FOR SALE
$699,900

5740 N Ridge Avenue
Chicago, IL 60660

Mixed Use
Residence
N/A
Acre Lot
1of
Photos
Map
Courtesy: Baird & Warner
CB Today> Illinois> Chicago> 60660
Located in Edgewater/Andersonville at the lighted intersection of Ridge and Glenwood, the 4,356 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 (plant has never been on site), 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 on Glenwood or allows for a developer to completely re-imagine the property - a huge bonus with plumbing, sewer, electrical, etc already serving the site. **** In meetings with the Alderman, he is supportive of development on this corner and is favorable to increasing allowable height for multi-family units 2BR's and more. Alderman will not allow Liquor sales on the premises at this location. Multiple Addresses. Currently owner/user property but HUGE ADD VALUE OPPORTUNITY!
11074648
Mixed Use, 1 Story
Cook
1920
1
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The scores below measure the walkability of the address, access to public transit of the area and the convenience of using a bike on a scale of 1-100

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