Updated Condo in Four
For Sale
$240,000
5902 Forest View Road #2D, Lisle, IL 60532
Updated condo with resort-style amenities and convenient location.
Property Size1,001 SF
Days on Market365
Property Features for 5902 Forest View Road #2D
General Information
Standard status
Active
Size
1,001 SF
Property subtype
Condominium
Amenities
Central Air
Natural Gas
Forced Air
Range
Microwave
Dishwasher
Refrigerator
Washer
Dryer
Stainless Steel Appliance(s)
Range Hood
Deck, Patio, Water Front
Building Details
Building Size
1,001 SF
Year Built
1970
Listing Agency:
Redfin Corporation
(224) 699-5002
Listed By:
Melissa Kingsbury · License #475177202
(224) 699-5002
Source:
Kw
Added: Aug 21, 2025
Changed: Aug 8
Last Checked: Aug 18 at 10:33PM
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 Redfin Corporation
Investment Insights
Based on property information with market context.
This updated condo is located in the Four Lakes community. The living room features exposed brick, a wood-burning fireplace, and views of the surrounding greenspace. The kitchen includes ample cabinet space, a breakfast bar, stainless steel appliances, and a walk-in pantry, with an adjacent dining area. The primary suite has an oversized closet and a full ensuite bath. A second bedroom, an additional full bath, and in-unit laundry are also included. An expansive balcony overlooks the private green space. Recent updates include new carpet, kitchen fixtures, and fresh paint in 2025, as well as new laminate flooring in 2023. Two parking spaces are included. Residents of Four Lakes have access to a health club, four swimming pools, a fitness center, walking trails, picnic areas with grills, a community pub and restaurant, volleyball courts, ski slopes, and fishing ponds. Nearby attractions include the Morton Arboretum, Sea Lion Aquatic Park, and Downtown Naperville's shops and restaurants. Commuting is facilitated by access to I-355 and I-88. The property is investor and pet friendly.
Key Highlights
- Resort‑style amenities including four swimming pools, health club, fitness center, walking trails, and more.
- Updated condo featuring new carpet, kitchen fixtures, and fresh paint (2025), plus new laminate flooring (2023).
- Two included parking spaces.
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
$11,612
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
4.84%
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%
$232,240
$232.2K
Cap Rate 7%
$165,886
$165.9K
Cap Rate 9%
$129,022
$129.0K
Market Conditions
NOI Build-Up for 1,001 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
DuPage 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%
$232,240
Cap Rate 7%
$165,886
Cap Rate 9%
$129,022
Alternative Uses
Best Use
Apartment 5plus
$165.9K
$145.2K – $193.5K
NOI $11,612 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$345.6K
$302.4K – $403.2K
NOI $24,192 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
Explore this area
Business Placement
Demographics for 60532, IL
28,766
Population
13,203
Households
2.2
Avg Household Size
39
Median Age
59%
College-Educated
98%
High-School Grad
8.5 sq mi
ZIP Area
3,384
Density / Sq Mi
$100,373
Median Household Income
$64,114
Median Earnings
$1,576
Median Rent
$387,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Updated condo with resort-style amenities and convenient location.
Where is this apartment building located?
The property is located at 5902 Forest View Road #2D Lisle, IL.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Resort‑style amenities including four swimming pools, health club, fitness center, walking trails, and more.; Updated condo featuring new carpet, kitchen fixtures, and fresh paint (2025), plus new laminate flooring (2023).; Two included parking spaces.
