Residential Income Property with
For Sale
$325,000
494 Buckingham Drive, Grayslake, IL 60030
A flexible interior plan includes a loft, a main-level flex room, and a separate family room.
Property Size1,608 SF
Price / SF$202.11
Days on Market69
Property Features for 494 Buckingham Drive
General Information
Standard status
Active
Size
1,608 SF
Property subtype
1/2 Duplex
Taxes and HOA fees
Annual Taxes
$9,406
Building Details
Building Size
1,608 SF
Year Built
1991
Listing Agency:
HomeSmart Connect LLC
(847) 791-5491
Listed By:
Jay Reid · License #471006747
(847) 495-5000
Source:
Payesregroup
Added: Aug 24
Changed: Oct 30
Last Checked: Oct 30 at 2:37PM
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 HomeSmart Connect LLC
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Investment Insights
Based on property information with market context.
This 1,608-square-foot residential property, built in 1991, has a loft and a main-level flex room with a bay window. The kitchen includes maple cabinets, granite counters, and an island, while the family room features a gas-log fireplace and a built-in bar cabinet with a wine cooler. A three-quarter-season room extends the living space, and the fenced backyard includes a storage shed.
Key Highlights
- 1,608 square feet; built in 1991
- Loft plus a main‑level flex room with a bay window
- Kitchen with maple cabinetry, granite countertops, and a center island
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,846
Cap Rate
6.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$396,920
$396.9K
Cap Rate 7%
$283,514
$283.5K
Cap Rate 9%
$220,511
$220.5K
Market Conditions
NOI Build-Up for 1,608 SF
Gross rent
$38.6K $24.00/SF
− Vacancy
−$2.5K −$1.56/SF
EGI
$36.1K $22.44/SF
− OpEx
−$16.2K −$10.10/SF
NOI
$19.8K $12.34/SF
Area
Lake County, IL
Vacancy
6.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$396,920
Cap Rate 7%
$283,514
Cap Rate 9%
$220,511
Alternative Uses
Best Use
Apartment 5plus
$283.5K
$248.1K – $330.8K
NOI $19,846 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$555.2K
$485.8K – $647.7K
NOI $38,862 @ 7.0% cap · market cap 11.96%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
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Business Placement
Demographics for 60030, IL
36,346
Population
15,006
Households
2.4
Avg Household Size
43
Median Age
49%
College-Educated
97%
High-School Grad
26.8 sq mi
ZIP Area
1,356
Density / Sq Mi
$104,920
Median Household Income
$55,766
Median Earnings
$1,526
Median Rent
$276,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A flexible interior plan includes a loft, a main-level flex room, and a separate family room.
Where is this residential income property located?
The property is located at 494 Buckingham Drive Grayslake, IL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,608 square feet; built in 1991; Loft plus a main‑level flex room with a bay window; Kitchen with maple cabinetry, granite countertops, and a center island
