- List Price $695,000
- Price / Unit $139,000
- Property Type Two – Four Unit
- Units 5
- Current Rents $73,800
- Pro Forma Rents $93,000
- In Place NOI $38,400
- Projected NOI $56,256
- Target CAP Rate 6%
- Market CAP Rate 6%
- Today's Market Value $703,000
- Value w/Market Rents $994,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
- 10
- 5
- 7956
- 1971
- 100%
- 8
- 2
- Boiler Heat
- Window Units
- Common, Paid
10
5
7956
- 1971
- 100%
- 10
- 2
- Boiler Heat
- Boiler Heat
- Common, Paid
About the property
The subject property is well-maintained All brick, Zoned 4-unit building with a Legal 5th Garden unit! Great potential for an Owner Occupant Investor! This building is located in the highly sought after Chicago Ridge area. This building has been taken care of well of with windows less than 5 year old, a 10-year old roof in great shape with a brick exterior that is in great shape! The property also sits on an oversized lot with plenty of parking for you and your tenants. The property consists of four 2-bedroom units along with an additional Legal 2-bedroom garden unit. All units are in clean, standard rentable condition. Chicago Ridge presents an attractive opportunity for investors seeking a vibrant neighborhood with significant growth potential.
About the neighbourhood
- Chicago Ridge is a suburb located southwest of Chicago, Illinois, in Cook County. With its proximity to the city and a range of amenities, Chicago Ridge offers residents a suburban lifestyle with easy access to urban conveniences. Here's an overview covering various aspects of the area. Chicago Ridge's economy is diverse, with a mix of retail, healthcare, and service industries. The Chicago Ridge Mall serves as a significant commercial hub in the area, offering various shopping and dining options. Additionally, there are numerous small businesses and professional services contributing to the local economy.
Municipality - Investor Guide
Chicago Ridge
| Transfer Stamps | Pre Sale Inspection | Yearly Rental Inspection | |
|---|---|---|---|
| Buyer: N/A | Cost: - | Required: Yes | Required: Yes |
| Seller: N/A | Cost: - | Cost: $50.00 | Cost: Varies |
For a list of all Municipality requirements visit our Municipality Requirements Page
Property Documents
Property Financials
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Utility Table
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Property Taxes
| 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|
| Tax Amount | $8,228.92 | $14,961.67 | $14,708.82 | $14,655.65 |
| YOY Tax Change ($) | -$6,732.75 | +$252.85 | +$53.17 | +$640.86 |
| YOY Tax Change (%) | -45.00% | +1.72% | +0.36% | +4.57% |
| Current Assessed Value | $39,623 | Source - Public Record For more information on assessments, property taxes, and tax appeals visit: Property Taxes | Assessed - Land | $4,376 | Assessed - Improved | $35,247 |
For more information on assessments, property taxes, and tax appeals visit: Property Taxes
Walkscore
Nearby
- Arts & Entertainment
-
ART BAE NAE (0.33 mi)
-
Holy Family Catholic Bookstore (0.56 mi)
-
Rust-Oleum (0.64 mi)
- Education
-
Headstart Pleasant Prairie (0.54 mi)
-
Sonnenberg Consultants ABA Clinic (0.53 mi)
-
DEAR Management Consulting Company (0.96 mi)
- Food
-
Kenosha Beef (0.48 mi)
-
Supervalu (0.31 mi)
-
Retail Outlet (0.57 mi)
- Health & Medical
-
Pt Plus (0.52 mi)
-
Dan Cornelius Master Level Reiki Practitioner (0.65 mi)
-
Key Counseling And Mental Health Services (2.03 mi)
Contact Information
- List Price $695,000
- Property Type Two – Four Unit
- Current Rents $73,800
- In Place NOI $38,400
- Target CAP Rate 6%
- Today's Market Value $703,000
- Price / Unit $139,000
- Units 5
- Pro Forma Rents $93,000
- Projected NOI $56,256
- Market CAP Rate 6%
- Value w/Market Rents $994,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
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Based on Citypoint’s communication with the seller, the price point listed is a price that the seller should be willing to transact at. Any terms for, or against, the seller can help/hurt this price level.
Many sellers have loan balances that need to be paid off at closing. If the seller’s net proceeds after commissions, taxes, closing fees, rent credits, security deposit credits, etc fall below their current loan balance the price will most likely be denied by the seller.
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