Essex Realty Group is proud to announce the sale of 9448 Washington St, a ten-unit (10) apartment building located in the near north suburb of Niles, Illinois. The property is situated in a unique location that is ideal for tenants as it’s steps away from Courtland Park, close to retail and public transportation. The property has been well-maintained and had been under the same ownership for nearly 20 years.
The building’s unit-mix consists of eight (8) 2bd/1.5Ba, one (1) 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. Each unit has an individual furnace and hot water heater; tenants provide their own window air-conditioning units. Recent updates to the building include refurbished front porches, new rear porches, and a new blacktop parking lot with eleven (11) parking spaces.
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.
Essex successfully conducted over 13 tours and generated multiple offers. The Property went under contract within two weeks of listing.
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 South of Golf Rd. 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 on Golf Rd and Milwaukee Ave. Golf Mill and Millbrook shopping centers are within walking distance of the property, and both 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, this intersection of Golf Rd and Milwaukee Ave provides residents with everything from Walmart, Kohl’s, JCPenney’s, Export fitness, and AMC Movie theater.
- Ten (10) Spacious 2Bd & 1Bd Units
- 13+ Property Tours & Several Offers
- Significantly Under Market Rents
- Excellent Location, Close to Retail and Transportation
- Well Maintained by Same Owner for 20+ Years