910 Hillcrest DrDeKalb, IL 60115

This exceptional investment opportunity presents a 1-unit apartment building in DeKalb, IL, ideally situated near Northern Illinois University (NIU). The property, built in 1969, boasts 13,170 square feet on a 0.57-acre lot and features 30 parking spaces. Currently 100% leased, this two-story building offers a strong 9.03% cap rate at an asking price of $842,880 ($64/sq ft). The property is zoned PD-R and has a ground lease expiring July 30, 2025. Recent upgrades include newer roofs, windows, mechanical systems, fire panels, and sprinkler systems. The building is annually inspected and approved for occupancy. Projected 2024-2027 leases indicate a potential 13% cap rate. The property's location across from a planned $16 million Greek Life Center (completion 2028) further enhances its desirability within the thriving NIU student housing market. While currently a single unit, the property has significant potential for expansion. Light to moderate interior and amenity upgrades could further boost rental income and property value. This is a self-managed property, with the same ownership for the past 18 years, and a local management company is available.