6823-25 S RIDGELAND Avenue
Chicago, IL 60649

Tools & Resources:

Description

A recently improved 6-unit multifamily asset offering a blend of modern updates and remaining upside. With many units already renovated, a new owner can focus on rent optimization rather than heavy cap-ex, positioning this property for a strong refinance or resale following stabilization.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60649
• Year Built: 1916
• Sq.Ft.: 7,386 sq ft
• Stories: 3
• Units: 6 units
• Zoning: MULTI
• # Of Dryers: 1
• # Of Ranges: 4
• # Of Refrigs: 4
• # Of Washers: 2
• Approximate Age: Older
• Building Area Total: 7386
• Built Before 1978 (Y/N): Yes
• Construction Materials: Brick
• Directions: 69TH STREET EAST OR WEST TO RIDGELAND SOUTH TO PROPERTY
• Electric: Fuses
• Electric Expense: 462
• Electric Expense Source: Actual
• Foundation Details: Concrete Perimeter
• Fuel Expense: 657
• Fuel Expense Source: Actual
• Gross Income: 89520
• Gross Rent Multiplier: 6.62
• Gross Scheduled Income: 69120
• Heat/Ventilation: Central Bldg Heat, Radiators
• Indoor Parking: 1-5 Spaces
• Information: List Broker Must Accompany, 48-Hr Notice Required
• Insurance Expense: 5000
• Insurance Expense Source: Actual
• Janitor Expense: 1050
• Lot Size Square Feet: 6750
• Main Type: Commercial Sale
• Maintenance Expense: 1500
• Manager Expense: 3396
• Manager Expense Source: BP
• Operating Expense: 32066
• Other Expense: 3199
• Other Expense Source: Broker Projection
• Ownership Type: Individual
• Repairs-Decor Expense Source: Broker Projection
• Roof: Reflective Coating
• Roof Structure: Flat
• Tax Annual Amount: 6135
• Tax Year: 2023
• Tenant Pays: Electricity, Other
• Total Monthly Income: 5760
• Township: Hyde Park
• Trash Expense: 1972
• Trash Expense Source: Actual
• Type Multi-Family: Corridor-Exterior Entrance
• Water Expense Source: Actual
• Water Sewer Expense: 3125