Six-Unit Multifamily
For Sale
$899,900
8807 Dee Road, Des Plaines, IL 60016
Six-unit residential building with five currently rented units, offering income and room for updating and rent alignment.
Property Size4,928 SF
Price / SF$182.61
Days on Market229
Property Features for 8807 Dee Road
General Information
Standard status
Active
Size
4,928 SF
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$16,269
Amenities
3
81X 87
Building Details
Year Built
1969
Tenancy
Multi
Listing Agency:
RE/MAX City
(773) 775-0600
Listed By:
Jesus Vazquez · License #475142675
(773) 297-0457
Source:
Xome
Added: Jan 19
Changed: Sep 2
Last Checked: Sep 5 at 6:03AM
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 RE/MAX City
Investment Insights
Based on property information with market context.
This six-unit multifamily property at 8807 Dee Road is well maintained and offers a mix of income and management flexibility. Five of the six units are currently rented, providing immediate collected revenue for an owner. The remaining unit is available to support continued leasing and operational updates. The property is described as having spacious layouts and solid construction.
The building is set in a quiet residential subdivision, with convenient access described as being minutes from shopping, dining, Metra, and major expressways. The seller notes current rents are below market and that the potential to align rents exists.
Buyer verification is recommended, including confirmation of income figures and any assumptions related to rent potential. The listed potential rent is stated as $9,825 per month ($117,900 annually), and the operating status is described as fully stabilized.
The building is set in a quiet residential subdivision, with convenient access described as being minutes from shopping, dining, Metra, and major expressways. The seller notes current rents are below market and that the potential to align rents exists.
Buyer verification is recommended, including confirmation of income figures and any assumptions related to rent potential. The listed potential rent is stated as $9,825 per month ($117,900 annually), and the operating status is described as fully stabilized.
Key Highlights
- 1969‑built six‑unit residential building at 8807 Dee Rd in Des Plaines
- 5 of 6 units currently rented, providing immediate income
- Current rents are below market
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$57,169
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.98M
NOI $119,099 @ 7.0% cap · market cap 13.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,293
Businesses Nearby
Explore this area
Business Placement
Demographics for 60016, IL
61,888
Population
25,613
Households
2.4
Avg Household Size
42
Median Age
43%
College-Educated
89%
High-School Grad
12.1 sq mi
ZIP Area
5,115
Density / Sq Mi
$84,044
Median Household Income
$50,180
Median Earnings
$1,406
Median Rent
$300,700
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 - Six-unit residential building with five currently rented units, offering income and room for updating and rent alignment.
Where is this apartment building located?
The property is located at 8807 Dee Road Des Plaines, IL.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 1969‑built six‑unit residential building at 8807 Dee Rd in Des Plaines; 5 of 6 units currently rented, providing immediate income; Current rents are below market
