Download App
← Calculators

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

Browse calculators by state

Property Details

Operating Expenses(Illinois defaults)

Total Annual Expenses$13,680

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 PriceFL Probate Law – Property Tax Rates (ACS Data)The Hartford – Insurance RatesiPropertyManagement – 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%
CAP RATE3.7%
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.

Calculate

NOI

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

Calculate

Gross Rent Multiplier

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

Calculate

Want to analyze a full deal with comps, rehab estimates, and flip projections?

Download Frontflip
Get Frontflip for iOS
AI for real estate investment research