Building Details

Year Built 1985

Listing Agency: Fulton Grace Realty Show Phone

Listed By: Vickie Soupos · License #475125581 Show Phone

Source: Exitrealty

Added: Apr 9, 2025 Changed: Sep 1 Last Checked: Sep 15 at 5:26AM

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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 Fulton Grace Realty

Investment Insights

Based on property information with market context.

This all-brick, legal three-unit building is located on a corner lot across the street from the Ridgemoor Country Club golf course. The property, with a size of 4646 square feet, is fully occupied with long-term tenants. Each unit features three bedrooms, one full bathroom and one half bathroom, a living room, a dining room area, and an eat-in kitchen. The upper two units include balconies. Appliances provided are a refrigerator, stove with hood, and dishwasher. Laundry hook-ups are available in each unit, though tenants supply their own washer and dryer. Each unit is separately metered for gas and electric and has its own central heat and air conditioning units. Tenants are responsible for all utilities; the owner pays for water, which is included in the rent. This property is suitable as an investment or for an owner-occupied buyer, with potential to increase rents.

Key Highlights

• Legal 3‑unit building, ideal for investment or owner‑occupancy.
• Located across the street from Ridgemoor Country Club golf course.
• Fully occupied with long‑term tenants and potential for increased rents.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$77,448

Cap Rate

8.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,548,960 $1.5M

Cap Rate 7%

$1,106,400 $1.1M

Cap Rate 9%

$860,533 $860.5K

Market Conditions

NOI Build-Up for 4,646 SF

Gross rent

$117.1K $25.20/SF

− Vacancy

−$6.4K −$1.39/SF

EGI

$110.6K $23.81/SF

− OpEx

−$33.2K −$7.14/SF

NOI

$77.4K $16.67/SF

Area

Chicago, IL

Vacancy

5.50%

Lease Rate

$25.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,548,960

Cap Rate 7%

$1,106,400

Cap Rate 9%

$860,533

Alternative Uses

Best Use

Multifamily LT 5

$1.11M

$968.1K – $1.29M (±1% cap)

NOI $77,448 @ 7.0% cap · market cap 8.70%

Second Best

Apartment 5plus

$1.02M

$890.2K – $1.19M (±1% cap)

NOI $71,219 @ 7.0% cap · market cap 8.00%

Theoretical Best

Office A

$2.19M

$1.92M – $2.56M (±1% cap)

NOI $153,340 @ 7.0% cap · market cap 17.23%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Law Firm Restaurant Parking Lot & Garage Big Box & Wholesale Store Gym & Fitness Center 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

468

Businesses Nearby

Explore this area Business Placement

Demographics for 60706, IL

24,327

Population

9,720

Households

2.5

Avg Household Size

45

Median Age

30%

College-Educated

87%

High-School Grad

3.1 sq mi

ZIP Area

7,847

Density / Sq Mi

$85,000

Median Household Income

$48,602

Median Earnings

$1,242

Median Rent

$347,600

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 triplexes 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?

Triplex - Legal 3-unit building near Ridgemoor Country Club.

Where is this triplex located?

The property is located at 6520 W Gunnison Street Harwood Heights, IL.

What is the asking price?

The asking price for this property is $889,900.

What are key features of this property?

This property features: Legal 3‑unit building, ideal for investment or owner‑occupancy.; Located across the street from Ridgemoor Country Club golf course.; Fully occupied with long‑term tenants and potential for increased rents.