- List Price $2,650,000
- Price / Unit $147,222
- Property Type Multifamily
- Units 18
- Current Rents $296,760
- Pro Forma Rents $332,100
- In Place NOI $196,308
- Projected NOI $ 227,514
- Target CAP Rate 6.88%
- Market CAP Rate 6%
- Today's Market Value $3,271,800
- Value w/Market Rents $3,319,000
*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.
- 28
- 18
- 14,500
- 1972
- 100
- 24
- 3
- Boiler Heat
- Window Units
- Common, Paid
28
18
14,500
- 1972
- 100
- 28
- 3
- Boiler Heat
- Boiler Heat
- Common, Paid
About the property
Prime Fully-Occupied 18-Unit Multifamily Investment in Chicago Ridge IL
Discover a rare opportunity to acquire a strong-performing 18-unit multifamily asset in the desirable and high-demand Chicago Ridge market. This well-maintained, fully-occupied property features a balanced mix of eight one-bedroom and ten two-bedroom units, appealing to a broad tenant base and ensuring consistent rental income.
Residents enjoy spacious open-layout units highlighted by nice vinyl flooring and attractive exposed brick accents. Each unit is equipped with baseboard heating and AC sleeve units, offering efficient year-round comfort. The building is serviced by a high-efficiency boiler system and provides private patios or balconies, adding to overall tenant satisfaction and retention.
Additional conveniences include on-site owned washers and dryers, ample in-unit storage, and off-street parking. The property is further enhanced with a monitored fire alarm system, nearby fire hydrant, and HD video security, offering peace of mind for residents and ownership alike.
With stable occupancy and an excellent suburban location near transportation, shopping, and local amenities, this asset presents an ideal opportunity for investors seeking reliable cash flow and long-term growth potential in a solid rental market.
About the neighbourhood
- Located in the sought-after southwest suburbs, Chicago Ridge offers the ideal blend of convenience, community, and stability—making it a highly desirable rental market for residents and investors alike. The property sits within a well-established residential area known for its quiet tree-lined streets, nearby parks, and strong local amenities. Residents benefit from excellent transportation access, including close proximity to major thoroughfares such as I-294, Harlem Ave, and 95th Street, along with the Chicago Ridge Metra Station providing a direct connection to downtown Chicago. Daily conveniences are just minutes away, with Chicago Ridge Mall, grocery stores, restaurants, and retail centers all within a short drive. Chicago Ridge is also home to top community services and public resources, including quality neighborhood schools, recreational facilities, and well-maintained public parks. The surrounding area continues to show strong rental demand, driven by its affordability, accessibility, and suburban lifestyle appeal while still being near major employment hubs. This stable, commuter-friendly location supports consistent occupancy, strong tenant retention, and enduring long-term investment value.
Municipality - Investor Guide
Property Documents
Property Financials
View current and future return metrics based on customizable inputs. "Annual Net Income", "Monthly Cash Flow", "Cash on Cash Return", "Equity Value", and "Equity Multiple" are based off of the "Year 2 Pro Forma" column inputs.
Property Current
This column shows the current financial state of the subject property. Some of these inputs may be estimations.
Year 2 Pro Forma
This column is based off of market rents and assumes proper property performance.
Debt Service
This column allows the user to add custom financing scenarios.
Mortgage Calculator
- Down Payment
- Loan Amount
- Monthly Mortgage Payment
- Monthly Property Tax
- Monthly Property Insurance
- Monthly HOA Fees
Utility Table
Currently No Utility data found for this property. Please Check back later.
Property Taxes
Currently No Tax data found for this property. Please Check back later.
Walkscore
Nearby
- Arts & Entertainment
-
Top Essay Writer (0.41 mi)
-
E & A Art Works (0.39 mi)
-
Almaz Salon and Spa (0.44 mi)
- Education
-
Professional Circle (0.44 mi)
-
Public Schools (0.43 mi)
-
Ridgeland Public Elementary School (0.43 mi)
- Food
-
Rosa's Pizza & Italian Restaurant (0.23 mi)
-
Ichiban (0.44 mi)
-
Mashawee Guy (0.46 mi)
- Health & Medical
-
Herbert User, MD - Specialized Urologic Consultants (0.36 mi)
-
Yaroi Robert MD (0.42 mi)
-
Motion Pain Center (0.44 mi)
Contact Information
- List Price $2,650,000
- Property Type Multifamily
- Current Rents $296,760
- In Place NOI $196,308
- Target CAP Rate 6.88%
- Today's Market Value $3,271,800
- Price / Unit $147,222
- Units 18
- Pro Forma Rents $332,100
- Projected NOI $ 227,514
- Market CAP Rate 6%
- Value w/Market Rents $3,319,000
*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.
Similar Listings
8
13
7
6969 Sq Ft
- Phu Nguyen
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.
Bid prices are subject to final seller confirmation. Seller confirmation is subject to a final buyer and seller signed contract.
Multiple bids from multiple parties may exist.
Submit An Offer
Fill out Citypoint‘s Submit offer Form below. When complete a Citypoint representative will contact you to discuss.
LOI Submission Form
Fill out Citypoint‘s LOI Request Form below. When complete a Citypoint representative will contact you to discuss.
Off-Market Application Form
Fill out Citypoint‘s Off-Market Appointment Request Form below. When complete a Citypoint representative will contact you to discuss.
Reserve property
OFF MARKET
INVENTORY
Fill out the application below to receive access to our off-market inventory & alerts on new off-market properties.
Why do I need to complete an investor application?
Many of our sellers choose to work with Citypoint due to the discretion provided when listing their property. They prefer not to alert tenants and/or neighbors that the property is being sold.
They also trust Citypoint in bringing qualified investors that are ready, willing and able to buy properties. This ensures an efficient transaction process for both the buyer and the seller.
Already working with a Citypoint team member? No problem! Contact your team member to receive the most up to date off-market inventory.