Two-Building Multifamily
921 College Avenue Wheaton, IL 60187
921 College Avenue, Wheaton, IL, 60187
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For Sale
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Two well-maintained multifamily buildings offer nine total units, including eight two-bedroom apartments and one renovated three-bedroom unit.
Property Size11,150 SF
Price / SF$182.96
Days on Market44
Property Features for 921 College Avenue
General Information
- Standard status
- Active
- Size
- 11,150 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1962
Listing agency
Triad Real Estate Partners
Listed by
Daniel Deja · License #IL 475199103
Source
Crexi
Added: Jun 8 Updated: Jul 21 at 4:56AM Checked: Jul 21 at 4:56AM
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 Triad Real Estate Partners
Investment Insights
Based on property information with market context.
Triad presents 921 & 933 N College Ave, a multifamily investment featuring two well-maintained buildings totaling nine apartment units. The unit mix includes eight two-bedroom residences and one three-bedroom unit that was fully renovated and updated in 2026. Each unit has separately metered utilities, supporting straightforward operational management.
The property provides garage and surface parking and includes on-site laundry. It is located within walking distance of downtown Wheaton, the train station, shopping, dining, and Wheaton College.
For investors, the offering also includes opportunities tied to future renovations and potential reconfiguration of surplus space.
The property provides garage and surface parking and includes on-site laundry. It is located within walking distance of downtown Wheaton, the train station, shopping, dining, and Wheaton College.
For investors, the offering also includes opportunities tied to future renovations and potential reconfiguration of surplus space.
Key Highlights
- Two multifamily buildings totaling 9 apartment units: 8 two‑bedroom units plus 1 renovated three‑bedroom unit
- Renovated three‑bedroom unit updated in 2026
- Year built: 1962
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 | $252.9k | $22.68 |
| − Vacancy | −$17.7k | −$1.59 |
| EGI | $235.2k | $21.09 |
| − OpEx | −$105.8k | −$9.49 |
| NOI | $129.3k | $11.60 |
11,150 SF · lease $22.68/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.85M
$1.62M – $2.16M
NOI $129,349 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.85M
$3.37M – $4.49M
NOI $269,471 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Two well-maintained multifamily buildings offer nine total units, including eight two-bedroom apartments and one renovated three-bedroom unit.
Where is this apartment building located?
The property is located at 921 College Avenue Wheaton, IL.
What is the asking price?
The asking price for this property is $2,040,000.
What are key features of this property?
This property features: Two multifamily buildings totaling 9 apartment units: 8 two‑bedroom units plus 1 renovated three‑bedroom unit; Renovated three‑bedroom unit updated in 2026; Year built: 1962
