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918 Kimberly Dr 9,300 SF Specialty Building Offered at $650,000 at a 11.15% Cap Rate in Dekalb, IL 60115
Executive Summary
918 Kimberly Dr offers a unique opportunity to acquire a sorority-leased property in the highly sought-after NIU Greek housing market, where supply remains limited and demand continues to grow.
This 2-story masonry building with an English basement features approximately 20 rooms and is configured to support sorority operations, including communal bathrooms, chapter rooms, study areas, dining facilities, and a commercial kitchen.
The property is secured under a net lease with a new sorority tenant commencing Fall 2025, positioning the asset for stabilization and future income growth. Recent improvements include a new roof (2024), fire suppression system, and security systems, minimizing near-term capital needs.
The site also includes a 16-car parking lot, providing added convenience for residents and strengthening leasing appeal.
This 2-story masonry building with an English basement features approximately 20 rooms and is configured to support sorority operations, including communal bathrooms, chapter rooms, study areas, dining facilities, and a commercial kitchen.
The property is secured under a net lease with a new sorority tenant commencing Fall 2025, positioning the asset for stabilization and future income growth. Recent improvements include a new roof (2024), fire suppression system, and security systems, minimizing near-term capital needs.
The site also includes a 16-car parking lot, providing added convenience for residents and strengthening leasing appeal.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$72,000
|
$7.74
|
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 | $72,000 |
| Annual Per SF | $7.74 |
Property Facts
| Price | $650,000 | Lot Size | 0.28 AC |
| Price Per SF | $69.89 | Building Size | 9,300 SF |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 11.15% | Year Built | 1960 |
| Property Type | Specialty | Parking Ratio | 1.72/1,000 SF |
| Property Subtype | Sorority/Fraternity House | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | RM - Fraternity and sorority houses | ||
| Price | $650,000 |
| Price Per SF | $69.89 |
| Sale Type | Investment |
| Cap Rate | 11.15% |
| Property Type | Specialty |
| Property Subtype | Sorority/Fraternity House |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 9,300 SF |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 1.72/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM - Fraternity and sorority houses |
1 1
Fairly walkable
40/100
Moderately drivable
70/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 08-15-177-002 | Improvements Assessment | $186,721 (2024) |
| Land Assessment | $18,647 (2024) | Total Assessment | $205,368 (2024) |
Property Taxes
Parcel Number
08-15-177-002
Land Assessment
$18,647 (2024)
Improvements Assessment
$186,721 (2024)
Total Assessment
$205,368 (2024)
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918 Kimberly Dr
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