Essex Realty Group, Inc. is proud to announce the sale of 4910 Louise St. in Skokie, Illinois. The 4-unit brick, walk-up building is located in a pocket of Skokie that is considered to be a tight rental market as a result of the low vacancy rates, low inventory, and rising rents. The property presented the opportunity to acquire a stabilized 4-unit property that has received many recent capital improvements in one of Chicago lands hottest suburban markets. Essex produced more than 10 property tours which resulted in multiple offers. The property ultimately sold for 95% of the list price.
The Village of Skokie is bordered by Evanston, Lincolnwood, Niles, Morton Grove, and Wilmette and many consider it a part of the North Shore.
The immediate pocket surrounding the building is primarily residential with major commercial stretches within steps of the subject property along Lincoln Ave., Niles Center Rd., & Oakton St. Popular restaurants nearby include Alexander’s Breakfast & Lunch, Libertad, Tub Tim Thai Restaurant, and Village Inn Pizzeria.
4910 Louise St. is conveniently situated in the Niles Township High School District 219 just a mile east from Niles West High School. In 2012, Newsweek ranked Niles West on its list of the Top 1000 Public Schools in the nation.
The Skokie Park District maintains public spaces and historical sites within its more than 240 acres of parkland and in its ten facilities. The district is a recent winner of the national “Gold Medal for Excellence” in parks and recreation management. Every May since 1991, the park district hosts the Skokie Festival of Cultures to celebrate the Village’s diverse composition. In addition to municipally managed public spaces, the Village is also home to the state-of-the-art North Shore Center for the Performing Arts, encompassing Centre East, Northlight Theatre, and the Skokie Valley Symphony Orchestra.
The property’s convenient location offers easy access to the Edens Expressway (I-94) and the new CTA Oakton-Skokie Yellow Line station just a few blocks northeast (commonly known as the Skokie Swift) at the corner of Oakton St. and Skokie Blvd. In addition, there are several CTA and Pace bus stops along Skokie Blvd. and Oakton St.
- Closed at 95% of list price
- Competitive bidding process with multiple written offers
- Current rents were approximately $100/month below market
- Desirable Skokie location
- 10+ property tours
- All 2 bed/1 bath layouts