Quick Poll on Capitalization Rates

As a Chicago area realtor, I have been able to find well-maintained multi-unit apartment buildings with Capitalization Rates higher than 7%.

What types of non-Illinois multi-unit Cap Rates has everyone been seeing nationwide?

I recently spoke with an Midwest investor who has been finding 11%+ cap rate properties (one had a $150,000 NOI and $1.2mil asking price!). -- Some need a little work and better management but the potential is there and their low non-Illinois property taxes really help the bottom line..