Building Details

Building Size 1,600 SF

Year Built 1979

Listing Agency: Keller Williams Preferred Realty

Listed By: Harry Ventimiglia · License #475116431 Show Phone

Source: Kw

Added: Aug 21, 2025 Changed: Sep 25 Last Checked: Oct 5 at 4:18PM

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Investment Insights

Based on property information with market context.

This is a rarely available first-floor end unit condo featuring 3 bedrooms and 2 bathrooms. Located in Woods Edge in Palos Hills, the unit includes a screened porch overlooking forest preserves. The property has been meticulously maintained and updated, featuring a modern kitchen that opens to the dining area and living room, which includes a corner fireplace. A three-season room provides additional storage space. The condo includes three bedrooms, with the primary suite having a private bath. There is a convenient in-unit laundry room. The property also includes an extra-deep one-car garage located directly out the front door. Woods Edge offers walking paths with bridges, an outdoor pool, and a clubhouse. The location provides convenient access to local shopping, restaurants, and transportation. The property size is approximately 1600 square feet.

Key Highlights

• First floor end unit with screened porch overlooking forest preserves.
• 3 bedrooms, including a primary suite with private bath.
• Modern kitchen open to dining area and living room with corner fireplace.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,561

Cap Rate

7.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$371,220 $371.2K

Cap Rate 7%

$265,157 $265.2K

Cap Rate 9%

$206,233 $206.2K

Market Conditions

NOI Build-Up for 1,600 SF

Gross rent

$36.3K $22.68/SF

− Vacancy

−$2.5K −$1.59/SF

EGI

$33.7K $21.09/SF

− OpEx

−$15.2K −$9.49/SF

NOI

$18.6K $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%

$371,220

Cap Rate 7%

$265,157

Cap Rate 9%

$206,233

Alternative Uses

Best Use

Apartment 5plus

$265.2K

$232.0K – $309.4K (±1% cap)

NOI $18,561 @ 7.0% cap · market cap 7.00%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$552.4K

$483.4K – $644.5K (±1% cap)

NOI $38,668 @ 7.0% cap · market cap 14.59%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Restaurant Spa & Massage Center HVAC Service (Bike/Boat/Book/etc) Store Plumbing Service Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

107

Businesses Nearby

Explore this area Business Placement

Demographics for 60465, IL

18,530

Population

7,885

Households

2.4

Avg Household Size

42

Median Age

25%

College-Educated

87%

High-School Grad

4.3 sq mi

ZIP Area

4,309

Density / Sq Mi

$83,969

Median Household Income

$50,990

Median Earnings

$1,267

Median Rent

$259,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Three-bedroom condo with screened porch, garage, and community amenities.

Where is this apartment building located?

The property is located at 9198 South Road #A Palos Palos Hills, IL.

What is the asking price?

The asking price for this property is $265,000.

What are key features of this property?

This property features: First floor end unit with screened porch overlooking forest preserves.; 3 bedrooms, including a primary suite with private bath.; Modern kitchen open to dining area and living room with corner fireplace.