7-Unit Apartment Building with
5592 WICKFORD Lane, Loves Park, IL 61111
For Sale
$899,900
Pending
MULTIFAMILY, LOVES PARK, IL
Property Size5,241 SF
Days on Market68
Property Features for 5592 WICKFORD Lane
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Appliances
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Subdivision
Standard status
APN
Size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Amenities
laundry room
Building Details
Year built
Floors in Building
Number of units
Roof type
Listing Agency:
DICKERSON & NIEMAN
(815) 227-5900
Listed By:
Mark Payne · License IL #475127655
(815) 978-0788
Added: Sep 3
Changed: Nov 5
Last Checked: Nov 9 at 7:06PM
MLS# 202605596
Copyright © 2026 NorthWest Illinois Alliance of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 5,241-square-foot apartment property contains seven units: three with three bedrooms, one with two bedrooms and two bathrooms, and three with one bedroom. The two-bedroom apartment has been remodeled. Each unit includes a laundry room and a forced-air furnace; central air is also listed. The building was constructed in 1990 and has a shingle roof that is seven years old.
Four apartments have attached garages accommodating more than two cars each. An additional seven garage spaces are available for tenant use or rent. The landlord pays water and sewer expenses.
Four apartments have attached garages accommodating more than two cars each. An additional seven garage spaces are available for tenant use or rent. The landlord pays water and sewer expenses.
Key Highlights
- Seven apartments: three 3‑bedroom, one 2‑bedroom/2‑bathroom, and three 1‑bedroom units
- 5,241 square feet; built in 1990
- Four units have attached garages with capacity for more than two cars each
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,094
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$921,880
$921.9K
Cap Rate 7%
$658,486
$658.5K
Cap Rate 9%
$512,156
$512.2K
Market Conditions
NOI Build-Up for 5,241 SF
Gross rent
$91.2K $17.40/SF
− Vacancy
−$7.4K −$1.41/SF
EGI
$83.8K $15.99/SF
− OpEx
−$37.7K −$7.20/SF
NOI
$46.1K $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 Rate 5%
$921,880
Cap Rate 7%
$658,486
Cap Rate 9%
$512,156
Alternative Uses
Best Use
Apartment 5plus
$658.5K
$576.2K – $768.2K
NOI $46,094 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $99,998 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
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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
$143,700
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Winnebago County, IL
Properties on Market for Apartment buildings in Winnebago County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix includes three-bedroom, two-bedroom, and one-bedroom apartments, with laundry rooms in each unit.
Where is this apartment building located?
The property is located at 5592 WICKFORD Lane Loves Park, IL.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Seven apartments: three 3‑bedroom, one 2‑bedroom/2‑bathroom, and three 1‑bedroom units; 5,241 square feet; built in 1990; Four units have attached garages with capacity for more than two cars each
