Sun-Filled Condo with Courtyard
For Sale
$275,000
709 79th Street #307, Darien, IL 60561
Comfortable condo in a quiet neighborhood with convenient amenities.
Property Size1,089 SF
Price / SF$252.53
Days on Market379
Property Features for 709 79th Street #307
General Information
Standard status
Active
Size
1,089 SF
Property subtype
Condominium
Amenities
Electric
Central Air
Microwave
Dishwasher
Refrigerator
Washer
Dryer
Disposal
Cooktop
Oven
Deck
Building Details
Building Size
1,089 SF
Year Built
1979
Listing Agency:
homecoin.com
(630) 421-9900
Listed By:
Courtney Monaco · License #475127875
(630) 421-9900
Source:
Kw
Added: Aug 7, 2025
Changed: Aug 8
Last Checked: Aug 18 at 10:30PM
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 homecoin.com
Investment Insights
Based on property information with market context.
This sun-filled condo offers a blend of comfort and convenience in a quiet residential neighborhood. The unit features a southern exposure that provides natural light and courtyard views. The open layout includes a spacious living/dining room with a balcony overlooking the grounds. The kitchen offers cabinet space, granite countertops, and room for a breakfast table. The primary suite includes an en-suite bath and a walk-in closet. The second bedroom can be used as an office and is located next to a hall bath. A convenient in-unit washer/dryer combo is included, and a shared coin laundry is available in the garage. Ample in-unit closet space is provided, along with a dedicated closet across the hall and additional storage near the assigned garage parking space. The elevator building includes security door locks, lobby and garage security cameras, and an intercom system. The heated underground garage provides one assigned space per unit, and guest parking is available outside. The community features an outdoor pool with a lifeguard, sun deck, and changing rooms. The grounds are professionally landscaped with greenery and mature trees. The location offers proximity to schools, parks and trails, local dining, shopping, and golf courses, with access to major highways. The property is suitable for investors, as units can be rented. The property size is 1089 square feet.
Key Highlights
- Highly desirable location: Close to top‑rated schools, parks, trails, dining, shopping, golf courses, and major highways.
- Secure, heated underground garage with assigned parking and ample guest parking.
- Spacious 2 bed, 2 bath condo with open layout, balcony, and abundant storage (in‑unit, dedicated closet, and garage storage).
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
$12,633
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
4.59%
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%
$252,660
$252.7K
Cap Rate 7%
$180,471
$180.5K
Cap Rate 9%
$140,367
$140.4K
Market Conditions
NOI Build-Up for 1,089 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
$24.7K $22.68/SF
− Vacancy
−$1.7K −$1.59/SF
EGI
$23.0K $21.09/SF
− OpEx
−$10.3K −$9.49/SF
NOI
$12.6K $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%
$252,660
Cap Rate 7%
$180,471
Cap Rate 9%
$140,367
Alternative Uses
Best Use
Apartment 5plus
$180.5K
$157.9K – $210.6K
NOI $12,633 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$376.0K
$329.0K – $438.7K
NOI $26,319 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
Explore this area
Business Placement
Demographics for 60561, IL
23,139
Population
9,549
Households
2.4
Avg Household Size
47
Median Age
51%
College-Educated
95%
High-School Grad
6.6 sq mi
ZIP Area
3,506
Density / Sq Mi
$109,974
Median Household Income
$57,697
Median Earnings
$1,684
Median Rent
$388,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Comfortable condo in a quiet neighborhood with convenient amenities.
Where is this apartment building located?
The property is located at 709 79th Street #307 Darien, IL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Highly desirable location: Close to top‑rated schools, parks, trails, dining, shopping, golf courses, and major highways.; Secure, heated underground garage with assigned parking and ample guest parking.; Spacious 2 bed, 2 bath condo with open layout, balcony, and abundant storage (in‑unit, dedicated closet, and garage storage).
