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2980 N Ridgeway Avenue

Chicago, IL 60618
  • $600,000
  • STATUS: Active Under Contract
  • ON SITE: 24 Days
  • MLS #: 11726786
Under Contract
UPDATED: 41 min ago
$600,000
  • 8
    BEDS
  • 0.08
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1909
County:

School Ratings & Info

School District:
299

Description

LEGAL 3 UNIT (CERT IS ON PHOTOS). Amazing first time investment with a true 7% cap rate when it was rented (was emptied out to give buyer flexibility). First and second floor units were renovated fully in 2015 - new kitchens, baths, light, HVAC, lights and floors. The floor plan on the first 2 units (attached to listing to) are three bedrooms, full bath, large office and utilities in unit. First unit has W/D in the unit. The legal attic has 2 bedrooms, family room, dining room and kitchen - there is room to upgrade the 3rd floor unit and get more money. All units are above grade and the home sits on a small crawl space. All three units pay there own utilities. Units are empty now incase of owner occupied, Short term rentals, or new year long leases. Rents were 1800, 1600 and 900 and were rented out from 2015 till now (there is room for increases - they are vacant now - removed the tenants so owner occupied buyers/short term rentals could be done). 2 car garage and nice backyard. Right off Milwaukee in Avondale - tons of retail, nightlife, public trans and very close to 90/94. Great investment for 3.5% down and live in the unit while cash flowing the other 2. Renters pay all electric and gas bills. Only owner costs are water (approx. 600 a year) and insurance (2200 a year). Laundry is only for 1st floor. Easy to add to other units if new owner wants 2. Recent improvements - new furnace in 1st unit, new water heater in 3rd unit, new electric board in 3rd floor furnace, new water line into building and new under pining/foundation. No Basement - just 4 ft crawl. Taxes 2021: 7873.57

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© 2023 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 John Lyons Real Estate | Baird & Warner. Based on information submitted to the MRED as of 2023-03-24T07:05:42.037 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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2980 N Ridgeway Avenue Chicago, IL 60618

  • Price: $600,000
  • Status: Active Under Contract
  • On Site: 24 Days
  • Updated: 41 min ago
  • MLS #: 11726786
8
Beds
0
Baths
0
½ Baths
0.08
Acres
1909
Built
Neighborhood:
Chi - Avondale
County:
Cook
Area:
Chi - Avondale
School District:
299
Property Description
LEGAL 3 UNIT (CERT IS ON PHOTOS). Amazing first time investment with a true 7% cap rate when it was rented (was emptied out to give buyer flexibility). First and second floor units were renovated fully in 2015 - new kitchens, baths, light, HVAC, lights and floors. The floor plan on the first 2 units (attached to listing to) are three bedrooms, full bath, large office and utilities in unit. First unit has W/D in the unit. The legal attic has 2 bedrooms, family room, dining room and kitchen - there is room to upgrade the 3rd floor unit and get more money. All units are above grade and the home sits on a small crawl space. All three units pay there own utilities. Units are empty now incase of owner occupied, Short term rentals, or new year long leases. Rents were 1800, 1600 and 900 and were rented out from 2015 till now (there is room for increases - they are vacant now - removed the tenants so owner occupied buyers/short term rentals could be done). 2 car garage and nice backyard. Right off Milwaukee in Avondale - tons of retail, nightlife, public trans and very close to 90/94. Great investment for 3.5% down and live in the unit while cash flowing the other 2. Renters pay all electric and gas bills. Only owner costs are water (approx. 600 a year) and insurance (2200 a year). Laundry is only for 1st floor. Easy to add to other units if new owner wants 2. Recent improvements - new furnace in 1st unit, new water heater in 3rd unit, new electric board in 3rd floor furnace, new water line into building and new under pining/foundation. No Basement - just 4 ft crawl. Taxes 2021: 7873.57
Exterior Features

Exterior Building Type Frame Foundation Details Concrete Perimeter Garage Details Garage Door Opener(S)7 Foot Or More High Garage Door Garage Onsite Yes Garage Ownersite Owned Garage Type Detached Is Parking Included In Price Yes Lot Size Standard Chicago Lot Multi Family Type 3 Flat Parking Details Garage Roof Asphalt Waterfront YN No

Interior Features

Basement Crawl Basement Bathrooms YN No Basement Details None Bathroom Garden Tub Bedrooms Below Grade 0 Bedrooms Total 8 Full Baths In Building 3 Half Baths In Building 0 Heating Natural Gas Room Type DenUtility Room-1St FloorUtility Room-2Nd Floor Rooms Total 15

Property Features

Additional Parcels YN No Age 100+ Years Built Before1978 YN Yes Community Features SidewalksStreet LightsStreet Paved Contingency Attorney/Inspection Continue To Show Yes Corporate Limits Chicago General Information None Mls Actual Status Contingent New Construction YN No Ownership Fee Simple Rebuilt Year 2015 Rebuilt YN Yes Rehab Year 2015 Sewer Public Sewer Special Listing Conditions None Tax Annual Amount 7873.57 Tax Year 2021 Total Numberof Unitsin Building 3 Township Jefferson Type Two To Four Units Water Source Lake Michigan Zoning Multi

Listing information © 2023 Midwest Real Estate Data LLC.
Listing provided courtesy of Berkshire Hathaway Homeservices Chicago: 312-944-8900.


© 2023 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 John Lyons Real Estate | Baird & Warner. Based on information submitted to the MRED as of 2023-03-24T07:05:42.037 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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