Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    900 Greenbrier Rd DeKalb, IL 60115

    • Commercial real estate
    For Sale
    View listing
    $510,000
    Last Sale
    Jan 28, 2025
    $745,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-5889774
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    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 Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $705,000

    Get a detailed, property-specific valuation — fast and free

    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

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $14,684
    $27,020
    $128,973
    $155,993
    -
    $81,060
    $386,919
    $467,979

    Comparable in this City

    • Value Estimation by Request

      2050 Lincoln Hwy

      Land
      2050 Lincoln Hwy, DeKalb, IL 60115
      View Details
    • Value Estimation by Request

      1134 Regent Dr

      COMMERCIAL (GENERAL)
      1134 Regent Dr, Dekalb, IL 60115-6540
      View Details
    • Value Estimation
      $295,000
      0.92 Acres

      115 Simonds Ave

      COMMERCIAL (GENERAL) • 0.92 Acres
      115 Simonds Ave, Dekalb, IL 60115-3968
      View Details
    • Value Estimation by Request

      922 Spiros Ct

      COMMERCIAL (GENERAL)
      922 Spiros Ct, Dekalb, IL 60115-1226
      View Details
    • Value Estimation
      $265,000
      0.26 Acres

      314 Sunset Pl

      COMMERCIAL (GENERAL) • 0.26 Acres
      314 Sunset Pl, Dekalb, IL 60115-4369
      View Details
    • Value Estimation
      $360,000
      7.57 Acres

      2060 Sycamore Rd

      COMMERCIAL (GENERAL) • 7.57 Acres
      2060 Sycamore Rd, Dekalb, IL 60115-2043
      View Details

    Similar Nearby for Sale

    • $10,400,000
      52.00 Acres

      Bethany Center: 52 Acres in DeKalb

      Prime DeKalb County land, exceptional development potential.
      0 Bethany Rd, DeKalb, IL 60115
      View Details
    • $2,139,000
      55,667 SF

      DeKalb Retail Building - High Traffic!

      Prime NIU location, multiple lease spaces available.
      901 Lucinda Ave, DeKalb, IL 60115
      View Details
    • $3,200,000
      59.38 Acres

      DeKalb Commercial Land - 59 Acres

      Prime DeKalb commercial land, ideal for development.
      23 & Barber Greene, DeKalb, IL 60115
      View Details
    • $319,900
      4,300 SF

      Historic DeKalb Commercial Property

      Nine-bedroom rooming house, prime location.
      325 College Ave, DeKalb, IL 60115
      View Details
    • $935,000

      DeKalb Multi-Unit Investment Property

      Six & Three-Unit Buildings Near NIU
      501 College Ave, DeKalb, IL 60115
      View Details
    • $4,867,200
      101.40 Acres

      Prime DeKalb County Land Investment

      101.4 Acres, Light Industrial Zoning
      0 Tbd Peace Rd, DeKalb, IL 60115
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      96,283 SF

      DeKalb Retail Center Investment

      Prime DeKalb retail space available.
      1680-1730 Sycamore Rd, DeKalb, IL 60115
      View Details
    • Contact for pricing
      1,400 SF

      DeKalb Retail Anchor Space Available

      Retail anchor space available near Northern Illinois University.
      2562 Sycamore Rd, Dekalb, IL 60115
      View Details
    • Contact for pricing

      DeKalb Retail/Bar Space Available

      Prime DeKalb location suitable for bar, retail, or entertainment.
      156 E Lincoln Hwy, Dekalb, IL 60115
      View Details
    • Contact for pricing
      9,797 SF

      DeKalb Retail Center - Lincoln Hwy

      High-traffic retail space, 3 units available
      1015 Lincoln Hwy, DeKalb, IL 60115
      View Details
    • Contact for pricing
      5,000 SF

      DeKalb Retail Space For Lease

      Prime Retail Build-to-Suit, High Traffic
      1127 Lincoln Hwy, DeKalb, IL 60115
      View Details
    • Contact for pricing
      281,977 SF

      DeKalb Industrial Space For Lease

      Large industrial space, multiple tenants possible.
      1900 Pleasant St, DeKalb, IL 60115
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    900 Greenbrier Rd
    DeKalb, IL 60115
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.