8003 Foster Ln Niles, IL 60714
- Commercial real estate
- 4,029 SF
Current Use by Public Records
- Commercial real estate
Property Details for 8003 Foster Ln
- Year built
- 1963
- Property size
- 4,029 SF
- Property type
- Commercial real estate
Description
This exceptional six-unit multifamily building presents a prime investment opportunity in the thriving Niles, IL market. Located at 8003 W Foster Lane, this well-maintained, solid brick structure offers 4,029 square feet of rentable space and sits on a 0-acre lot. Each unit boasts one bedroom, one bathroom, an eat-in kitchen, and a spacious living room. Five of the six units have undergone recent renovations, featuring updated kitchens and bathrooms, and refinished hardwood floors. The building benefits from a new roof (installed 3/23), a regularly serviced boiler (1988, with recent valve and pump replacements), and updated windows in the rear enclosed porches (around 2020). Original windows in the units date back to 1990. Tenants currently hold month-to-month leases, providing immediate upside for rental income growth. Additional amenities include on-site storage lockers in the basement and a shared parking area behind the building (first-come, first-served basis, with overnight parking available on Washington). A grassy side yard with a concrete patio offers tenants an outdoor space. The property's prime location near Golf Mill Mall and Oak Mill Mall provides convenient access to shopping, and public transportation is readily available via Golf Road and Milwaukee Avenue. This turnkey property is ideally suited for investors seeking strong rental demand and significant growth potential in a desirable location. The building's solid construction and recent upgrades ensure low maintenance and long-term value.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Niles
- County
- Cook
- State
- Illinois
- Longitude
- -87.8261
- Latitude
- 42.05236
