Building Details

Year Built 1985

Year Renovated 2010

Buildings 1

Stories 2

Units 3

Listing Agency: Fulton Grace Realty v***@colovos-soupos.com Show Phone

Listed By: Vickie Soupos · License #IL 475.125581

Source: Crexi

Added: Sep 28, 2021 Changed: Aug 19 Last Checked: Aug 19 at 9:43PM

Report an Issue

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 = 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

$77,448

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

8.70%

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%

$1,548,960 $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 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

$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 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%

$1,548,960

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

Property Profile

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

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

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?

Ask Rey about this property ...

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 St 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.