Updated Condo in
850 Lorraine Road #2M Wheaton, IL 60187
850 Lorraine Road #2M, Wheaton, IL, 60187
$215,000
For Sale
$215,000
Updated 2-bedroom, 2-bath condo in desirable Wheaton location.
Property Size1,100 SF
Price / SF$195.45
Days on Market332
Property Features for 850 Lorraine Road #2M
General Information
- Standard status
- Active
- Size
- 1,100 SF
- Property subtype
- Condominium
Building Details
- Year Built
- 1961
Listing Agency
(630) 776-2404
Listed by
Ken - Kate Albert · License #IL
(630) 776-2404
Source
Kw
Added: Aug 22, 2025 Checked: Jul 19 at 2:01 am
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 Ken - Kate Albert
Investment Insights
Based on property information with market context.
This updated second-floor condo features 2 bedrooms and 2 bathrooms and is located in a well-maintained elevator building. The unit has been freshly painted and features new carpet. The living space includes an expansive living room and dining area that opens to a private balcony. The eat-in kitchen features wood cabinets, ample storage, a generous pantry, Corian countertops, and stainless steel appliances. The primary bedroom includes three large closets with custom closet systems and a private bathroom with a walk-in shower. The second bedroom includes a large closet. A second full bathroom is located off the entryway and includes an additional linen closet. One garage space and one exterior parking space are included. Additional amenities include a storage unit and coin laundry in the building. The property is conveniently located near the College of DuPage, restaurants, parks, and golf courses. The property is located in Wheaton School District 200.
Key Highlights
- Wheaton School District 200
- Updated 2‑Bedroom, 2‑Bath Condo
- Large Eat‑In Kitchen with Wood Cabinets, Corian Countertops, and Stainless Steel Appliances
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.9k | $22.68 |
| − Vacancy | −$1.7k | −$1.59 |
| EGI | $23.2k | $21.09 |
| − OpEx | −$10.4k | −$9.49 |
| NOI | $12.8k | $11.60 |
1,100 SF · lease $22.68/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$182.3K
$159.5K – $212.7K
NOI $12,761 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$379.8K
$332.3K – $443.1K
NOI $26,585 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
House Of Ozren
Clothing Store
Chateau Lorraine Condominiums
Condominium Complex
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Updated 2-bedroom, 2-bath condo in desirable Wheaton location.
Where is this apartment building located?
The property is located at 850 Lorraine Road #2M Wheaton, IL.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Wheaton School District 200; Updated 2‑Bedroom, 2‑Bath Condo; Large Eat‑In Kitchen with Wood Cabinets, Corian Countertops, and Stainless Steel Appliances
