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Niles 60714 Niles
8551 W Normal Avenue
$360,000
● House - Off Market

8551 W Normal Avenue

Niles, IL 60714
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,306 Ft²
$347,817
RealtyHop Estimate
-0.62%
Since Oct 1, 2023
National-US
Primary Model

About This Property

Spacious 3 bed | 2 bath Ranch Style Home in sought after of Niles. Well cared for home with long time owners. Hardwood floors below all the carpet throughout most of the home. Newer washer/dryer, furnace in 2018, driveway in great condition. Wonderful back yard and school options are excellent. Both public and private, high school and elementary schools nearby. Don't miss this opportunity.
Unit Size
1,306 Ft²
Days on Market
-
Land Size
-
Price per sqft
$268
Property Type
House
Property Taxes
$143
HOA Dues
-
Year Built
1960

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 3 years ago (MRED MLS #11845382)

Price History

Date / Event Date Event Price
Sep 1, 2023 Sold
Premium
Sold
Aug 15, 2023 Listed by Baird & Warner $350,000
Listed by Baird & Warner

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1960
  • Effective Year Built: 1960
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 12
  • Building Style: 3
  • Exterior Walls Type: 24
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 0
  • Garage Type: 4
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,250
  • Total Building Area: 1,306
  • Gross Building Area: 1,306
  • Building Area: 1,306
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 24
  • Heated Square Feet: 1,306
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: GREENWOOD ESTATE
  • Land Acres: 0000000144
  • Standard Land Use Code: 1001
  • County Land Use Code: 2-03
  • Legal Description 1: (GREENWOOD)(ESTATE) SUB IN EH SW SEC 23-41-12

Neighborhood

  • School District Name: Park Ridge Consolidated Community School District 64
  • Census Tract: 805902

Geography

  • District: 22
  • Parcel: 09-23-323-003-0000
  • Lot: 131
  • Meridian: SEC 23 TWN 41N RNG 12E
  • Municipality: MAINE
  • Latitude: 42.0305
  • Longitude: -87.84

    Address

  • Full Address: 8551 W Normal Ave
  • Address - House Number: 8551
  • Street Direction: W
  • Address - Street Name: Normal
  • Address - Suffix Type: Ave
  • State: IL
  • City Name: Niles
  • Carrier Code: C012
  • 4-Digit Zip Code: 2327
  • Zip Code: 60714

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $149,795
  • Tax Rate Code Area: 22023

    Appraisal Valuation

  • Standard Deviation: 0.2313
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 67
  • Final Value: 391,368
  • High Value: 481,925
  • Low Value: 300,810

    Market Valuation

  • Market Total Value: $310,000
  • Market Land Value: $68,750
  • Market Improvement Value: $241,250

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $31,000
  • Assessed Land Value: $6,875
  • Assessed Improvements Value: $24,125

    Sales

  • Current Sale Contract Date: Aug 30, 2023
  • Current Sale Recording Date: Sep 27, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 8193
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Niles

Stats & Trends

Median Asking:

$419,900

Sale Price/ft²

$268

Below Asking

0.01%

Average Days on Market

43

Average Home Size

1744 ft²

Average Home Age

50.1 years

Currently For Sale

42 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

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MRED

Listed by: Jill Buckley, Baird & Warner
Last Updated: 3 years ago
Data Source: MRED, MLS# 11845382
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 8551 West Normal Avenue built and last sold?
The property at 8551 West Normal Avenue was built in 1960 and last sold on Aug 30, 2023 for $360,000.
How much is this home worth?
The estimated value of the home located at 8551 West Normal Avenue is $0.
What are some comparable homes to 8551 West Normal Avenue?
There are currently no comparable homes to 8551 West Normal Avenue.
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