5791 N RIDGE AVE new Save Request In-Person Tour Request Virtual Tour
Chicago,IL 60660
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
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
Interior
Heating Forced Air
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
Special Listing Condition None
Virtual Tour https://www.hommati.com/3DTour-AerialVideo/unbranded/5791-N-Ridge-Ave-Chicago-Il-60660--HPI55120961