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1020 W Hillcrest Dr 14,700 SF Specialty Building Offered at $1,250,000 at a 9.60% Cap Rate in Dekalb, IL 60115
Executive Summary
Corporate Net-Leased Fraternity Asset | 6+ Years Remaining | 17-Year Occupancy History
1020 W Hillcrest represents the premier asset within NIU’s Greek Row, offering a true passive investment backed by a nationally affiliated fraternity under a corporate-supported net lease.
The property is 100% occupied with approximately six years remaining on the lease (through May 2030) and a proven 17+ year operating history with the same tenant, delivering exceptional income stability.
The building includes approximately 30 rooms and extensive communal infrastructure, including chapter rooms, study areas, dining facilities, recreation spaces, and a commercial kitchen—fully supporting fraternity operations.
Recent improvements include fire suppression systems and security upgrades, ensuring compliance with current safety standards.
Additional features include a large outdoor deck and 22-car parking lot, enhancing tenant satisfaction and long-term retention.
Located within walking distance to NIU and near the future $16M Greek Life Center, this asset is positioned to benefit from continued institutional investment and sustained demand.
1020 W Hillcrest represents the premier asset within NIU’s Greek Row, offering a true passive investment backed by a nationally affiliated fraternity under a corporate-supported net lease.
The property is 100% occupied with approximately six years remaining on the lease (through May 2030) and a proven 17+ year operating history with the same tenant, delivering exceptional income stability.
The building includes approximately 30 rooms and extensive communal infrastructure, including chapter rooms, study areas, dining facilities, recreation spaces, and a commercial kitchen—fully supporting fraternity operations.
Recent improvements include fire suppression systems and security upgrades, ensuring compliance with current safety standards.
Additional features include a large outdoor deck and 22-car parking lot, enhancing tenant satisfaction and long-term retention.
Located within walking distance to NIU and near the future $16M Greek Life Center, this asset is positioned to benefit from continued institutional investment and sustained demand.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$120,000
|
$8.16
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $120,000 |
| Annual Per SF | $8.16 |
Property Facts
| Price | $1,250,000 | Lot Size | 0.65 AC |
| Price Per SF | $85.03 | Building Size | 14,700 SF |
| Sale Type | Investment | No. Stories | 3 |
| Cap Rate | 9.60% | Year Built | 1966 |
| Property Type | Specialty | Parking Ratio | 1.43/1,000 SF |
| Property Subtype | Sorority/Fraternity House | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | RM - Fraternity and sorority houses | ||
| Price | $1,250,000 |
| Price Per SF | $85.03 |
| Sale Type | Investment |
| Cap Rate | 9.60% |
| Property Type | Specialty |
| Property Subtype | Sorority/Fraternity House |
| Building Class | C |
| Lot Size | 0.65 AC |
| Building Size | 14,700 SF |
| No. Stories | 3 |
| Year Built | 1966 |
| Parking Ratio | 1.43/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM - Fraternity and sorority houses |
Amenities
- Controlled Access
- Property Manager on Site
- Air Conditioning
- Smoke Detector
1 1
Fairly walkable
40/100
Moderately drivable
70/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 08-15-178-001 | Improvements Assessment | $180,400 (2024) |
| Land Assessment | $47,061 (2024) | Total Assessment | $227,461 (2024) |
Property Taxes
Parcel Number
08-15-178-001
Land Assessment
$47,061 (2024)
Improvements Assessment
$180,400 (2024)
Total Assessment
$227,461 (2024)
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1020 W Hillcrest Dr
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