Six-Unit Apartment
For Sale
$850,000
7121 170th Street, Tinley Park, IL 60477
A mixed-unit residential property with shared coin-operated laundry and a private parking area.
Property Size4,928 SF
Price / SF$172.48
Days on Market71
Property Features for 7121 170th Street
General Information
Standard status
Active
Size
4,928 SF
Total Parking Spaces
10
Property subtype
Commercial
Zoning
MULTI
Units
Unit Mix
3 x 2BR/1BA, 3 x 1BR/1BA
Multifamily Units
6
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$20,227
Amenities
coin-operated washer and dryer
Building Details
Building Size
4,928 SF
Year Built
1971
Buildings
1
Stories
3
Units
6
Listing Agency:
NS International Realty, INC
Listed By:
Srdan Sterleman · License #471021426
(773) 503-6742
Source:
Fishmangroup
Added: Aug 16
Changed: Oct 23
Last Checked: Oct 23 at 1:23PM
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 NS International Realty, INC
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Investment Insights
Based on property information with market context.
Built in 1971, this 4,928-square-foot apartment building contains six units: three two-bedroom, one-bath apartments and three one-bedroom, one-bath apartments. Most units have been updated and are rented. Shared areas are maintained, and the property includes a coin-operated washer and dryer.
A private lot provides 10 parking spaces. The building meets Tinley Park’s direct fire alarm system requirement. Downtown Tinley Park, the Metra station, restaurants, shopping, and parks are nearby.
A private lot provides 10 parking spaces. The building meets Tinley Park’s direct fire alarm system requirement. Downtown Tinley Park, the Metra station, restaurants, shopping, and parks are nearby.
Key Highlights
- Six apartments: three 2‑bedroom, 1‑bath units and three 1‑bedroom, 1‑bath units
- 4,928‑square‑foot building constructed in 1971
- Private parking lot with 10 spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,169
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,143,380
$1.1M
Cap Rate 7%
$816,700
$816.7K
Cap Rate 9%
$635,211
$635.2K
Market Conditions
NOI Build-Up for 4,928 SF
Gross rent
$111.8K $22.68/SF
− Vacancy
−$7.8K −$1.59/SF
EGI
$103.9K $21.09/SF
− OpEx
−$46.8K −$9.49/SF
NOI
$57.2K $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 Rate 5%
$1,143,380
Cap Rate 7%
$816,700
Cap Rate 9%
$635,211
Alternative Uses
Best Use
Apartment 5plus
$816.7K
$714.6K – $952.8K
NOI $57,169 @ 7.0% cap · market cap 6.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.98M
NOI $119,099 @ 7.0% cap · market cap 14.01%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,032
Businesses Nearby
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Business Placement
Demographics for 60477, IL
37,335
Population
16,261
Households
2.3
Avg Household Size
43
Median Age
34%
College-Educated
95%
High-School Grad
14.2 sq mi
ZIP Area
2,629
Density / Sq Mi
$93,862
Median Household Income
$57,381
Median Earnings
$1,485
Median Rent
$262,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - A mixed-unit residential property with shared coin-operated laundry and a private parking area.
Where is this apartment building located?
The property is located at 7121 170th Street Tinley Park, IL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Six apartments: three 2‑bedroom, 1‑bath units and three 1‑bedroom, 1‑bath units; 4,928‑square‑foot building constructed in 1971; Private parking lot with 10 spaces
