924 Greenbrier Rd, Dekalb, IL 60115

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$1,200,000
Active for Sale
Upcoming Open Houses
 Thursday June 20th 12:30pm to 2:00pm
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Listing ID 11266802
Property Type Multi-Unit (5+)
County DeKalb
Township DEKALB
Total Tax $15,351
Tax ID 08-15-152-004
FEMA Flood Map fema.gov/portal
Year Built 1968
Virtual Tour

Fully Occupied 24-Unit Multifamily Property For Sale DeKalb IL

**SHOWINGS: Thursday JUNE 20th 12:30-2** 924 Greenbrier is a fully occupied 24-unit multifamily property in DeKalb, IL, just north of Northern Illinois University and approximately 65 miles west of Chicago. The building, which the City of DeKalb has designated as a rooming house, has 24 one-room units-twelve on each floor-along with a 3-stall, 3-shower community bathroom on each level and a half bathroom on the first floor. It includes communal living and eating areas, a commercial kitchen that meets code requirements, and a dining area. Fully licensed through August 2024 with no outstanding building code violations, this property has significant upside potential after its recent transition from student housing to affordable, all-inclusive market-rate rentals. Constructed with brick and block flexicore, this two-story building has a gabled, shingled roof, replaced about ten years ago, and a newly installed, efficient gas-powered radiant floor heating system as of February 2024. Fully equipped with sprinklers, it offers excellent sound insulation between units and floors, in addition to reduced insurance rates. The property as well as a professionally installed, monitored fire alarm system. The parking lot is in good condition, having been recently patched, slurry coated, and re-striped, with numbered assigned parking spaces. Ideally located just north of Northern Illinois University, it benefits from the rental demand of both students and local residents. DeKalb's economic drivers, including Northwestern Medicine, General Electric, Monsanto, 3M, Nestlé, and Ferrara Candy Company, along with its status as a satellite city to Chicago, make it a solid investment.
Property Details
  • 2 Full Baths
  • 1 Half Bath
  • 9240 SF
  • 0.62 Acres
  • Built in 1968
  • 2 Stories
  • Available 4/07/2024
  • Slab Basement
Interior Features
  • Ceramic Tile Flooring
  • Vinyl Flooring
  • Alarm System
  • Fire Sprinklers
  • Forced Air
  • Radiant
  • Gas Fuel
  • Natural Gas Avail
Exterior Features
  • Masonry - Concrete Block Construction
  • Brick Siding
  • Vinyl Siding
  • Asphalt Shingles Roof
  • Municipal Water
  • Municipal Sewer
  • Near Bus
Community Details
  • Low-rise (Bldg. Style)
Commercial Info
  • 8% Cap. Rate
Income/Expenses
  • Gross Income $132,600
  • Net Income $92,168
  • Operating Exp $40,432
  • Management Exp $3,500
  • Maintainence Exp $3,800
  • Insurance Exp $4,641
  • Heat Exp $3,528
  • Electric Exp $1,547
  • Water Exp $1,232
  • Misc Exp $3,509
  • Paid by Landlord: Electric, Heat, Gas, Water, HVAC, Cleaning, Insurance, Parking, Ord. Maint., Struct. Maint., Ground Maint.
Taxes and Fees
  • $15,351 Total Tax
  • Tax Year 2022
Listed By
eXp Commercial
Office: 630-474-6441
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