Multi Family Investment I Add Value I Niles, IL
$899,900
8047 W Foster Ln, Niles, IL 60714
4,029 sqft
Building Size
0.2227 acres
Lot Area
Details:
Highlights:
- 100% Occupied with stable rental income
- Family-Owned & Meticulously Maintained for over 43 years
- Tenants Pay Electric, reducing landlord operating expenses
- On-Site Coin Laundry provides additional income
- New Boiler Installed in 2024
- Roof Professionally Seal-Coated Every Three Years
Description:
Well-maintained multifamily investment opportunity in desirable Niles, located on a quiet cul-de-sac adjacent to a public park. The property features four (4) 1-bedroom/1-bath units and one (1) 3-bedroom/2-bath unit, approximately 8.5 off-street parking spaces, coin laundry, tenant-paid electric, and a new furnace installed in 2024. Long-term ownership with strong rental history and rental upside. Seller is currently renting/operating the property as six (6) units. Seller and listing broker make no representation regarding the legality or permitted status of the sixth unit. Buyer to perform their own due diligence with the Village of Niles regarding zoning, use, occupancy, unit count, and code compliance. Ownership has meticulously maintained the property for over 43 years, completing routine capital improvements including a new furnace in 2024 and regularly seal-coating the roof every three years. Additional amenities include approximately 8.5 off-street parking spaces, on-site coin laundry providing supplemental income, and tenant-paid electric, helping to minimize operating expenses. This is an excellent opportunity for investors seeking a well-maintained, income-producing asset in one of Chicago's most sought-after suburban rental markets.
Discover the potential of the Chicago market with the thriving location near the property. Situated in Niles, IL, this area offers a diverse array of attractions, including the nearby Village Crossing Shopping Center, offering convenience and entertainment to future residents. Nearby recreational and leisure opportunities include the Golf Mill Shopping Center, as well as access to Park Ridge Country Club and the Tam O'Shanter Golf Course. With its proximity to the city of Chicago, investors will appreciate the vibrant cultural scene, renowned dining, and rich history, making this location an enticing prospect for multifamily and high-rise investment.
Location
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