Illinois Cap Rate Calculator

Calculate cap rates using Illinois market data. Property tax, insurance, vacancy rates, and other defaults are pre-filled with current Illinois averages. Net Operating Income ÷ Property Price

Market

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Property Details

Property Price

Annual Gross Rental Income

Operating Expenses(Illinois defaults)

Total Annual Expenses$13,680

Property Tax(1.79% avg in IL)

Insurance($2,174 avg in IL)

Maintenance & Repairs

Management Fee(8% of rent)

Vacancy Rate($1,581/yr)

Illinois Market Context

Avg Cap Rate

6.5%

Median Price

$286K

Property Tax

1.79%

Vacancy Rate

6.5%

Local Factors

-Second-highest property tax rate in the nation significantly impacts investor returns
-Chicago provides strong rental demand but has complex landlord-tenant regulations
-Population outmigration trend creates risk in downstate markets

Sources

World Population Review – Median Home Price FL Probate Law – Property Tax Rates (ACS Data)The Hartford – Insurance Rates iPropertyManagement – Vacancy Rates

Cap Rate

3.7%

Low

Net Operating Income$10,644

Gross Income$24,324

Total Expenses$13,680

Illinois Avg Cap Rate6.5%

NOI$10,644

Property Tax$5,119

Insurance$2,174

Maintenance$2,860

Management$1,946

Vacancy$1,581

What does this mean?

A cap rate below 4% is typical for premium locations with lower risk but limited cash flow. Common in Class A properties in major metros.

Keep running the numbers

One calculator rarely tells the whole story.

Cap rate tells you the return without financing. Now see what happens when you add a mortgage with Illinois rates.

Cash on Cash Return

Measure the annual return on your actual cash invested, factoring in financing, expenses, and rental income.

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NOI

Calculate Net Operating Income — the foundation of commercial real estate valuation.

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Gross Rent Multiplier

Quickly screen and compare rental properties by how many years of gross income cover the purchase price.

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