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Lorenzo Sanchez

[email protected] +1(773) 419-1724

$ 1,250,000

Est. payment -/mo

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5791 N RIDGE AVE Chicago, IL 60660

8 Beds

7 Baths

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12381656

Bedrooms 8

Year Built 1932

Annual Tax Amount $10,760

Tax Year 2023

Lot Dimensions 30X125

Property Sub-Type Two to Four Units

Property Description

Rare Investment Opportunity in Edgewater! Welcome to 5791 N Ridge Ave - a beautifully maintained legal 4-unit brick building offering strong rental income and long-term value. With extensive updates throughout, this is a true turnkey property ideal for both seasoned investors and first-time multi-unit buyers. The building features three spacious 2 bed / 2 bath units, plus a 2 bed / 1 bath garden apartment. Each unit offers hardwood floors, stylish kitchens, updated bathrooms, in-unit laundry. 1st, 2nd, and 3rd floor each has a gas fireplace and individual mechanicals. Major capital improvements include: * 2010 full remodel: new electrical, plumbing, building & garage roofs, 4 boilers, 4 A/C units, and all new appliances * Furnace upgrades: 3rd floor (2010), basement (2011), 2nd floor (2013) * Ongoing updates: dishwashers, microwaves, washers/dryers, hot water heater (2022), garage tuckpointing (2011), masonry repairs (2023) * Iron fence (2016) adds curb appeal and privacy Located in Edgewater, a highly desirable lakefront community with strong rental demand, just minutes from Loyola University, the lakefront, public transportation, shops, and restaurants. Currently, the building is self-managed, and the saving is then passed on to the tenants. The current rent is below market value because tenants are long-time, stable tenants. A rare opportunity to own an income-producing asset in one of Chicago's consistent North Side rental markets. Don't miss it!

Location

State IL

County Cook

Area Chi - Edgewater

Zoning MULTI

Rooms

Basement Partially Finished, Exterior Entry, Full

Interior

Heating Forced Air

Fireplace N

Exterior

Garage Spaces 2.0

Community Features Curbs, Sidewalks, Street Lights, Street Paved

Building

Dwelling Type Two to Four Units

Building Description Brick,Other, No

Sewer Public Sewer

Water Lake Michigan

Structure Type Brick,Other

New Construction false

Schools

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition None

Virtual Tour https://www.hommati.com/3DTour-AerialVideo/unbranded/5791-N-Ridge-Ave-Chicago-Il-60660--HPI55120961

Listed by Sharon Luo • RE/MAX Suburban

Lorenzo Sanchez

+1(773) 419-1724

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