2203 S Ridgeway Avenue
Chicago, IL 60623

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Description

Presenting 2203-07 S Ridgeway Ave., a well-maintained 8-unit corner apartment building located in Chicago's desirable Little Village neighborhood. The property is comprised entirely of two-bedroom, one-bathroom units, providing consistent layouts that are attractive to both tenants and owners. Many of the apartments have been recently renovated with modern finishes, including granite countertops, new cabinetry, updated bathrooms, individual furnaces and hot water heaters, and new or refinished hardwood flooring. These improvements position the property well for strong rental performance with additional upside potential. Ideally located just one block from the CTA #21 bus line and approximately half a mile from the CTA Pink Line, the building offers excellent access to public transportation, further enhancing tenant demand. This property represents a solid value-add investment opportunity in a growing neighborhood with strong and stable rental demand.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60623
• Year Built: 1914
• Stories: 2
• Units: 8 units
• Basement: Unfinished
• # Of Ranges: 8
• # Of Refrigs: 8
• Approximate Age: Older
• Built Before 1978 (Y/N): Yes
• Construction Materials: Brick
• Directions: At the southeast corner of W Cermak Rd and S Ridgeway Ave
• Electric: Circuit Breakers, Separate Meters
• Electric Expense: 467
• Expense Year: 2025
• Fuel Expense: 793
• Gross Income: 105720
• Gross Rent Multiplier: 9.6
• Gross Scheduled Income: 98739
• Heat/Ventilation: Individual Furnaces
• Information: 48-Hr Notice Required
• Insurance Expense: 7258
• Janitor Expense: 1440
• Known Encumbrances: None Known
• Main Type: Commercial Sale
• Maintenance Expense: 2400
• Operating Expense: 29527
• Other Expense: 8745
• Outdoor Parking: None On Site
• Roof Structure: Flat
• Tax Annual Amount: 11291
• Tax Year: 2024
• Tenant Pays: Electricity, Heat
• Total Annual Expense Source: Actual
• Total Monthly Income: 8810
• Trash Expense: 2958
• Type Multi-Family: Corridor-Interior Entrance
• Water Sewer Expense: 4000