Multifamily Property with Private
For Sale
$599,900
Pending
4968 Pine Meadow Pkwy, Loves Park, IL 61111
Units include private outdoor areas, in-unit laundry, and dedicated heating and water systems.
Property Size4,568 SF
Days on Market28
Property Features for 4968 Pine Meadow Pkwy
General Information
Standard status
Pending
Size
4,568 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$9,924
Listing Agency:
DICKERSON & NIEMAN
(815) 308-0128
Listed By:
Larry Holen · License #471007097
(815) 308-0128
Source:
Exprealty
Added: Aug 3
Changed: Aug 29
Last Checked: Aug 29 at 6:29PM
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 DICKERSON & NIEMAN
Investment Insights
Based on property information with market context.
This multifamily property offers tenant-focused layouts with private outdoor areas accessed from living rooms through sliding doors. Each unit includes a washer and dryer, a generous mudroom, and separate furnaces and water heaters. Private one-car garages provide dedicated parking for residents, while additional parking serves guests.
The property is positioned near the I-90/I-39 corridor. Long-term tenants are in place, adding an established occupancy profile to the building’s practical residential features.
The property is positioned near the I-90/I-39 corridor. Long-term tenants are in place, adding an established occupancy profile to the building’s practical residential features.
Key Highlights
- Private one‑car garages assigned to tenants
- Each unit includes private outdoor space with living‑room slider access
- In‑unit washer and dryer included for every unit
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
$40,175
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
6.70%
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%
$803,500
$803.5K
Cap Rate 7%
$573,929
$573.9K
Cap Rate 9%
$446,389
$446.4K
Market Conditions
NOI Build-Up for 4,568 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
$79.5K $17.40/SF
− Vacancy
−$6.4K −$1.41/SF
EGI
$73.0K $15.99/SF
− OpEx
−$32.9K −$7.20/SF
NOI
$40.2K $8.79/SF
Area
Winnebago County, IL
Vacancy
8.10%
Lease Rate
$17.40 /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%
$803,500
Cap Rate 7%
$573,929
Cap Rate 9%
$446,389
Alternative Uses
Best Use
Apartment 5plus
$573.9K
$502.2K – $669.6K
NOI $40,175 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,157 @ 7.0% cap · market cap 14.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 61111, IL
23,028
Population
10,248
Households
2.2
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
14.2 sq mi
ZIP Area
1,622
Density / Sq Mi
$58,391
Median Household Income
$42,751
Median Earnings
$1,101
Median Rent
$143,700
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?
Multifamily property - Units include private outdoor areas, in-unit laundry, and dedicated heating and water systems.
Where is this multifamily property located?
The property is located at 4968 Pine Meadow Pkwy Loves Park, IL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Private one‑car garages assigned to tenants; Each unit includes private outdoor space with living‑room slider access; In‑unit washer and dryer included for every unit
