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910 W Hillcrest Dr 13,170 SF Specialty Building Offered at $850,000 at a 11.06% Cap Rate in Dekalb, IL 60115
Executive Summary
Located in the heart of NIU’s Greek Row, 910 W Hillcrest presents a proven, long-term fraternity investment with over 20 years of continuous occupancy by Phi Kappa Theta—highlighting exceptional tenant stability and demand.
This 2-story masonry building with an English basement includes approximately 30 rooms, multiple communal bathrooms, chapter and meeting rooms, study spaces, and a commercial kitchen. The layout is specifically designed to support fraternity operations and long-term tenancy.
The property will be leased under a net lease structure with 100% occupancy beginning 2025, providing consistent income with limited management responsibilities. Recent upgrades include a new tear-off roof (2024), fire suppression systems, and security cameras, ensuring compliance and operational efficiency.
Outdoor features such as a sand volleyball court, recreation areas, and a 32-car parking lot enhance tenant retention and overall asset desirability.
This 2-story masonry building with an English basement includes approximately 30 rooms, multiple communal bathrooms, chapter and meeting rooms, study spaces, and a commercial kitchen. The layout is specifically designed to support fraternity operations and long-term tenancy.
The property will be leased under a net lease structure with 100% occupancy beginning 2025, providing consistent income with limited management responsibilities. Recent upgrades include a new tear-off roof (2024), fire suppression systems, and security cameras, ensuring compliance and operational efficiency.
Outdoor features such as a sand volleyball court, recreation areas, and a 32-car parking lot enhance tenant retention and overall asset desirability.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$94,000
|
$7.14
|
Financial Summary (Pro Forma - 2026)
| 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 | $94,000 |
| Annual Per SF | $7.14 |
Property Facts
| Price | $850,000 | Building Class | C |
| Price Per SF | $64.54 | Lot Size | 0.58 AC |
| Sale Type | Investment | Building Size | 13,170 SF |
| Cap Rate | 11.06% | No. Stories | 2 |
| Property Type | Specialty | Year Built | 1966 |
| Property Subtype | Sorority/Fraternity House | Opportunity Zone |
Yes
|
| Zoning | RM - Fraternity and sorority houses | ||
| Price | $850,000 |
| Price Per SF | $64.54 |
| Sale Type | Investment |
| Cap Rate | 11.06% |
| Property Type | Specialty |
| Property Subtype | Sorority/Fraternity House |
| Building Class | C |
| Lot Size | 0.58 AC |
| Building Size | 13,170 SF |
| No. Stories | 2 |
| Year Built | 1966 |
| Opportunity Zone |
Yes |
| Zoning | RM - Fraternity and sorority houses |
1 1
Fairly walkable
40/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 08-15-178-004 | Improvements Assessment | $107,770 (2024) |
| Land Assessment | $41,819 (2024) | Total Assessment | $149,589 (2024) |
Property Taxes
Parcel Number
08-15-178-004
Land Assessment
$41,819 (2024)
Improvements Assessment
$107,770 (2024)
Total Assessment
$149,589 (2024)
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910 W Hillcrest Dr
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