$1,475,000

7554 N Waukegan Rd Niles, IL 60714

Estimated payment $8,854/month

-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

About This Home

Fantastic opportunity to own a well-maintained 9-unit building in a prime Niles location! Situated near major shopping corridors, public transportation, parks, restaurants, and essential amenities, this property offers both convenience and strong tenant appeal. The building is occupied by long-term tenants and provides outstanding upside potential, with current rents well below market. Extensive building improvements deliver peace of mind for investors. Roof and gutters were replaced in 2020, new copper plumbing lines were installed in 2020, and windows were updated in 2019. Electrical upgrades include building-wide panel work and an individual breaker box for Unit 2W completed in 2018. A newer water heater further enhances the mechanical reliability. Interior features include hardwood floors throughout all units and individual storage lockers for each apartment. The shared laundry room offers coin-operated machines, with the washer recently replaced. Unit 1C underwent a complete renovation in 2021 and presents beautifully. Heating is provided by baseboard heat in all units, while Unit 2W features a split AC/heat system installed in 2019, with the tenant paying for heat. Eight on-site parking spaces offer additional convenience and rental appeal. With its excellent location, solid building improvements, long-term tenant base, and clear value-add potential, this property represents a dependable and compelling investment in a high-demand rental market.

Listing Agent

Yvonne Stachyra

Wesley Realty Group License #475155106 Listed on: 12/01/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,061

Year Built

  • Built in 1964

Additional Features

  • 3-Story Property
  • Courtyard
  • 7,841 Sq Ft Lot
  • Radiator

Community Details

Overview

  • 9 Units

Building Details

  • Electric Expense $616
  • Fuel Expense $2,880
  • Insurance Expense $8,178
  • Maintenance Expense $1,150
  • Trash Expense $1,601
  • Water Sewer Expense $5,747
  • Operating Expense $33,393
  • Gross Income $153,744
  • Net Operating Income $120,351

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,061

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Courtyard
  • Stories: 3
  • Year Built: 1964
  • Built Before 1978 (Y/N): Yes
  • Information: List Broker Must Accompany,Other-See Remarks,No Sign on Property
  • Estimated Age: Older
  • Actual Status: New
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplaces: 1
  • Drive-In Doors: 0
  • Dishwashers: 1
  • Refrigerators: 9
  • Ranges: 9
  • Number of Washers: 1
  • Room: 0

Utilities

  • Heat/Ventilation: Radiators
  • Leased Washer Dryer YN: No

Fee Information

  • Trash Expense: 1601
  • Water Sewer Expenses: 5747

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.18
  • Lot Dimensions: 7,800 sq ft

Rental Info

  • Board Number: 2
  • Tenancy Type: Leases

Multi Family

  • Net Operating Income: 120351
  • Fuel Expense: 2880
  • Insurance Expense: 8178
  • ElectricExpense: 616
  • GrossIncome: 153744
  • Maintenance Expense: 1150
  • NumberOfUnitsTotal: 9
  • OperatingExpense: 33393
  • Type Multi-Family: Courtyard

Tax Info

  • Tax Annual Amount: 13061.1
  • Tax Year: 2024

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/01/2025 12/01/25 For Sale $1,475,000 -- --
Source: Midwest Real Estate Data (MRED)

Source: Midwest Real Estate Data (MRED)

MLS Number: 12524774

Midwest Real Estate Data (MRED)

APN: 10-30-326-020-0000