zoned MULTI and is located near public transportation, parks, and local amenities.
Key Highlights
- 12‑unit multifamily property comprising two six‑flat buildings
- Unit mix includes 10 two‑bedroom units and 2 one‑bedroom units
- Fully occupied; 10 of the 12 units have been renovated
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
$70,533
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
8.82%
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%
$1,410,660
$1.4M
Cap Rate 7%
$1,007,614
$1.0M
Cap Rate 9%
$783,700
$783.7K
Market Conditions
NOI Build-Up for 6,080 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
$137.9K $22.68/SF
− Vacancy
−$9.7K −$1.59/SF
EGI
$128.2K $21.09/SF
− OpEx
−$57.7K −$9.49/SF
NOI
$70.5K $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 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%
$1,410,660
Cap Rate 7%
$1,007,614
Cap Rate 9%
$783,700
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$881.7K – $1.18M
NOI $70,533 @ 7.0% cap · market cap 8.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $146,940 @ 7.0% cap · market cap 18.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
594
Businesses Nearby
Explore this area
Business Placement
Demographics for 60162, IL
8,337
Population
3,097
Households
2.7
Avg Household Size
41
Median Age
27%
College-Educated
81%
High-School Grad
3.2 sq mi
ZIP Area
2,605
Density / Sq Mi
$70,772
Median Household Income
$42,614
Median Earnings
$1,265
Median Rent
$233,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two well-maintained buildings offer renovated apartments, on-site laundry, dedicated parking, and monitored security cameras.
Where is this apartment building located?
The property is located at 4342 Warren Avenue Hillside, IL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 12‑unit multifamily property comprising two six‑flat buildings; Unit mix includes 10 two‑bedroom units and 2 one‑bedroom units; Fully occupied; 10 of the 12 units have been renovated
