Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8707 N Oketo Ave Niles, IL 60714

    Sponsored
    For Sale
    $699,900

    MULTI_FAMILY - Colonial - Niles, IL

    Lot size:
    0.18 Acres
    Days on Market:
    3
    Last Refresh:
    Jan 28 at 12:06 am

    Property Features for 8707 N Oketo Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    MULTI
    Rooms
    Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 3, Bedroom 5, Bedroom 4, Bathroom 2, Bedroom 2, Basement
    Bedrooms
    5
    Bathrooms
    3
    APN
    09242120050000
    Parking
    2
    Parking features
    Garage
    Basement
    Full, Finished
    Lot size
    0.18 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas

    Building Details

    Year built
    1959
    Building materials
    Brick
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Jolita Vilimiene

    eXp Realty, LLC (888) 574-9405

    Listing agent Jolita Vilimiene (847) 975-8218

    Listing date Jan 26, 2026

    MLS# 12554127 Listing URL

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Niles Income-Producing Multi-Family Property

    This is a legal two-unit brick building with a fully renovated, income-producing, non-conforming garden unit. Situated on a corner double lot measuring 58 x 125 feet in a high-demand area of Niles, just off Dempster, the property features three income-producing units. Unit 1, located on the first floor, includes two bedrooms and one full bathroom, and was fully remodeled a couple of years ago with a modern kitchen, quartz countertops, updated appliances, a new bathroom, and refinished hardwood floors. Unit 2, on the second floor, offers two bedrooms and one full bathroom and features refinished hardwood floors. The garden unit has one bedroom and one bathroom and was fully renovated a couple of years ago, featuring a new kitchen, heated floors, and a new bathroom. All units are currently rented with one-year leases. Tenants in the main units are responsible for their own gas and electric, while the garden unit includes utilities. The basement provides a shared laundry and utility room with additional storage space. Recent improvements include a new boiler/heater and a new washer. A detached two-car garage is included, along with street parking. The property is located minutes from shopping, dining, parks, and transportation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Niles
    County
    Cook
    State
    Illinois
    Longitude
    -87.810846
    Latitude
    42.039052

    Nearby Similar for Sale

    • New
      $799,900

      Niles Brick 3-Flat Investment Opportunity

      Well-maintained brick 3-flat in Niles, ideal for investors/owner-occupants.
      8027 W Churchill Ave, Niles, IL 60714
      View Details
    • New
      $375,000
      2,800 SF

      Niles Food Mart Business Opportunity

      Profitable food mart business with high traffic visibility for sale.
      8809 N Milwaukee Ave, Niles, IL 60714
      View Details
    • New
      $265,000
      1,550 SF

      Niles Commercial Property For Sale

      Commercial property in Niles with high traffic visibility.
      8137 N Milwaukee Ave, Niles, IL 60714
      View Details
    • $325,000
      3.27 Acres

      Turnkey Restaurant in Prime Location

      Profitable, fully equipped restaurant for sale in high-traffic Niles corridor.
      8439 W Golf Rd W, Niles, IL 60714
      View Details
    • Contact for pricing
      2,382 SF

      Freestanding Restaurant Building Near Golf Mill

      2,382 SF restaurant building near Golf Mill Town Center.
      9206 N Milwaukee Ave, Niles, IL 60714
      View Details
    • $197,600

      Niles Condo with Balcony

      One-bedroom condo in well-maintained building with in-unit laundry.
      6801 N Milwaukee Ave, Niles, IL 60714
      View Details
    • $1,400,000
      19,230 SF

      Niles Warehouse with Office Space

      19,230 SF warehouse with office space for sale.
      9250 N Willow Ln, Niles, IL 60714
      View Details
    • $649,900
      3,006 SF

      Niles Medical Building - Great Location!

      8 Exam Rooms, High Traffic Area, Ample Parking
      7124 Touhy Ave, Niles, IL 60714
      View Details
    • $699,000
      5,790 SF

      Niles Office Building: Prime Location

      Multi-tenant office building, excellent investment.
      6954 Touhy Ave, Niles, IL 60714
      View Details
    • $949,000
      4,029 SF

      Niles Multifamily Investment Property

      Six-unit building, 100% occupied, high rental potential
      8003 Foster Ln, Niles, IL 60714
      View Details
    • $2,000,000
      7,900 SF

      8000 Waukegan Rd, Niles, IL 60714

      Commercial real estate • 7,900 SF
      8000 Waukegan Rd, Niles, IL 60714
      View Details

    FAQs

    What type of property is this?
    Triplex - Legal 2-unit plus renovated garden unit in prime Niles location.
    Where is this triplex located?
    The property is located at 8707 N Oketo Ave Niles, IL.
    What is the asking price?
    The asking price for this property is $699,900.
    What are key features of this property?
    This property features: - Legal 2-unit building with a renovated, income-producing garden unit in a prime Niles location.; - Fully rented with one-year leases, providing stable income from day one.; - All-brick construction on a corner double lot (58 x 125) ensures durability and long-term value.
    (847) 975-8218
    Request Owner's contact information
    8707 N Oketo Ave Niles, IL 60714
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8707 N Oketo Ave
    Niles, IL 60714
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    8707 N Oketo Ave Niles, IL 60714
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jolita Vilimiene
    (847) 975-8218
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.