NOT LISTED FOR SALE

8617 N Milwaukee Ave Niles, IL 60714

Oak Park Neighborhood
11 Beds
6 Baths
-- Sq Ft
5,663 Sq Ft Lot

Last Sold March 02, 2023

Last sale price $840,000

34 Days on Market

Highlights

  • Laundry Room
  • Central Heating
  • Baseboard Heating
  • Maine East High School Rated A

About This Home

As of March 2023

Huge potential cash cow! The only available 6-flat at this time, in desirable Niles. Well-maintained solid brick building on accessible Milwaukee corridor close to everything - malls, shopping outlets, restaurants, Niles free bus. Newer essential utilities: boiler replaced in 2021, roof replaced in 2020, windows are 5-7 years old. Rents lower because of long-time tenants. Rents can be as high as $1,500 for the 2-bed units. Investors, give yourselves a lifetime bonus!

Last Agent to Sell the Property

Tess Demavivas

Century 21 S.G.R., Inc. License #475138358 Listed on: 12/19/2022

Century 21 S.G.R., Inc.

Last Buyer's Agent

Sargon Youkhanna

A.D.S. Realty Co.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $16,012

Year Built

  • Built in 1960

Lot Details

  • 5,663 Sq Ft Lot
  • Lot Dimensions are 47 x 125

Parking

  • 6 to 12 Parking Spaces

Home Design

  • Brick Exterior Construction
  • Pitched Roof
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2-Story Property
  • Fire Suppression System
  • Laundry Room
  • Unfinished Basement

Bedrooms and Bathrooms

  • 11 Bedrooms
  • 6 Bathrooms

Utilities

  • Window Unit Cooling System
  • Central Heating
  • Baseboard Heating

Listing and Financial Details

  • Tenant pays for air conditioning, electricity

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $476
  • Fuel Expense $2,595
  • Insurance Expense $1,685
  • Maintenance Expense $2,100
  • Other Expense $1,549
  • Trash Expense $1,028
  • Water Sewer Expense $3,953
  • Operating Expense $33,242
  • Gross Income $60,000
  • Net Operating Income $26,758

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$16,012

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Flats
  • Stories: 2
  • Year Built: 1960
  • Built Before 1978 (Y/N): Yes
  • Information: Show-Lock Box,No Sign on Property
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 6
  • Total Bedrooms: 11
  • Possible Use: Multi-Family
  • Basement Description: Unfinished
  • Fire Protection: Fire Extinguisher/s
  • Misc Inside: Laundry Room
  • Fireplaces: 1
  • Drive-In Doors: 0
  • Dishwashers: 0
  • Refrigerators: 6
  • Ranges: 6
  • Number of Windows: 4
  • Number of Washers: 1
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • Foundation Details: Concrete Perimeter
  • Frontage Type: City Street
  • List Price: 879000
  • Roof: Composition
  • Exterior Building Type: Brick
  • Roof Structure: Pitched

Garage/Parking

  • Outdoor Parking: 6-12 Spaces

Utilities

  • Cooling: Window Unit(s)
  • Electric: Circuit Breakers
  • Utilities: Sanitary Sewer, Water-Community
  • Heat/Ventilation: Central Bldg Heat,Baseboard
  • Leased Washer Dryer YN: No

Condo/Co-op/Association

  • Owners Association (Y/N): No

Fee Information

  • Trash Expense: 1028
  • Water Sewer Expenses: 3953
  • Janitor Expense: 600

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.13
  • Lot Dimensions: 47 X 125
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Air Conditioning, Electricity
  • Board Number: 8

Multi Family

  • Net Operating Income: 26758
  • Fuel Expense: 2595
  • Insurance Expense: 1685
  • ElectricExpense: 476
  • GrossIncome: 60000
  • Maintenance Expense: 2100
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 33242
  • Expense Year: 2021
  • Type Multi-Family: Flats

Tax Info

  • Tax Annual Amount: 16012
  • Tax Year: 2021

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 Change Sq Ft Price
03/02/2023 03/02/23 Sold $840,000 -4.4% --
01/23/2023 01/23/23 Pending -- -- --
12/19/2022 12/19/22 For Sale $879,000 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11689826

Midwest Real Estate Data (MRED)