Updated Two-Unit
527-531 Prairie St, Hinckley, IL 60520
For Sale
$438,500
Two separate residences offer updated interiors, tenant-paid utilities, attached garages, and shared outdoor space.
Property Size1,081 SF
Lot Size0.34 Acres
Price / SF$405.64
Days on Market57
Property Features for 527-531 Prairie St
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Units
Unit Mix
Multifamily Units
Parking per Unit
Amenities
in-unit laundry hook-ups
ceiling fans
concrete patio
shared shed
Building Details
Year Built
Listing Agency:
Wirtz Real Estate Group Inc
Listed By:
Northwest Suburban Real Estate
(815) 893-2410
Source:
Nwsrealestate
Added: Sep 14
Changed: Nov 6
Last Checked: Nov 8 at 6:31AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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.
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 / Yr
$14,027
Cap Rate
3.20%
Suggested Prices Based on Cap Rates
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
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 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
NOI $14,027 @ 7.0% cap · market cap 3.20%
Second Best
Apartment 5plus
$179.1K
$156.8K – $209.0K
NOI $12,540 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$294.8K
$257.9K – $343.9K
NOI $20,634 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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
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
