918 Kimberly Drive

DeKalb, IL 60115

$595,200
Price
Beds
3
Baths
1
1/2 Bath
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Presenting an exceptional opportunity to acquire the 100% leased "DeKalb, IL Fraternity / Student Housing Portfolio," an 80-room housing investment within 1 mile to Northern Illinois University (NIU - the largest local industry and employer). Located in the heart of famous Greek Row this portfolio boasts an impressive 9% CAP rate with significant room for expansion by an additional 30 rooms. Positioned 65 miles west of Chicago and 38 miles southwest of Naperville, this asset features three well-maintained...Presenting an exceptional opportunity to acquire the 100% leased "DeKalb, IL Fraternity / Student Housing Portfolio," an 80-room housing investment within 1 mile to Northern Illinois University (NIU - the largest local industry and employer). Located in the heart of famous Greek Row this portfolio boasts an impressive 9% CAP rate with significant room for expansion by an additional 30 rooms. Positioned 65 miles west of Chicago and 38 miles southwest of Naperville, this asset features three well-maintained cinder block/brick buildings with a total of 80 rooms, 8 full baths, 4 half baths, commercial kitchens, and various communal areas including study, dining, conference, TV, workout, and recreation rooms. The buildings, with total land of approx. 1.62 acres and approx. 37,576 total sf., are within a one-minute walk from each other, offer great outdoor area and 80 parking spaces. This portfolio, in the most desirable pocket of Greek Row, is fully occupied with long-term tenants. It benefits from excellent public transportation and security, and is uniquely laid out to attract the Greek Life fraternity and sorority community. The self-managed properties, under the same ownership for the past 18 years, are ready for new management with a local company on standby. Recent upgrades include newer roofs, windows, most mechanicals, fire panels, and sprinkler systems. The properties are annually inspected and approved for occupancy. With light to moderate interior and amenity upgrades, there is a clear potential to boost rents and further enhance value. The strategic location offers high visibility and easy access, positioned across from an approved by City Council est. $16M new "Greek Life Center", slated for completion in 2028. This will further enhance the desirability of these properties. New 2024-27 leases project a 13% CAP rate, making this an outstanding investment in one of the Midwest's most popular student housing markets. The "DeKalb, IL Fraternity / Student Housing Portfolio" not only offers immediate returns but also a promising future with some potential value-add opportunities. Inquire with the listing broker for a copy of the offering memorandum. Don't miss this chance to invest in a high-performing, strategically located portfolio that anchors the historic and thriving Greek Life community at NIU.
  1. Listed by Iwona Filipiak • Berkshire Hathaway HomeServices Chicago

Property Details for 918 Kimberly Drive

Area
De Kalb
Township
DeKalb
Num of Interior Fireplaces
1
Zoning
MULTI
LISTING UPDATED: 08/17/2024 03:37 AM

Property Details for 918 Kimberly Drive

StatusActive
MLS #12126301
Days on Market250
Taxes$47,574 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Rooming House/Sro
Year Built1969
Lot Size0.28 AC / 12,226 SF
CountyDeKalb County

Building Information for 918 Kimberly Drive

Stories2Residences1Year Built1969Building Size-Lot Size0.28 AC / 12,226 SF

Property Information for 918 Kimberly Drive

General Information
Addtl Parking Information
  • Outdoor Parking: 19-30 Spaces,Fenced,Paved,Private Lot,Parking On-Site
Location and General Information
  • Frontage Type: City Street
  • Information: 24-Hr Notice Required,List Broker Must Accompany,Non-Disclosure Agreement,No Sign on Property,Highly Confidential,Leases Avaliable,Occupancy Perm Req,Profit & Loss Avalia
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Window Unit(s)
  • Electric: Circuit Breakers, Service - 201 to 600 Amps, Power - 120V
  • # Of Washers: 2
  • Basement Description: Finished, Sub-Basement, Exterior Access, Egress Window, Concrete Block, Concrete (Basement), Rec/Family Area, Storage Space, Walk-Up Access
  • Heat/Ventilation: Central Bldg Heat,Hot Water,Baseboard,Zoned
  • # Of Refrigerators: 3
  • Washer/Dryer Lsd: No
  • Misc Inside: Atrium,Common Exercise Room/s,Common Lunchroom/s,Common Meeting Room/s,Inside Corridor/s,Storage Inside,Laundry Room,Workshop Area (Interior)
  • # Of Dryers: 2
  • # Of Disposals: 0
  • # Of Dishwashers: 0
  • Num of Baths: 3.1
Exterior Features
  • Misc Outside: Balcony/ies,Courtyard,Enclosed Stairs,Fire Escape,Security System,Sun Deck
Utilities / Equipment
  • Utilities: Water-Municipal, Cable Available
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Common Area Maintenance, Varies by Tenant
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Rooming House/SRO
  • Lot Dimensions: 12,226 SF
  • Lot Size Square Feet: 12226.0
  • Stories: 2
  • Exterior Building Type: Brick
  • Construction: Brick
  • Roof Type: Composition
  • Fire Protection: Alarm Monitored,Alarm On Site,Fire Extinguisher/s,Smoke or Fire Protectors,Sprinklers-Wet,Sprinklers,Carbon Monoxide Detector(s)
  • Roof Structure: Gable
  • Foundation Details: Concrete Perimeter
  • Building Area Total: 9300
  • # Of Ranges: 1
  • Conversion: N
  • MRD_UNC: No
Property and Assessments
  • Possible Use: Office and Research, Multi-Family, Special Use
  • Buyer Financing: Conventional, Owner May Help/Assist, Cash, Negotiable
  • Public Document Count: 0
  • Photos Count: 12
  • Deconversion: N
Miscellaneous
  • Land Amenities: Lighting/Exterior,Security Entrance,Sidewalks,Cable Ready
  • Location: Public Transport Avail,Enterprise Zone,In City Limits
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 1
Income & Expenses
  • Electric Expense: $20,562.00
  • Fuel Expense: $20,562.00
  • Gross Income: $390,000.00
  • Gross Scheduled Income: $390,000.00
  • Insurance Expense: $30,000.00
  • Maintenance Expense: $12,993.00
  • Manager Expense: $18,655.00
  • Electric Expense Source: Combination
  • Known Encumbrances: First Mortgage
  • Expense Year: 2023
  • Total Annual Expense Source: Actual
  • Fuel Expense Source: Combination
  • Insurance Expense Source: Combination
  • Janitor Expense: 9327
  • Manager Expense Source: CO
  • Other Expense Source: Combination
  • Repairs-Decor Expense Source: Combination
  • Trash Expense Source: Combination
  • Total Monthly Income: 32500
  • Water Expense Source: Combination
  • Net Operating Income: $216,868.00
  • Operating Expense: $173,132.00
  • Other Expense: $6,000.00
  • Trash Expense: $7,100.00
  • Water Sewer Expense: $20,562.00
Unit 1
  • Unit Type Baths Total: 3
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 1
Unit 2
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 0
Unit 3
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 0
Unit 4
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 918 Kimberly Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 918 Kimberly Drive

Taxable ValueLand$16,259Additions$162,805Total$179,064
Tax Record2023$17,117 ($1,426 / month)
Home Facts
StyleMiscellaneous CommercialCountyDEKALBAPN08-15-177-002

Schools near 918 Kimberly Drive

This home is within Dekalb Community Unit School District 428.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Jefferson Elementary School
PublicK to 5

Clinton Rosette Middle School
Public6 to 8

De Kalb High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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918 Kimberly Drive is a multi-family home for sale in DeKalb, IL 60115. This property was listed for sale on July 31, 2024 by Berkshire Hathaway HomeServices Chicago, it's currently listed at $595,200. It has been on the market for a total of 250 days and was last sold on July 26, 2008. This listing's school district is Dekalb Community Unit School District 428. Nearby schools include Jefferson Elementary School, Clinton Rosette Middle School and De Kalb High School. 918 Kimberly Drive is a 0-bed, 3.5-bath, multi-family home built in 1969.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Berkshire Hathaway HomeServices Chicago

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 08/17/2024 03:37 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.