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Listed by Ryan Luuof Real People Realty
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Est. payment /mo
6,381 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 6,381 sqft
MLS Listing ID 12690087
Year Built 1949
Annual Tax Amount $16,073
Tax Year 2024
Lot Size 8,276 Sqft
Lot Dimensions 66X124
Property Sub-Type Multi Family 5+
Property Description
Exceptional Investment Opportunity - Legal 5-Unit Building on an Extra-Wide Lot! Don't miss this rare opportunity to own a legal 5-unit apartment building situated on an oversized 66' x 124' lot in the highly desirable West Ridge neighborhood, just steps from Mather Park and Mather High School. All five apartments are located above grade, providing bright and comfortable living spaces. The building also features a rear addition currently used as a coin-operated laundry room and storage area, offering potential to be converted into an additional unit or other income-producing space (subject to zoning and municipal approval). The expansive lot includes a 2-car garage, 4 additional exterior parking spaces, and a large backyard with plenty of room to add more parking for additional rental income (subject to municipal approval) or create a beautiful outdoor gathering area and garden. Unit Mix: Three east-side units featuring 2 bedrooms + den and 1.5 bathrooms, andTwo west-side units featuring 2 bedrooms and 1.5 bathrooms. Building Features & Updates: Unit 1W features forced-air HVAC. The remaining units are heated by a well-maintained radiator system with window air conditioning units.Six updated electrical panels. Newer Weil-McLain boiler. Two gas meters: one dedicated to Unit 1W and one serving the common areas/building. Utilities: Tenant in Unit 1W pays their own gas and electric. Tenants in the remaining units pay their own electricity for lighting and electric cooking, while heat is provided by the building. The property has been well maintained by the current owner and is occupied by long-term tenants with below-market rents, presenting an outstanding value-add opportunity. A new owner can renovate the units over time, increase rents to market levels, and significantly improve cash flow and long-term returns. Whether you're looking to expand your investment portfolio or acquire a stable, income-producing property with tremendous upside, this West Ridge multifamily building is an opportunity you won't want to miss!
Location
State IL
County Cook
Zoning MULTI
Rooms
Basement None
Interior
Cooling Central Air, Window Unit(s)
Fireplace N
Exterior
Utilities Available Sewer Connected
View Y/N true
Building
Foundation Concrete Perimeter
Sewer Storm Sewer
Water Municipal Water
Structure Type Brick
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Joanna Lewkowicz
Designated Managing Broker | Owner | 471.018027 471018027
+1(708) 963-0011 | joanna@boutiquehomerealty.com