ON MARKET – MULTI-FAMILY
8250 Dempster Street Niles, IL 60714
PRICE
$700,000
NUMBER OF UNITS
6
CAP RATE
4.27%
PROPERTY LISTED

Essex Realty Group has been exclusively engaged to market for sale 8250 Dempster street, a six-unit (6) apartment building located in the near north suburb of Niles, Illinois. The property is situated just west of the Milwaukee and Dempster insection and is ideal for tenants as it's close to retail and a few steps away from public transportation. The property has been well-maintained and has been under the same ownership for nearly 20 years.

The building's unit-mix consists of five (5) 2bd/1Ba, and one (1) 1Bd/1Ba apartments with spacious floor plans. All units are in original condition and feature a mix of hardwood, carpet, and tile flooring. The building has a central boiler and hot water heater, while the units have individual sleeve air conditioners provided by the landlord.

This is a low-maintenance property with manageable expenses. The subject property rents are far below the market based upon comparable properties in the area. Through a more aggressive leasing approach and modest updates, rents could be significantly increased.

LOCATION DETAILS

Niles is a village in Cook County, Illinois, and is part of the Maine and Niles Township. The Suburb is bordered by Chicago to the South, Skokie to the East, Park Ridge to the Southwest, and Glenview to the North. The property is located just west of the Dempster Milwaukee intersection and is in close proximity to the I-294, making it convenient for residents to commute to Chicago and neighboring suburbs.

The subject property is conveniently located near many retailers and shopping centers, such as Dempster Plaza, Golf Mill, and Millbrook shopping center. All are within walking distance of the property and consist of a variety of retailers, restaurants, and entertainment facilities. Apart from residents being able to grocery shop nearby, they can enjoy dining at a variety of restaurants such as; Tita Mia's Filipino Restaurant and Cafe, Arvin Restaurant, DMZ Restaurant and Bar, and Taco Maya. Additionally, these shopping centers provide residents with everything from Walmart, Kohl's, JCPenney's, Export fitness, and AMC Movie theater.

HIGHLIGHTS
  • The building features six (6) spacious apartment units with an attractive unit mix that consists of five (5) 2bd/1Ba, and one (1) 1Bd/1Ba apartments.
  • Significantly under market rents.
  • Excellent location! The property is steps away from public transportation and walking distance to Golf Mill and Millbrook shopping centers.
  • The property is low-maintenance with manageable expenses. Ownership has held the property for nearly 20 years.
LISTING BROKERS
Anthony Citriglia
Director
773.305.4844
Brian Kochendorfer
Managing Director
773.305.4870