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    Property profile & analytics

    4905 Louise St Skokie, IL 60077

    • Garden apartment buildings
    • 0.25 lot acres
    For Sale
    View listing
    $1,850,000
    Value Estimation
    Last Sale
    Mar 10, 2025
    $1,720,000
    Location Intelligence
    Property ID
    US28-0306584
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 4905 Louise St

    Year built
    1956
    Lot size
    0.25 lot acres
    Property type
    Garden apartment buildings
    APN
    10-28-208-021
    APU
    1028208021

    Description

    This exceptional 12-unit apartment building presents a compelling investment opportunity in the thriving Skokie, IL market. Strategically located on a corner lot at 4905 Louise Street, this property enjoys unparalleled convenience, being within walking distance of downtown Skokie and the CTA Yellow Line. The building comprises nine one-bedroom, one-bathroom units and three two-bedroom, one-bathroom units, offering a diverse mix of housing options. Ample parking is provided with twelve surface spaces. Each unit includes its own laundry facilities and storage, enhancing tenant appeal. The building boasts a well-maintained structure, featuring a roof approximately ten years old, a newer hot water heater, and an older but functional boiler system with copper plumbing. While the unit interiors retain a vintage aesthetic, the current rents are significantly below market value, presenting a substantial opportunity for increased profitability through market-rate adjustments. The property's proximity to the Yellow Line and its location just east of the Interstate ensures excellent accessibility for residents and contributes to its strong investment potential. This is a rare chance to acquire a well-positioned multifamily property with significant upside.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $2,000,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,680,000
      6.5%
      $1,785,000
      7%
      $1,675,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,505,000
      Geo Method
      $1,580,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $2,055,000
      Retail
      $1,835,000
      Mixed-Use
      $2,180,000
      Hospitality
      $1,885,000
      Educational
      $1,695,000
      Residential Income
      $1,690,000
      Energy
      $1,930,000
      Income-Based Land
      $2,115,000
      Food Service
      $1,765,000

    Location Insight

    • Map
    • Local Demand
    City
    Skokie
    County
    Cook
    State
    Illinois
    Longitude
    -87.7504
    Latitude
    42.0251
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $23,215
    $15,199
    $59,274
    $74,473
    -
    $151,990
    $592,740
    $744,730

    Comparable in this City

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    • Value Estimation
      $415,000
      0.08 Acres

      9110 Skokie Blvd

      GARDEN APT, COURT APT (5+ UNITS) • 0.08 Acres
      9110 Skokie Blvd, Skokie, IL 60077-1785
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    4905 Louise St
    Skokie, IL 60077
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    Realmo Value Estimation

    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.

    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.

    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
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