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Est. payment | /mo
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Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12549621
Year Built 1969
Annual Tax Amount $18,417
Tax Year 2024
Lot Dimensions 209X231X236
Property Sub-Type Multi Family 5+
Property Description
Well-maintained Greek Life student housing property located in the heart of DeKalb's established Greek Row, just minutes from Northern Illinois University. This flagship fraternity residence offers approximately 30 rooms, three full bathrooms, and a commercial-grade kitchen designed to support long-term institutional occupancy. The building includes extensive communal and operational spaces, including meeting and chapter rooms, study and dining areas, TV lounge, workout facilities, and recreation rooms. Exterior amenities feature a large deck, outdoor common areas, and approximately 22 on-site parking spaces. The property is fully occupied by a nationally affiliated fraternity that has maintained continuous occupancy for approximately 17 years. The lease is supported by a corporate-backed guaranty extending through May 31, 2030. Recent capital improvements include a new fire suppression system and security camera system. This is a stable, income-producing asset located in a high-demand student housing submarket with strong barriers to entry and long-term institutional support from Northern Illinois University.
Location
State IL
County Dekalb
Area De Kalb
Rooms
Basement Unfinished, Bath/Stubbed, Block, Rec/Family Area
Interior
Cooling Central Air
Fireplace N
Building
Dwelling Type Multi Family 5+
Structure Type Brick
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Listed by Ariel Marini of Berkshire Hathaway HomeServices Chicago
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