Condominium Income
For Sale
$215,900
5401 Chateau Drive Unit 4, Rolling Meadows, IL 60008
Condominium unit offering residential living space with potential for owner occupancy or investment use.
Property Size1,000 SF
Price / SF$215.90
Days on Market33
Property Features for 5401 Chateau Drive Unit 4
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Condo-Duplex
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,358
Building Details
Building Size
1,000 SF
Year Built
1982
Listing Agency:
Beycome Brokerage Realty LLC
(702) 763-2222
Listed By:
Jeffrey Sklar · License #02075404
Source:
Dawnmckennagroup
Added: Jul 29
Changed: Aug 29
Last Checked: Aug 29 at 3:26PM
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 Beycome Brokerage Realty LLC
Investment Insights
Based on property information with market context.
This residential income property is a condominium unit identified as Unit 4 at 5401 Chateau Drive. The residence contains 1,000 square feet of living area and was built in 1982.
The property is located in Rolling Meadows, Illinois, within the 60008 ZIP code. The source information identifies the condominium as suitable for either primary residential occupancy or investment ownership.
The property is located in Rolling Meadows, Illinois, within the 60008 ZIP code. The source information identifies the condominium as suitable for either primary residential occupancy or investment ownership.
Key Highlights
- 1,000‑square‑foot condominium unit
- Unit 4 at 5401 Chateau Drive
- Built in 1982
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
$11,601
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
5.37%
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%
$232,020
$232.0K
Cap Rate 7%
$165,729
$165.7K
Cap Rate 9%
$128,900
$128.9K
Market Conditions
NOI Build-Up for 1,000 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
$22.7K $22.68/SF
− Vacancy
−$1.6K −$1.59/SF
EGI
$21.1K $21.09/SF
− OpEx
−$9.5K −$9.49/SF
NOI
$11.6K $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%
$232,020
Cap Rate 7%
$165,729
Cap Rate 9%
$128,900
Alternative Uses
Best Use
Apartment 5plus
$165.7K
$145.0K – $193.4K
NOI $11,601 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$345.3K
$302.1K – $402.8K
NOI $24,168 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
Explore this area
Business Placement
Demographics for 60008, IL
22,760
Population
9,282
Households
2.5
Avg Household Size
40
Median Age
39%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
4,463
Density / Sq Mi
$96,213
Median Household Income
$47,405
Median Earnings
$1,561
Median Rent
$295,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium unit offering residential living space with potential for owner occupancy or investment use.
Where is this residential income property located?
The property is located at 5401 Chateau Drive Unit 4 Rolling Meadows, IL.
What is the asking price?
The asking price for this property is $215,900.
What are key features of this property?
This property features: 1,000‑square‑foot condominium unit; Unit 4 at 5401 Chateau Drive; Built in 1982
