Six-Unit Apartment
9220 Sally Lane Schiller Park, IL 60176
9220 Sally Lane, Schiller Park, IL, 60176
$850,000
Pending
For Sale
$850,000
Pending
Quality-constructed six-unit multifamily property with some recently updated units and strong long-term occupancy history.
Property Size5,985 SF
Days on Market18
Property Features for 9220 Sally Lane
General Information
- Standard status
- Pending
- Size
- 5,985 SF
- Property subtype
- Multi Family 5+ / Flats
Building Details
- Year Built
- 1969
Listing agency
Berkshire Hathaway HomeServices American Heritage
(847) 806-8322
Listed by
Frank Ramljak · License #471007635
(847) 806-8322
Source
Compass
Added: Jul 5 Updated: Jul 22 at 11:01AM Checked: Jul 22 at 11:01AM
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 Berkshire Hathaway HomeServices American Heritage
Investment Insights
Based on property information with market context.
Attractive, quality-constructed six-unit apartment building presented as nicely maintained from top to bottom. The property includes several units that have been updated recently, and it benefits from long-term ownership and long-term tenants.
The building is described as being close to restaurants, a forest preserve, and the interstate highway system, with proximity also noted to O’Hare Airport and the Rosemont Blue Line CTA station.
This is a straightforward multifamily holding with a total of six residential units, offered for sale.
The building is described as being close to restaurants, a forest preserve, and the interstate highway system, with proximity also noted to O’Hare Airport and the Rosemont Blue Line CTA station.
This is a straightforward multifamily holding with a total of six residential units, offered for sale.
Key Highlights
- 6‑unit multifamily apartment building built in 1969
- Quality‑constructed and nicely maintained, with some units updated recently
- Long‑time owner and several long‑term tenants
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 | $135.7k | $22.68 |
| − Vacancy | −$9.5k | −$1.59 |
| EGI | $126.2k | $21.09 |
| − OpEx | −$56.8k | −$9.49 |
| NOI | $69.4k | $11.60 |
5,985 SF · lease $22.68/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$991.9K
$867.9K – $1.16M
NOI $69,431 @ 7.0% cap · market cap 8.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.07M
$1.81M – $2.41M
NOI $144,644 @ 7.0% cap · market cap 17.02%
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 - Quality-constructed six-unit multifamily property with some recently updated units and strong long-term occupancy history.
Where is this apartment building located?
The property is located at 9220 Sally Lane Schiller Park, IL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 6‑unit multifamily apartment building built in 1969; Quality‑constructed and nicely maintained, with some units updated recently; Long‑time owner and several long‑term tenants
