6-Unit Apartment
New
For Sale
$869,700
805 N 22nd Avenue, Melrose Park, IL 60160
All six apartments are occupied, and four have been refreshed recently.
Property Size5,655 SF
Price / SF$153.79
Days on Market5
Property Features for 805 N 22nd Avenue
General Information
Standard status
Active
Size
5,655 SF
Property subtype
Commercial
Zoning
MULTI
Occupancy
100%
Additional Details
Multifamily Units
6
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$13,580
Building Details
Building Size
5,655 SF
Year Built
1961
Stories
2
Units
6
Listing Agency:
Chase Real Estate LLC
Listed By:
Neil Gates · License #475174838
(630) 527-0095
Source:
Fishmangroup
Added: Oct 22
Changed: Oct 26
Last Checked: Oct 23 at 4:10PM
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 Chase Real Estate LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 5,655-square-foot apartment building contains six units and was built in 1961. Five apartments have two bedrooms; the remaining garden-level unit has a different configuration. Four units have received recent updates, and every apartment is currently rented. The property is zoned MULTI.
The seller is willing to replace the roof with an acceptable offer.
The seller is willing to replace the roof with an acceptable offer.
Key Highlights
- Six apartments, all currently occupied
- 5,655 square feet; built in 1961
- Five units have two bedrooms; one garden‑level unit has a different configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,603
Cap Rate
7.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,312,060
$1.3M
Cap Rate 7%
$937,186
$937.2K
Cap Rate 9%
$728,922
$728.9K
Market Conditions
NOI Build-Up for 5,655 SF
Gross rent
$128.3K $22.68/SF
− Vacancy
−$9.0K −$1.59/SF
EGI
$119.3K $21.09/SF
− OpEx
−$53.7K −$9.49/SF
NOI
$65.6K $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%
$1,312,060
Cap Rate 7%
$937,186
Cap Rate 9%
$728,922
Alternative Uses
Best Use
Apartment 5plus
$937.2K
$820.0K – $1.09M
NOI $65,603 @ 7.0% cap · market cap 7.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.95M
$1.71M – $2.28M
NOI $136,669 @ 7.0% cap · market cap 15.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,332
Businesses Nearby
Explore this area
Business Placement
Demographics for 60160, IL
24,776
Population
8,947
Households
2.8
Avg Household Size
35
Median Age
15%
College-Educated
71%
High-School Grad
4.6 sq mi
ZIP Area
5,386
Density / Sq Mi
$64,740
Median Household Income
$39,722
Median Earnings
$1,194
Median Rent
$265,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - All six apartments are occupied, and four have been refreshed recently.
Where is this apartment building located?
The property is located at 805 N 22nd Avenue Melrose Park, IL.
What is the asking price?
The asking price for this property is $869,700.
What are key features of this property?
This property features: Six apartments, all currently occupied; 5,655 square feet; built in 1961; Five units have two bedrooms; one garden‑level unit has a different configuration
