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    7559 Ridge Boulevard

    Chicago, IL 60645
    • $3,500,000
    • STATUS: Active
    • ON SITE: 106 days
    • MLS #: 10740432
    UPDATED: 38 min ago
    $3,500,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1923
    County:

    School Ratings & Info

    Description

    The possibilities are endless with this large mixed use building on a prime corner right on the border of Rogers Park and Evanston. The outstanding transportation access and strong local housing demand are just two of the factors that generate strong residential occupancy for this building. This condo deconversion property is coupled with a retail/commercial component that can continue as such, or might be repurposed for live/work space or for pure residential use in order to further drive occupancy and cash flow. The residential units were rehabbed in 2008 and include a mix of large 2 & 3 bedroom floor plans . . . many with two baths & granite tops . . . and all featuring hardwood floors, updated bathrooms & kitchens, a full set of appliances, including dishwashers and laundry equipment, new vinyl windows and individual HVAC. Beyond the 16 current residential condo units and 11 retail storefronts, there is parking in the rear and a huge basement that opens up the potential of duplexing down the first floor units and/or providing leased storage spaces. There is plenty of room to grow with this building!! Please note that financials are pro forma based upon a completed refreshing of current residential units and a conversion to live/work or residential of the first floor space. They do not include any potential basement storage revenue, etc.

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    © 2020 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or RE/MAX IMPACT. Based on information submitted to the MRED as of 2020-09-24T16:52:47.2 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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 properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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    7559 Ridge Boulevard Chicago, IL 60645

    • Price: $3,500,000
    • Status: Active
    • Updated: 38 min ago
    • MLS #: 10740432
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1923
    Built
    Neighborhood:
    Chi - Rogers Park
    County:
    Cook
    Area:
    Chi - Rogers Park
    Property Description
    The possibilities are endless with this large mixed use building on a prime corner right on the border of Rogers Park and Evanston. The outstanding transportation access and strong local housing demand are just two of the factors that generate strong residential occupancy for this building. This condo deconversion property is coupled with a retail/commercial component that can continue as such, or might be repurposed for live/work space or for pure residential use in order to further drive occupancy and cash flow. The residential units were rehabbed in 2008 and include a mix of large 2 & 3 bedroom floor plans . . . many with two baths & granite tops . . . and all featuring hardwood floors, updated bathrooms & kitchens, a full set of appliances, including dishwashers and laundry equipment, new vinyl windows and individual HVAC. Beyond the 16 current residential condo units and 11 retail storefronts, there is parking in the rear and a huge basement that opens up the potential of duplexing down the first floor units and/or providing leased storage spaces. There is plenty of room to grow with this building!! Please note that financials are pro forma based upon a completed refreshing of current residential units and a conversion to live/work or residential of the first floor space. They do not include any potential basement storage revenue, etc.
    Exterior Features

    Construction Brick Frontage Access City Street Location CornerMixed Use AreaPublic Transport Avail Lot Dimensions 150 X 100 Lot Sq Ft 15000 Number Of Parking Spaces 8

    Interior Features

    Air Conditioning Central Air Fire Protection None Floor Finish Wood Miscellaneous Inside Basement Number Of Apts 16 Number Of Offices 0 Number Of Stores 11 Number Of Stories 3 Outdoor Parking 6-12 Spaces

    Property Features

    Age Older Built Before1978 YN Yes Current Use CommercialCondominium Electric Expense Source Actual Electrical Service Circuit Breakers Electricity Expense 2000 Expense Year 2019 Exterior Building Type Brick Fuel Expense 3000 Fuel Expense Source Actual Geographic Locale Chicago North Gross Rental Income Amount 342600 Heat Ventilation Forced Air Insurance Expense 6000 Insurance Expense Source Actual Net Oper Income Amount 228727 Other Expense Source Owner Projection Other Expenses 44260 Potential Use CommercialResidential-Multi-Family Rental Price 1 Tax Year 2018 Taxes 38396 Tenant Pays Air ConditioningElectricHeat Total Annual Exp 113873 Total Annual Expense Source Combination Total Annual Income 342600 Total Monthly Income 28550 Township Rogers Park Unincorporated YN No Water Expense 14400 Water Expense Source Actual Zoning Type Commr

    Listing information © 2020 Midwest Real Estate Data LLC.
    Listing provided courtesy of Keller Williams Chicago-O'hare.


    © 2020 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or RE/MAX IMPACT. Based on information submitted to the MRED as of 2020-09-24T16:52:47.2 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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 properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
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