12-Unit Brick Apartment
For Sale
$1,695,000
7301-09 Dixon Street, Forest Park, IL 60130
Residences have one bedroom and one bathroom, with dedicated parking available on site.
Property Size8,900 SF
Price / SF$190.45
Days on Market9
Property Features for 7301-09 Dixon Street
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
Taxes and HOA fees
Annual Taxes
$7,664
Building Details
Building Size
8,900 SF
Year Built
1962
Buildings
1
Construction
Brick
Listing Agency:
MO2 Brokerage LLC
Listed By:
Giancarlo Iannotta · License #475195344
(773) 661-2772
Source:
Dawnmckennagroup
Added: Sep 27
Changed: Oct 5
Last Checked: Oct 4 at 5:20PM
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.
Built in 1962, this 8,900-square-foot brick apartment property contains 12 one-bedroom, one-bathroom residences and 16 dedicated parking spaces. The property is offered as a condominium deconversion opportunity. Nearly all units have outdated leases or are on month-to-month terms.
Key Highlights
- 12 apartments, each configured with one bedroom and one bathroom
- 8,900 square feet; built in 1962
- Brick construction
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
719
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 - Residences have one bedroom and one bathroom, with dedicated parking available on site.
Where is this apartment building located?
The property is located at 7301-09 Dixon Street 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 configured with one bedroom and one bathroom; 8,900 square feet; built in 1962; Brick construction
