1020 W Hillcrest Drive, DeKalb, IL, 60115

Save
Ask
Tour
Hide
Share
$1,150,000
98 Days On Site

1020 W Hillcrest Drive
DeKalb, IL 60115

For Sale|Multi Family|Active
0
Beds
0
Full Baths
0
Partial Baths
14,700
SqFt
$78
/SqFt
1969
Built
County:
DeKalb
Listing Courtesy of MRED as distributed by MLS Grid of Berkshire Hathaway HomeServices Chicago

Due to the health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.

Call Now: 815-895-2789
Is this the home for you? We can help make it yours.
815-895-2789
1020 W Hillcrest Drive1020 W Hillcrest Drive1020 W Hillcrest Drive1020 W Hillcrest Drive
Save
Ask
Tour
Hide
Share

Presenting an exceptional opportunity to acquire fully leased "Greek Life Flagship Fraternity House," a 30-room housing investment within 1 mile to Northern Illinois University in DeKalb, IL (NIU - the largest local industry and employer). Located in the heart of famous Greek Row this flagship roaming house boasts an impressive 8 CAP. Additional 3 buildings with 20-80 rooms are available to make the new owner a high value player in this local, desirable, fraternity housing space. Positioned 65 miles west of Chicago and 38 miles southwest of Naperville, this asset features one well-maintained cinder block/brick building with a total of 30 rooms, 3 full baths, commercial kitchen, and various communal areas including meeting, study, dining, conference, TV, workout, and recreation rooms. The building, with total land of approx. 0.65 acres and approx. 14,700 total sf., offers great outdoor area with spacious deck and 22 parking spaces. This building, in the most desirable pocket of Greek Row, is fully occupied with long-term tenants (same tenant for the last 10 years with a new 6 year lease in place). It benefits from excellent public transportation and security, and is uniquely laid out to attract the Greek Life fraternity and sorority community. Under the same ownership for the past 10 years, with minimal involvement of the owners as the building comes with professional management in place! Sit back and collect rent on this passive investment! Recent upgrades include newer boiler, fire panels, and sprinkler systems. The property is 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 this property. With long term tenants in place, this is an outstanding, investment in one of the Midwest's most popular student housing markets. The "Greek Life Fraternity Flagship House" 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 asset that anchors the historic and thriving Greek Life community at NIU.

Save
Ask
Tour
Hide
Share
Listing Snapshot
Price 
$1,150,000
Days On Site 
98 Days
Bedrooms 
N/A
Inside Area (SqFt) 
14,700 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.65 Acres
Year Built 
1969
MLS® Number 
12126028
Status 
Active
Property Tax 
$18,958
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
a month agoStatus changed to Active
2 months agoPrice changed to $1,150,000
3 months agoListing first seen online
3 months agoListing updated with changes from the MLS®
General Features
Acres 
0.65
Additional Property Use 
Multi-Family
Foundation 
Concrete Perimeter
Number Of Stories 
3
Property Sub Type 
Multi Family
SqFt Total 
14700
Utilities 
Cable Available
Water Source 
Public
Zoning 
MULTI
Interior Features
Basement 
Finished
Cooling 
Window Unit(s)
Electric 
Circuit Breakers
Fireplace 
Yes
Fireplaces 
1
Save
Ask
Tour
Hide
Share
Exterior Features
Construction Details 
Block
Roof 
Composition
Community Features
MLS Area 
De Kalb
Township 
DeKalb
Listing Courtesy of MRED as distributed by MLS Grid of Berkshire Hathaway HomeServices Chicago



Based on information submitted to the MLS GRID as of 2024-10-30 12:00 AM UTC. 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.
Data last updated: 2024-10-30 12:00 AM UTC
MRED DMCA Copyright Information Copyright © 2024 Midwest Real Estate Data LLC. All rights reserved.

Neighborhood & Commute
Source: Walkscore
Community information and market data Powered by ATTOM Data Solutions. Copyright ©2019 ATTOM Data Solutions. Information is deemed reliable but not guaranteed.
Save
Ask
Tour
Hide
Share