8003 West Foster Lane

Niles, IL 60714

$949,000
Price
6
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Prime Investment Opportunity of This 6-Unit Building in Niles! Don't miss out on this rare and outstanding investment opportunity. All the units are one bedroom, one bath with an eat-in kitchen and spacious living room/dining room combination. This well-maintained, solid brick building in the heart of Niles is 100% occupied with all tenants on month-to-month leases which offers exceptional potential for immediate rental income growth. 5 out of the 6 units have been beautifully renovated in the past...Prime Investment Opportunity of This 6-Unit Building in Niles! Don't miss out on this rare and outstanding investment opportunity. All the units are one bedroom, one bath with an eat-in kitchen and spacious living room/dining room combination. This well-maintained, solid brick building in the heart of Niles is 100% occupied with all tenants on month-to-month leases which offers exceptional potential for immediate rental income growth. 5 out of the 6 units have been beautifully renovated in the past few years with new kitchens, bathrooms and refinished hardwood floors. This sound, low maintenance brick building features a new roof installed in 2023, a regularly serviced 1988 boiler with valves and pump replaced within the past 5 years, windows from 1990 in all units and the rear enclosed porch windows from around 2020. There are on-site extra storage lockers in the basement, potential in building laundry (building previously had laundry), a common parking area behind the building on a first come first served basis with additional overnight parking on Washington. There is also a grassy side yard with concrete patio area, perfect for tenant enjoyment. Building is situated in a prime rental market in Niles with close proximity to Golf Mill Mall and Oak Mill Mall, providing convenient shopping options. There is also public transportation easily accessible via Golf Rd and Milwaukee Ave. This is a fantastic opportunity for investors looking for a turn-key property with strong rental demand in an area with growing potential. Don't wait - this gem won't last long!
  1. Listed by Monica Balder • Baird & Warner

Property Details for 8003 West Foster Lane

Area
Niles
Township
Maine
Zoning
MULTI
LISTING UPDATED: 02/18/2025 02:23 PM

Property Details for 8003 West Foster Lane

StatusContingent
MLS #12261308
Days on Market25
Taxes$16,680 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family 5+
MLS TypeMulti Family 5+ / Multi Family 5+-Other
Year Built1963
Lot Size0.29 AC / 12,577 SF
CountyCook County

Building Information for 8003 West Foster Lane

Stories3Residences6Year Built1963Building Size-Lot Size0.29 AC / 12,577 SF

Property Information for 8003 West Foster Lane

General Information
Addtl Parking Information
  • Outdoor Parking: Common Parking
Location and General Information
  • Information: List Broker Must Accompany,Other-See Remarks
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Window Unit(s)
  • Basement Description: Unfinished, Exterior Access, Storage Space
  • Heat/Ventilation: Baseboard
  • # Of Window/Ac: 6
  • # Of Refrigerators: 6
  • Misc Inside: Storage Inside
  • Num of Baths: 6.0
Exterior Features
  • Misc Outside: Enclosed Porch,Enclosed Stairs
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Electricity
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Other
  • Lot Size Source: County Records
  • Lot Dimensions: 12,577
  • Stories: 3
  • Exterior Building Type: Brick
  • Roof Structure: Flat
  • Building Area Total: 4029
  • # Of Ranges: 6
  • Conversion: N
  • MRD_UNC: No
Property and Assessments
  • Public Document Count: 3
  • Document Date: 2025-02-14T20:46:13
  • Photos Count: 15
Miscellaneous
  • Current Use: Multi-Family
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 6
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $1,680.00
  • Gross Income: $82,800.00
  • Gross Scheduled Income: $82,800.00
  • Insurance Expense: $4,300.00
  • Maintenance Expense: $6,000.00
  • Electric Expense Source: Actual
  • Expense Year: 2024
  • Total Annual Expense Source: Owner Projection
  • Fuel Expense Source: Actual
  • Insurance Expense Source: Actual
  • Janitor Expense: 0
  • Other Expense Source: Actual
  • Repairs-Decor Expense Source: Owner Projection
  • Trash Expense Source: Combination
  • Total Monthly Income: 6900
  • Water Expense Source: Owner Projection
  • Net Operating Income: $48,082.00
  • Operating Expense: $34,718.00
  • Other Expense: $3,130.00
  • Trash Expense: $1,068.00
  • Water Sewer Expense: $1,860.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 6
Unit 2
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 0
Unit 3
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 0
Unit 4
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 8003 West Foster Lane

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 8003 West Foster Lane

Taxable ValueLand$13,205Additions$51,532Total$64,737
Tax Record2023$16,680 ($1,390 / month)
Home Facts
Baths6Total Finished SqFt4,029 SqFtAbove Grade Finished SqFt4,029 SqFtStories2Lot Size12,577 SqFtStyleMulti-Family Res (5+ Units)Year Built1964CountyCOOKAPN09-14-201-018

Schools near 8003 West Foster Lane

This home is within East Maine School District 63.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 9 to 12
Public - 9 to 12
Private - PK to 6
Rating
School
Distance
Washington Elementary School
PublicK to 5

Maine East High School
Public9 to 12

Ralph J Frost Academy
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Baird & Warner

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 02/18/2025 02:23 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.