Recently Viewed Properties
See This Home
Save This Listing
Close

View All Photos

$645,000 Just Listed

  • For Sale
  • Active
  • Commercial
  • Updated 11 hours ago
See This Home
Save This Home
See This Home
Save This Home
Turnkey investment opportunity just steps from Northern Illinois University and downtown DeKalb! This well-positioned property at 532-534 College Ave features a 16 unit rooming house plus two 1-bedroom units and one 2-bedroom unit, offering a strong and flexible income stream with housing hack potential! Located in a highly walkable area, tenants enjoy immediate access to NIU campus, Lincoln Hwy dining and retail, parks, and public transit-supporting consistent occupancy and strong rental demand. The property is fully leased with a proven rent roll and generates approximately $97,000+ in potential income and ~$53,000+ NOI, delivering an estimated ~8.1 cap rate. Multiple income streams, stable performance, and upside potential make this a compelling addition to any investment portfolio.

Full Property Details for 532 - 534 College Ave

General

  • Price: $645,000
  • HOA FEE: $13,054
  • Taxes: $11,169 (2024)
  • Status: Active
  • Type: Commercial
  • Source: MRED
  • MLS ID: 12634820
  • Updated: 4/30/2026
  • Added to Site: 1 day(s) ago

Location

  • Area: De Kalb
  • County: DeKalb
  • Township: DeKalb
  • Driving Directions: 1st Street To Locust To College to unit

Heating & Cooling

  • Heating Type: Forced Air, Gas

Utilities

  • Trash: 1320

Structural Information

  • Stories/Levels: 2
  • Year Built: 1900
  • Built Before 1978: Yes

Lot Features

  • Lot Dimensions: 40 x 285 x 80 x 15040145
  • Zoning: MULTI

Financial Considerations

  • Maint. Fee: $13,054
  • Insurance Fee: $4,242
  • Operating Expenses: $66,364
  • Other Fee: $6,925
  • Assessment Year: 1900
  • Tax Amount: $11,169.24
  • Tax Year: 2024
  • Tenant Pays: None
  • Pays Electric: 2355
  • Pays Trash: 1320

Disclosures and Reports

  • Property ID: 822251026

Listed by 815 Property

Quickly Find Out More

* Indicates a required field

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Send Message, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If an Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby’s International Realty®). I acknowledge that I have read and agree to the Terms of Use and Privacy Notice.

We Value Your Privacy

Listing agent

— 532 - 534 College Ave —

  • 815 Property

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Get a Great Insurance Rate

Find the right home insurance for your new home!

with our affiliated in-house agency

Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Find the right home insurance for your new home!

with our affiliated in-house agency

Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 532 - 534 College Ave

School District:Dekalb Community Unit School District 428
NameGradesDistance
Littlejohn Elementary School
1121 School Street, DeKalb, IL 60115
K-51.2 mi
Clinton Rosette Middle School
650 North 1st Street, DeKalb, IL 60115
6-80.7 mi
De Kalb High School
501 West Dresser Road, DeKalb, IL 60115
9-121.5 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 532 - 534 College Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
4/30/2026
Listed
$645,000
-24.12%
MLS
6/28/2022
Sold
$850,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 532 - 534 College Ave

Year
Property Taxes
Change
Tax Assessment
Change
2024
$11,169
-3%
$153,529
10%
2023
$11,506
—
$140,196
15%
2023
$11,506
-1%
$122,239
17%
2021
$11,583
-2%
$104,673
2%
2020
$11,845
2%
$103,005
4%
2019
$11,612
2%
$98,957
4%
2018
$11,339
-1%
$95,601
4%
2017
$11,446
1%
$91,897
3%
2016
$11,320
4%
$89,577
10%
2015
$10,837
—
$81,505
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost for 532 - 534 College Ave

$
Down Payment
%
$
%

$
$

*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Listed by 815 Property

Similar Properties near 532 - 534 College Ave

This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.

918 Kimberly Dr, Dekalb, IL 60115 - Photo 1
$650,000

918 Kimberly Dr  Dekalb, IL 60115

  • Commercial
  • Active

Just Listed near 532 - 534 College Ave

This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.

34 W Meadow Dr, Cortland, IL 60112 - Photo 1 Just Listed
$414,900

34 W Meadow Dr  Cortland, IL 60112

  • Single Family
  • Active
  • Updated 2 days ago
  • 4
    Beds
  • 3
    Total Baths
  • 2,330
    Sq. Ft.
1718 Ellsworth Dr, Sycamore, IL 60178 - Photo 1 Just Listed
$48,500

1718 Ellsworth Dr  Sycamore, IL 60178

  • Lots/Land
  • Active
  • Updated 1 day ago
  • 0.48
    Acres
Listed by The Kelly Schmidt Group (630) 377-1771
629 Buckboard Ln, Sycamore, IL 60178 - Photo 1 Just Listed
$279,500

629 Buckboard Ln  Sycamore, IL 60178

  • Townhouse
  • Active
  • Updated 2 hours ago
  • 2
    Beds
  • 3
    Total Baths
  • 1,706
    Sq. Ft.
412 W High St, Sycamore, IL 60178 - Photo 1 Just Listed
$275,000

412 W High St  Sycamore, IL 60178

  • Multi-Family
  • Active
  • Updated 10 hours ago
  • 3
    Total Beds

Price Reduced near 532 - 534 College Ave

This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.

405 Thomas Dr, Sycamore, IL 60178 - Photo 1 Price Reduced
-$90,000 (-20.93%)
$340,000

405 Thomas Dr  Sycamore, IL 60178

  • Single Family
  • Active
  • Updated 2 days ago
  • 3
    Beds
  • 3
    Total Baths
  • 1,406
    Sq. Ft.
533 Bethany Rd, Sycamore, IL 60178 - Photo 1 Price Reduced
-$2,900 (-0.73%)
$392,000

533 Bethany Rd  Sycamore, IL 60178

  • Single Family
  • Active
  • Updated 5 hours ago
  • 3
    Beds
  • 3
    Total Baths
  • 1,684
    Sq. Ft.
2315 Hickory Ln, Sycamore, IL 60178 - Photo 1 Price Reduced
-$2,400 (-6.88%)
$32,500

2315 Hickory Ln  Sycamore, IL 60178

  • Mobile Home
  • Active
  • Updated 3 days ago
  • 2
    Beds
  • 1
    Total Bath
425 W State St, Sycamore, IL 60178 - Photo 1 Price Reduced
-$25,000 (-4.55%)
$525,000

425 W State St  Sycamore, IL 60178

  • Commercial
  • Active
  • Updated 3 hours ago
  • 25,500
    Sq. Ft.

Recent Sales near 532 - 534 College Ave

This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.

528 College Ave, Dekalb, IL 60115 - Photo 1 Sold
$595,000

528 College Ave  Dekalb, IL 60115

  • Commercial
  • Closed
295 Larking Ave, Dekalb, IL 60115 - Photo 1 Sold
$555,500

295 Larking Ave  Dekalb, IL 60115

  • Single Family
  • Closed
  • 4
    Beds
  • 4
    Total Baths
  • 5,636
    Sq. Ft.
740 W State St, Sycamore, IL 60178 - Photo 1 Sold
$685,000

740 W State St  Sycamore, IL 60178

  • Single Family
  • Closed
  • 5
    Beds
  • 3
    Total Baths
  • 4,913
    Sq. Ft.
1119 Parkside Dr, Sycamore, IL 60178 - Photo 1 Sold
$571,325

1119 Parkside Dr  Sycamore, IL 60178

  • Single Family
  • Closed
  • 3
    Beds
  • 3
    Total Baths
  • 2,432
    Sq. Ft.

532 - 534 College Avenue, Dekalb, IL 60115 (MLS# 12634820) is a Commercial property. 532 - 534 College Avenue is currently listed for $645,000 and was received on April 30, 2026. Want to learn more about 532 - 534 College Avenue? Do you have questions about finding other Commercial real estate for sale in Dekalb? You can browse all Dekalb real estate or contact a Coldwell Banker agent to request more information.

Tour this property