102-106 E Schoolhouse Rd
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102-106 E Schoolhouse Rd
14 Unit Apartment Building $1,200,000 ($85,714/Unit) 8.97% Cap Rate Yorkville, IL 60560
Investment Highlights
- Fully leased office/retail units on main level
- High exposure location on Schoolhouse Rd adjacent to Yorkville Intermediate School and Grade School
- Six fully leased apartments on second floor
- Easy access with ample parking on both sides of building
Executive Summary
Fully leased 12,000 SF multi-tenant building in Yorkville! 8 office/retail units comprises the first floor including a new five-year lease to a child daycare occupying 3,150 SF. The second floor consists of six fully leased apartments: 2 one-bedroom units and 4 two-bedroom units. Units are spacious, mostly updated, and very easy to rent. All but one unit has a balcony. Coin operated laundry and storage lockers are located on the main level. All tenants in the building are on year-to-year leases or longer; many of whom have been leasing their unit for 4 years or greater. Contact agent for rent roll details including tenants, lease rates, expenses, etc. Major improvements completed in 2024: complete tear off and replacement of roof, 2 furnaces, 1 new A/C, new flooring and paint in daycare. On site is a fenced playground for the daycare, 2 car garage with attached storage space, two additional storage sheds, as well as a large green space that could be utilized for future development or expanded parking.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$19,085
|
$1.59
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$19,085
|
$1.59
|
Financial Summary (Actual - 2023)
| Taxes | |
|---|---|
| Annual | $19,085 |
| Annual Per SF | $1.59 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $19,085 |
| Annual Per SF | $1.59 |
Property Facts Under Contract
| Price | $1,200,000 | Apartment Style | Low Rise |
| Price Per Unit | $85,714 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.06 AC |
| Cap Rate | 8.97% | Building Size | 12,000 SF |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment |
| Price | $1,200,000 |
| Price Per Unit | $85,714 |
| Sale Type | Investment |
| Cap Rate | 8.97% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.06 AC |
| Building Size | 12,000 SF |
| No. Stories | 2 |
| Year Built | 1970 |
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- Playground
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $461,517 | |
| Land Assessment | $102,289 | Annual Taxes | $19,085 ($1.59/SF) |
| Improvements Assessment | $359,228 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$102,289
Improvements Assessment
$359,228
Total Assessment
$461,517
Annual Taxes
$19,085 ($1.59/SF)
Tax Year
2023
zoning
| Zoning Code | B-2 (Commercial) |
| B-2 (Commercial) |
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102-106 E Schoolhouse Rd
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