8047 W Foster Ln - Apartments FOR SALE


Niles, IL 60714
$925,000 USD
312-860-4043
8047 W Foster Ln, Niles, IL for Sale
$925,000 USD
Apartments - FOR SALE
1/19
null | 5.27% Cap Rate

8047 W Foster Ln
Niles, IL 60714


HIGHLIGHTS

  • Family-Owned & Meticulously Maintained for over 43 years
  • Value-Add Opportunity with below-market rents on select units
  • New Boiler Installed in 2024
  • 100% Occupied with stable rental income

OVERVIEW

This well-maintained, six-unit multifamily building presents investors with a rare opportunity to acquire a stabilized asset in the highly desirable Village of Niles. Tucked away at the end of a quiet cul-de-sac adjacent to a public park, the property offers an attractive residential setting with convenient access to shopping, dining, public transportation, major expressways, and O'Hare International Airport. The building features six (6) one-bedroom, one-bath apartments with a strong rental history and value-add potential through below-market rents on select units. 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.

FOR SALE DETAILS

PRICE

$925,000 USD

PRICE/SF

$230 USD /SF

# OF UNITS

6

PRICE/UNIT

$154,167

CAP RATE

5.27%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Stabilized 6-Unit Multi Family Investment

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

9,845 SF

ZONING

R-4

APN/PARCEL ID

09-14-201-029-0000

ASK ABOUT THIS PROPERTY

Paul ProanoPaul Proano Properties and BusinessesMore Info
312-860-4043

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Paul ProanoPaul Proano Properties and BusinessesMore Info
312-860-4043

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.