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GenoPetro.House
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GenoPetro.House
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showings@
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5740 N Ridge Avenue,  Chicago IL, 60660

(Active)
$599,900
|
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MLS# 10562544
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Last Updated: 2/21/2020 9:36 PM
Description for 5740 N Ridge Avenue Chicago, IL 60660
Located in Edgewater/Andersonville at the lighted intersection of Ridge and Glenwood, the 4,000 sq. ft. property sits on a hard corner in a densely infill retail/residential corridor of Edgewater Glen. The property consists of a laundromat, an 825 sq. ft. space with 2 restroom and a 725 sq. ft, space with 1 bathroom - both spaces vacant spaces facing Glenwood need to be built out but will provide additional income. An investor may choose to develop the property into multi unit residential rentals or condominiums, as there is a high barrier of entry for both. Currently, a laundromat/dry cleaners, the property yields approximately $50K annually in income but has the potential for much more and offers a savvy investor the opportunity for stabilization by renovating the existing property, laundromat and renting the 2 vacant units within the building. Multiple Addresses. Currently owner/user property but HUGE ADD VALUE OPPORTUNITY!
Price
$599,900
Cook
10562544
Active
Description
Located in Edgewater/Andersonville at the lighted intersection of Ridge and Glenwood, the 4,000 sq. ft. property sits on a hard corner in a densely infill retail/residential corridor of Edgewater Glen. The property consists of a laundromat, an 825 sq. ft. space with 2 restroom and a 725 sq. ft, space with 1 bathroom - both spaces vacant spaces facing Glenwood need to be built out but will provide additional income. An investor may choose to develop the property into multi unit residential rentals or condominiums, as there is a high barrier of entry for both. Currently, a laundromat/dry cleaners, the property yields approximately $50K annually in income but has the potential for much more and offers a savvy investor the opportunity for stabilization by renovating the existing property, laundromat and renting the 2 vacant units within the building. Multiple Addresses. Currently owner/user property but HUGE ADD VALUE OPPORTUNITY!
Listing Information
Property Type: Mixed Use, Other
0.1 Acres 1920
Neighborhood
Room Information
Interior Features
Central Air
Forced Air
Exterior / Lot Features
None
108X89X50X65
OTHER
Driving Directions
On the corner of Ridge and Glenwood
Financial Considerations
14053220010000
$17,679
Listing Price History
sourceMLS

Chicago Real Estate

Chicago is located in Illinois. Chicago, Illinois 60660 has a population of 2,755,380.

The median household income in Chicago, Illinois 60660 is $41,313. The median household income for the surrounding county is $50,086 compared to the national median of $50,013. The median age of people living in Chicago 60660 is 38 years.

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Courtesy: Baird & Warner
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