4905 Louise St Skokie, IL 60077
- Garden apartment buildings
- 0.25 lot acres
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 Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,000,000
- ML approach
- $1,950,000
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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
