4956 Warren StSkokie, IL 60077

Property Details for 4956 Warren St

Year built

1899

Construction

FRAME

Lot size

0.11 AC

Property size (Sq ft)

2,280 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

10-21-411-018

APU

1021411018

Description

This exceptional 0.62-acre development site in Skokie, Illinois, presents a unique opportunity for mixed-use construction. Located at 4956-5006 Warren Street, the property boasts 200 square feet of frontage on Warren Street, near the intersections of Warren and Elmwood, and Warren and Niles Avenue. The site currently includes five residential properties: one two-flat and four single-family homes, along with four garages, providing seven parking spaces. The existing structures feature a mix of exterior materials including aluminum siding, vinyl siding, brick, and frame construction. Heating is provided by natural gas. The property is zoned CX (Core Mixed Use), making it ideal for a variety of commercial and residential developments. Its convenient location offers short walking distance to the CTA Yellow Line, bus routes, and shopping, with nearby retailers including Walgreens, Aldi, and the Skokie Market Place on Oakton. The strong demographics and excellent location make this a highly desirable development site. The property's assessed lot size is 27,036 square feet (135.18 x 200), and the 2018 tax amount was $27,582. The property is served by School District 69 and 219, with Madison Elementary, Lincoln Junior High, and Niles West High School nearby. The asking price reflects the potential value after obtaining necessary entitlements from the Village of Skokie. APN numbers are 10214110180000, 10214110170000, 10214110210000, 10214110200000, and 10214110140000.

• CAP approach

  CAP return

  Valuation

  6%

  $851,034

  6.5%

  $785,570

  7%

  $729,458

• Comparable approach

  Method

  Valuation

  Relative Method

  $460,304

  Geo Method

  $460,304

• Alternative Use

  Use

  Valuation

  Residential

  $785,570

  Hospitality

  $719,578

  Educational

  $598,680

  Medical

  $619,270

  Retail

  $931,280

Location Insight

City

Skokie

County

Cook

State

Illinois

Latitude

42.0275

Longitude

-87.7521

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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