12-Unit Brick Apartment
New
For Sale
$1,695,000
7301-09 Dixon St, Forest Park, IL 60130
Dedicated on-site parking serves a one-bedroom apartment configuration in Forest Park.
Property Size8,900 SF
Price / SF$190.45
Days on Market7
Property Features for 7301-09 Dixon St
General Information
Standard status
Active
Size
8,900 SF
Total Parking Spaces
16
Property subtype
Multi-Family
Units
Unit Mix
12 x 1BR/1BA
Multifamily Units
12
Building Details
Year Built
1962
Construction
solid brick
Listing Agency:
MO2 Brokerage LLC
Listed By:
Giancarlo Iannotta · License #475195344
(773) 661-2772
Source:
Realtopiare
Added: Sep 29
Changed: Oct 5
Last Checked: Oct 4 at 3:37PM
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 MO2 Brokerage LLC
Investment Insights
Based on property information with market context.
The 8,900-square-foot brick apartment building was constructed in 1962 and contains 12 units, each with one bedroom and one bathroom. The property also includes 16 dedicated parking spaces.
Nearly all apartments are subject to outdated or month-to-month leases. The property is located at 7301-09 Dixon St in Forest Park, Illinois.
Nearly all apartments are subject to outdated or month-to-month leases. The property is located at 7301-09 Dixon St in Forest Park, Illinois.
Key Highlights
- 12 apartments, each with 1 bedroom and 1 bathroom
- 8,900‑square‑foot brick apartment building
- 16 dedicated parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,326
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,746,520
$1.7M
Cap Rate 7%
$1,247,514
$1.2M
Cap Rate 9%
$970,289
$970.3K
Market Conditions
NOI Build-Up for 8,900 SF
Gross rent
$169.8K $19.08/SF
− Vacancy
−$11.0K −$1.24/SF
EGI
$158.8K $17.84/SF
− OpEx
−$71.4K −$8.03/SF
NOI
$87.3K $9.81/SF
Area
Joliet, IL
Vacancy
6.50%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,746,520
Cap Rate 7%
$1,247,514
Cap Rate 9%
$970,289
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.09M – $1.46M
NOI $87,326 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.62M
$2.30M – $3.06M
NOI $183,696 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
Explore this area
Business Placement
Demographics for 60130, IL
14,346
Population
7,777
Households
1.8
Avg Household Size
42
Median Age
50%
College-Educated
95%
High-School Grad
2.8 sq mi
ZIP Area
5,124
Density / Sq Mi
$81,323
Median Household Income
$61,518
Median Earnings
$1,352
Median Rent
$293,800
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 - Dedicated on-site parking serves a one-bedroom apartment configuration in Forest Park.
Where is this apartment building located?
The property is located at 7301-09 Dixon St Forest Park, IL.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: 12 apartments, each with 1 bedroom and 1 bathroom; 8,900‑square‑foot brick apartment building; 16 dedicated parking spaces
