Essex Realty Group, Inc. is pleased to announce the sale of 8828 N. Wisner Street, a six-unit (6) apartment building located in the near north suburb of Niles, IL. The building’s unit mix consists of five 2 bed/1 bath apartments and one 1 bed/1 bath apartment.
The property is situated east of the Milwaukee and Dempster intersection and is ideal for tenants as it is close to retail shops and restaurants as well as public transportation. The property has been well-maintained under the same ownership for nearly 20 years. After multiple tours and offers, the property sold to a local investor.
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 east of the Dempster Milwaukee intersection and is in close proximity to I-94 and 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, such as; Tita Mia’s Filipino Restaurant and Cafe, Arvin Restaurant, DMZ Restaurant and Bar, and Taco Maya, Walmart, Kohl’s, JCPenney’s, Export fitness, and AMC Movie theater.
Essex Realty Group has been exclusively engaged to market for sale 8828 N. Wisner Street, a six-unit (6) apartment building located in the near north suburb of Niles, Illinois. The property is situated east 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 remained 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. The upstairs apartments feature hardwood floors throughout the unit with laminate in the kitchen, and the bottom units feature a mixture of laminate and carpet flooring. The building has a central boiler and 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.
- Six Unit Apartment Building in Highly Desirable Near North Suburb of Niles
- Attractive Unit Mix That Consists of Five (5) 2Bd/1Ba and One (1) 1Bd/1Ba Spacious Apartments
- Well Maintained Property Under 20 Year Ownership
- Significantly Under Market Rents.