14
See all 14 photos
$1,475,000
Est. payment /mo
7,840 Sqft Lot
Active Under Contract
7554 N Waukegan RD Niles, IL 60714
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Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 12524774
Maintenance Fees $1,150
Year Built 1964
Annual Tax Amount $13,061
Tax Year 2024
Lot Size 7,840 Sqft
Lot Dimensions 7,800 sq ft
Property Sub-Type Multi Family 5+
Property Description
Fantastic opportunity to own a well-maintained 9-unit building in a prime Niles location! Situated near major shopping corridors, public transportation, parks, restaurants, and essential amenities, this property offers both convenience and strong tenant appeal. The building is occupied by long-term tenants and provides outstanding upside potential, with current rents well below market. Extensive building improvements deliver peace of mind for investors. Roof and gutters were replaced in 2020, new copper plumbing lines were installed in 2020, and windows were updated in 2019. Electrical upgrades include building-wide panel work and an individual breaker box for Unit 2W completed in 2018. A newer water heater further enhances the mechanical reliability. Interior features include hardwood floors throughout all units and individual storage lockers for each apartment. The shared laundry room offers coin-operated machines, with the washer recently replaced. Unit 1C underwent a complete renovation in 2021 and presents beautifully. Heating is provided by baseboard heat in all units, while Unit 2W features a split AC/heat system installed in 2019, with the tenant paying for heat. Eight on-site parking spaces offer additional convenience and rental appeal. With its excellent location, solid building improvements, long-term tenant base, and clear value-add potential, this property represents a dependable and compelling investment in a high-demand rental market.
Location
State IL
County Cook
Area Niles
Interior
Fireplace N
Building
Dwelling Type Multi Family 5+
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Listed by Yvonne Stachyra of Wesley Realty Group
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