8047 W Foster Ln
- 100% Occupied with stable rental income
- Family-Owned & Meticulously Maintained for over 43 years
- Tenants Pay Electric, reducing landlord operating expenses
- On-Site Coin Laundry provides additional income
- New Boiler Installed in 2024
- Roof Professionally Seal-Coated Every Three Years
Property Description
Well-maintained multifamily investment opportunity in desirable Niles, located on a quiet cul-de-sac adjacent to a public park. The property features four (4) 1-bedroom/1-bath units and one (1) 3-bedroom/2-bath unit, approximately 8.5 off-street parking spaces, coin laundry, tenant-paid electric, and a new furnace installed in 2024. Long-term ownership with strong rental history and rental upside. Seller is currently renting/operating the property as six (6) units. Seller and listing broker make no representation regarding the legality or permitted status of the sixth unit. Buyer to perform their own due diligence with the Village of Niles regarding zoning, use, occupancy, unit count, and code compliance. Ownership has meticulously maintained the property for over 43 years, completing routine capital improvements including a new furnace in 2024 and regularly seal-coating the roof every three years. Additional amenities include approximately 8.5 off-street parking spaces, on-site coin laundry providing supplemental income, and tenant-paid electric, helping to minimize operating expenses. This is an excellent opportunity for investors seeking a well-maintained, income-producing asset in one of Chicago's most sought-after suburban rental markets.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $899,900 |
| No. of Units: | 5 |
| Year Built: | 1965 |
| Lot Size: | 0.22 Acres |
| Opportunity Zone: | No |
| Price per unit: | $179,980 |
| Property Website | Click Here |
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