Building Details

Year Built 1975

Listing Agency: Wirtz Real Estate Group Inc

Listed By: Northwest Suburban Real Estate Show Phone

Source: Nwsrealestate

Added: Sep 14 Last Checked: Sep 14 at 2:41PM

Report an Issue

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 Wirtz Real Estate Group Inc

Investment Insights

Based on property information with market context.

This duplex includes two separate residences, each measuring 1,081 square feet with 2 bedrooms, 1 full bath, a living room, kitchen and dining area, closet storage, laundry hookups, ceiling fans, and a 1-car attached garage with opener. Both units open to a shared yard with a concrete patio, while separate utilities are paid by the tenants. The property is located at 527-531 Prairie Street in Hinckley, Illinois, and includes two separate tax bills with two 50-by-150-foot lots forming a combined 100-by-150-foot parcel.

Unit 527 has new vinyl plank flooring, fresh paint, a refreshed bathroom, and new kitchen cabinets, countertops, and stainless steel appliances. Unit 531 features newer cabinets, fresh paint, vinyl plank flooring, and stainless steel appliances. Major capital improvements include a new roof completed in 2022 and two new A/C units and furnaces installed in 2024. The two-unit layout supports leasing both residences or occupying one while renting the other.

Key Highlights

• Two 1,081‑square‑foot units, each with 2 bedrooms and 1 full bath
• Two separate tax bills with 50x150 lots; 100x150 combined lot size
• New roof in 2022; two new A/C units and furnaces installed in 2024

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

$14,027

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

3.20%

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%

$280,540 $280.5K

Cap Rate 7%

$200,386 $200.4K

Cap Rate 9%

$155,856 $155.9K

Market Conditions

NOI Build-Up for 1,081 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

$21.7K $20.04/SF

− Vacancy

−$1.6K −$1.50/SF

EGI

$20.0K $18.54/SF

− OpEx

−$6.0K −$5.56/SF

NOI

$14.0K $12.98/SF

Area

DeKalb County, IL

Vacancy

7.50%

Lease Rate

$20.04 /SF/Yr

Expense Ratio

30.00%

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%

$280,540

Cap Rate 7%

$200,386

Cap Rate 9%

$155,856

Alternative Uses

Best Use

Multifamily LT 5

$200.4K

$175.3K – $233.8K (±1% cap)

NOI $14,027 @ 7.0% cap · market cap 3.20%

Second Best

Apartment 5plus

$179.1K

$156.8K – $209.0K (±1% cap)

NOI $12,540 @ 7.0% cap · market cap 2.86%

Theoretical Best

Office A

$373.2K

$326.6K – $435.4K (±1% cap)

NOI $26,125 @ 7.0% cap · market cap 5.96%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Law Firm HVAC Service Electrical Service Auto Parts Store Building Supply Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

160

Businesses Nearby

Explore this area Business Placement

Demographics for 60520, IL

2,773

Population

1,212

Households

2.3

Avg Household Size

41

Median Age

30%

College-Educated

97%

High-School Grad

45.0 sq mi

ZIP Area

62

Density / Sq Mi

$83,380

Median Household Income

$47,622

Median Earnings

$1,333

Median Rent

$292,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Updated Ranch Duplex

527-531 Prairie Street, Hinckley, IL 60520

$438,500

0.35 Acres

View details

Downtown Mixed-Use Corner Property

101 W Lincoln Ave, Hinckley, IL 60520

Contact for pricing

10,196 SF

View details

Side-by-Side Duplex with Garages

391-401 Rickert Street, Hinckley, IL 60520

$192,500

View details

Two-Unit Residential Income Duplex

529 W Lincoln Avenue, Hinckley, IL 60520

$235,000

View details

Frequently Asked Questions

What type of property is this?

Duplex - Two separate residences offer updated interiors, tenant-paid utilities, attached garages, and shared outdoor space.

Where is this duplex located?

The property is located at 527-531 Prairie St Hinckley, IL.

What is the asking price?

The asking price for this property is $438,500.

What are key features of this property?

This property features: Two 1,081‑square‑foot units, each with 2 bedrooms and 1 full bath; Two separate tax bills with 50x150 lots; 100x150 combined lot size; New roof in 2022; two new A/C units and furnaces installed in 2024