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Stabilized 6-Unit Multi Family Investment 8047 W Foster Ln 6 Unit Apartment Building $925,000 ($154,167/Unit) 5.27% Cap Rate Niles, IL 60714
Investment Highlights
- Family-Owned & Meticulously Maintained for over 43 years
- New Boiler Installed in 2024
- Value-Add Opportunity with below-market rents on select units
- 100% Occupied with stable rental income
Executive Summary
This well-maintained, six-unit multifamily building presents investors with a rare
opportunity to acquire a stabilized asset in the highly desirable Village of Niles. Tucked
away at the end of a quiet cul-de-sac adjacent to a public park, the property offers an
attractive residential setting with convenient access to shopping, dining, public
transportation, major expressways, and O'Hare International Airport. The building
features six (6) one-bedroom, one-bath apartments with a strong rental history and
value-add potential through below-market rents on select units. 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.
opportunity to acquire a stabilized asset in the highly desirable Village of Niles. Tucked
away at the end of a quiet cul-de-sac adjacent to a public park, the property offers an
attractive residential setting with convenient access to shopping, dining, public
transportation, major expressways, and O'Hare International Airport. The building
features six (6) one-bedroom, one-bath apartments with a strong rental history and
value-add potential through below-market rents on select units. 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.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $925,000 | Apartment Style | Low-Rise |
| Price Per Unit | $154,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 5.27% | Building Size | 4,029 SF |
| Gross Rent Multiplier | 11.54 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 1.99/1,000 SF |
| Zoning | R-4 | ||
| Price | $925,000 |
| Price Per Unit | $154,167 |
| Sale Type | Investment |
| Cap Rate | 5.27% |
| Gross Rent Multiplier | 11.54 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 4,029 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.99/1,000 SF |
| Zoning | R-4 |
Amenities
- Smoke Detector
Unit Amenities
- Cable Ready
- Dishwasher
- Storage Space
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Tub/Shower
- Den
- Family Room
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Basketball Court
- Bicycle Storage
- Private Bathroom
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,048 | 600 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 09-14-201-029-0000 | Total Assessment | $82,000 (2025) |
| Land Assessment | $12,304 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $69,696 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
09-14-201-029-0000
Land Assessment
$12,304 (2025)
Improvements Assessment
$69,696 (2025)
Total Assessment
$82,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Stabilized 6-Unit Multi Family Investment | 8047 W Foster Ln