900 Greenbrier Rd DeKalb, IL 60115
- Commercial real estate
Current Use by Public Records
- Sigma Alpha Mu - Gamma Lambda / Fraternal Organization / Non-Profit Organization
- Sigma Alpha Mu / Fraternal Organization
Property Details for 900 Greenbrier Rd
- Property type
- Commercial real estate
- APN
- 08-15-152-010
- APU
- 815152010
Description
This exceptional 9,600 square foot commercial property, located at 900 Greenbrier Road in DeKalb, Illinois, presents a unique investment opportunity. Currently vacant, this three-story building previously served as a fraternity house on the Northern Illinois University campus. The property boasts 28 bedrooms, offering significant potential for various uses. Shared bathroom and shower facilities are conveniently located on each floor. A full, finished basement includes a functional kitchen, adding further versatility. The property's proximity to Northern Illinois University makes it ideally suited for student housing, a use it previously enjoyed. However, its size and layout also lend themselves to conversion into apartments, offering a strong potential for rental income. This receivership sale presents a chance to acquire a substantial property at an attractive price. The building is being sold as-is, and the sale is contingent upon court approval. Serious inquiries are encouraged to explore the possibilities this property offers. The property sits on a lot with no acreage listed. The asking price is $510,000. All interested parties should be prepared to navigate the legal processes associated with a receivership sale. This is a rare opportunity to acquire a large, well-located building with significant redevelopment potential in a vibrant college town.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $705,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $875,000
- 6.5%
- $805,000
- 7%
- $870,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $815,000
- Geo Method
- $780,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $650,000
- Retail
- $660,000
- Mixed-Use
- $705,000
- Hospitality
- $645,000
- Educational
- $615,000
- Residential Income
- $720,000
- Energy
- $760,000
- Income-Based Land
- $695,000
- Food Service
- $645,000
Location Insight
- Map
- Local Demand
- City
- Dekalb
- County
- Dekalb
- State
- Illinois
- Longitude
- -88.7685
- Latitude
- 41.9438
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
