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5471 S Ridgewood Court Chicago, IL 60615
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Key Details
Sold Price $1,250,000
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Sold
Purchase Type For Sale
Square Footage 5,754 sqft
Price per Sqft $217
MLS Listing ID 12042473
Sold Date 07/10/24
Year Built 1909
Annual Tax Amount $15,565
Tax Year 2022
Lot Size 3,484 Sqft
Lot Dimensions 50 X 77.6
Property Description
Rarely available, turnkey, all brick, 6-unit, apartment building in prime Hyde Park location! This is an amazing opportunity with a 6.5% NET CAP return at the list price! This classic, center entrance building is the perfect balance of timeless, Chicago architecture with modern convenience and updates throughout. The building is comprised of six (6) 2-bedroom / 1-bathroom apartments. All units are spacious and updated throughout. Features include modern style kitchens and baths, quartz counters, large living rooms, separate dining rooms, nice size bedrooms, custom lighting, insulated windows, refinished hardwood floors and back decks. Common areas have been enhanced with large individual storage units, newer on-site card payment laundry machines, perimeter video security system, well maintained and modernized zoned boiler system, updated exterior decks and professional landscaped expansive grounds. The building is perfectly located on a quiet, one-way street and very close to the University of Chicago campus, catering to both students and facility members. This building has been meticulously maintained by an experienced, professional, management company for many years. Tenants are satisfied here with many recently renewed leases, which will further increase rental income this year. This is a true arm-chair investment opportunity!
Location
State IL
County Cook
Zoning MULTI
Interior
Cooling Window Unit(s)
Fireplace Y
Exterior
View Y/N true
Roof Type Reflective Coating,Rubber
Building
Foundation Concrete Perimeter
Structure Type Brick
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Bought with Frank Lin • Everbright Enterprise Inc.