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536 Schroeder Ave 6 Unit Apartment Building $775,000 ($129,167/Unit) 6.72% Cap Rate Peotone, IL 60468
Investment Highlights
- Three units full rehabbed
- The location offers residents quick and convenient access to I-57 and Route 50
Executive Summary
Outstanding opportunity to start or add to your investment portfolio! 6 unit building in the quiet and conveniently located town of Peotone. All units are 2 Bedroom and 1 Bath. Three of the units are fully remodeled featuring new kitchens, new bathrooms and new LVP flooring throughout. One unit has all new flooring. The building has a central boiler and one hot water tank. Complete tear off of the entire roof and structure 2023. Fully leased, great value and potential to add opportunity. There is a fully remodeled common laundry area for the tenants, and plenty of parking. The location offers residents quick and convenient access to I-57 and Route 50.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$84,000
|
$11.20
|
| Other Income |
$7,000
|
$0.93
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$91,000
|
$12.13
|
| Taxes |
$10,232
|
$1.36
|
| Operating Expenses |
$21,923
|
$2.92
|
| Total Expenses |
$32,155
|
$4.29
|
| Net Operating Income |
$58,845
|
$7.85
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $84,000 |
| Annual Per SF | $11.20 |
| Other Income | |
|---|---|
| Annual | $7,000 |
| Annual Per SF | $0.93 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $91,000 |
| Annual Per SF | $12.13 |
| Taxes | |
|---|---|
| Annual | $10,232 |
| Annual Per SF | $1.36 |
| Operating Expenses | |
|---|---|
| Annual | $21,923 |
| Annual Per SF | $2.92 |
| Total Expenses | |
|---|---|
| Annual | $32,155 |
| Annual Per SF | $4.29 |
| Net Operating Income | |
|---|---|
| Annual | $58,845 |
| Annual Per SF | $7.85 |
Property Facts
| Price | $775,000 | Apartment Style | Low-Rise |
| Price Per Unit | $129,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.31 AC |
| Cap Rate | 6.72% | Building Size | 7,500 SF |
| Sale Condition | High Vacancy Property | Average Occupancy | 85% |
| Gross Rent Multiplier | 8.51 | No. Stories | 2 |
| No. Units | 6 | Year Built/Renovated | 1975/2025 |
| Property Type | Multifamily | Parking Ratio | 1.33/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | Residential - Each unit has it's own tax pin. | ||
| Price | $775,000 |
| Price Per Unit | $129,167 |
| Sale Type | Investment |
| Cap Rate | 6.72% |
| Sale Condition | High Vacancy Property |
| Gross Rent Multiplier | 8.51 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 7,500 SF |
| Average Occupancy | 85% |
| No. Stories | 2 |
| Year Built/Renovated | 1975/2025 |
| Parking Ratio | 1.33/1,000 SF |
| Zoning | Residential - Each unit has it's own tax pin. |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Trash Pickup - Curbside
- Storage Space
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | $1,175 | 850 |
Property Taxes
| Parcel Number | 17-20-24-411-012-1001 | Total Assessment | $28,017 (2024) |
| Land Assessment | $5,010 (2024) | Annual Taxes | $10,232 ($1.36/SF) |
| Improvements Assessment | $23,007 (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
17-20-24-411-012-1001
Land Assessment
$5,010 (2024)
Improvements Assessment
$23,007 (2024)
Total Assessment
$28,017 (2024)
Annual Taxes
$10,232 ($1.36/SF)
Tax Year
2025
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536 Schroeder Ave
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