ON MARKET – MULTI-FAMILY
6930 N. Rosemary Ln. Niles, IL 60714
PRICE
$725,000
NUMBER OF UNITS
6
CAP RATE
5.55%
PROPERTY LISTED

Essex Realty Group is pleased to present 6930 N. Rosemary Lane, a six-unit apartment building located in the near north suburb of Niles, Illinois. Situated just off Milwaukee Ave. in a pocket of single-family homes, this low-density location is ideal for tenants as it's steps away from Cook County Forest Preserve, and close to public transportation and retail. The property has been meticulously maintained and has been under the same ownership for nearly 20 years.

The building's mix consists of five (5) two-bedroom and one (1) one-bedroom apartments with spacious floor plans. All units (above grade) feature hardwood floors throughout while the other two apartments have laminate flooring. Throughout the years, there have been modest updates in the apartments; however, most of the kitchens and bathrooms are in great original condition. Heat to apartments is provided through a hot water baseboard system and there are six parking spaces.

This is an extremely low maintenance property with very manageable expenses. Based on comparable properties in the area, the subject’s rents are far below the market, and through a more aggressive leasing approach, rents could be increased by 20% on average.

LOCATION DETAILS

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HIGHLIGHTS
  • Prime Suburban Niles, Illinois Location
  • Extremely Well Maintained Six Unit Apartment Building
  • Spacious 1 Bed and 2 Bed Units
  • Value Add Opportunity
  • Rents are Significantly Below Market
LISTING BROKERS
Steven Livaditis
Principal
773.305.4840
Reuben Blackman
Associate
773.305.4848