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26196-26198 W Spring Grove Rd 8 Unit Apartment Building $895,000 ($111,875/Unit) 8.40% Cap Rate Antioch, IL 60002
Investment Highlights
- Rare Lakefront multifamily zoning
- Value add upside to rent
- Long term tenant base
Executive Summary
Rare 8-unit Channel Lake multifamily asset with stable in-place income, proven occupancy, and embedded upside from below-market rents and irreplaceable lakefront frontage. Long-term tenancy and conservative rent growth support durability and future upside. Offered at an attractive basis relative to both cash flow and underlying waterfront land value.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$105,360
|
$6.17
|
| Other Income |
$2,940
|
$0.17
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$108,300
|
$6.34
|
| Taxes |
$17,672
|
$1.03
|
| Operating Expenses |
$15,273
|
$0.89
|
| Total Expenses |
$32,945
|
$1.93
|
| Net Operating Income |
$75,355
|
$4.41
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $105,360 |
| Annual Per SF | $6.17 |
| Other Income | |
|---|---|
| Annual | $2,940 |
| Annual Per SF | $0.17 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $108,300 |
| Annual Per SF | $6.34 |
| Taxes | |
|---|---|
| Annual | $17,672 |
| Annual Per SF | $1.03 |
| Operating Expenses | |
|---|---|
| Annual | $15,273 |
| Annual Per SF | $0.89 |
| Total Expenses | |
|---|---|
| Annual | $32,945 |
| Annual Per SF | $1.93 |
| Net Operating Income | |
|---|---|
| Annual | $75,355 |
| Annual Per SF | $4.41 |
Property Facts
| Price | $895,000 | Apartment Style | Low-Rise |
| Price Per Unit | $111,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 8.40% | Building Size | 17,080 SF |
| Gross Rent Multiplier | 8.26 | No. Stories | 1 |
| No. Units | 8 | Year Built | 1945 |
| Property Type | Multifamily | Parking Ratio | 2.16/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | N/Av | ||
| Price | $895,000 |
| Price Per Unit | $111,875 |
| Sale Type | Investment |
| Cap Rate | 8.40% |
| Gross Rent Multiplier | 8.26 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 17,080 SF |
| No. Stories | 1 |
| Year Built | 1945 |
| Parking Ratio | 2.16/1,000 SF |
| Zoning | N/Av |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $1,153 | - |
| 3+1 | 2 | $1,380 | - |
| 1+1 | 4 | $785.00 | - |
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 01-11-406-023 | Total Assessment | $107,630 |
| Land Assessment | $29,651 | Annual Taxes | $17,672 ($1.03/SF) |
| Improvements Assessment | $77,979 | Tax Year | 2025 |
Property Taxes
Parcel Number
01-11-406-023
Land Assessment
$29,651
Improvements Assessment
$77,979
Total Assessment
$107,630
Annual Taxes
$17,672 ($1.03/SF)
Tax Year
2025
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26196-26198 W Spring Grove Rd
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