NOT LISTED FOR SALE

5771 N Ridge Ave Chicago, IL 60660

Edgewater Neighborhood
-- Bed
15 Baths
10,775 Sq Ft
2008 Built

Last Sold May 15, 2023

Last sale price $2,100,000 $195 Per Sq Ft

20 Days on Market

About This Home

As of May 2023

Luxury, income producing property in Fantastic Edgewater location. 6 unit building with nearly $200k in gross annual income with condo quality units. Building features 2 duplex down 3 bed 3 bath units on 1st level, 2 simplex 3 bed 2 bath units on 2nd level and 2 additional duplex up units on 3rd and 4th levels. Rents ranging from $2500-$3000 with mulitiple, long term tenants. Also prime opportunity for condo conversion with attached garage parking spots and roof deck possibilities. Modern finishes throughout with kitchens featuring Viking appliances, Brookhaven cabinetry and granite tops.Stone baths, hardwood floors and in unit laundry. Easy access to Byrn Mawr el and shops, Edgewater Beach and short walk to Andersonville shops boutiques and nightlife. A fantastic, turnkey opportunity!

Last Agent to Sell the Property

Brett Huelat

CL3 Property Management License #475123026 Listed on: 02/28/2023

Co-Listed By

Paul DeLegge

CL3 Property Management

Last Buyer's Agent

Jason Huang

Keller Williams Experience License #475193304

Keller Williams Experience

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $20,583

Year Built

  • Built in 2008

Parking

  • 6 Parking Spaces

Interior Spaces

  • 4-Story Property

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Gas

Listing and Financial Details

  • Tenant pays for air conditioning, electricity, heat

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $646
  • Insurance Expense $6,171
  • Other Expense $1,621
  • Trash Expense $6,046
  • Water Sewer Expense $3,176
  • Operating Expense $39,817
  • Gross Income $197,400
  • Net Operating Income $156,383

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$20,583

Year Built

Built in 2008

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Condo/Townhouse
  • Stories: 4
  • Year Built: 2008
  • Built Before 1978 (Y/N): No
  • Information: List Broker Must Accompany
  • Estimated Age: 7-15 Years
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Possible Use: Condominium, Multi-Family
  • Fireplaces: 6
  • Dishwashers: 6
  • Refrigerators: 6
  • Ranges: 6
  • Number of Washers: 6
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • List Price: 2200000
  • Exterior Building Type: Brick,Glass,Stone,Other

Garage/Parking

  • ParkingTotal: 6
  • Outdoor Parking: None On Site
  • Indoor Parking: 6-12 Spaces

Utilities

  • Cooling: Central Air
  • Heat/Ventilation: Forced Air,Gas

Condo/Co-op/Association

  • Owners Association (Y/N): No

Fee Information

  • Trash Expense: 6046
  • Water Sewer Expenses: 3176
  • Janitor Expense: 1575
  • Operating Expense Includes: Insurance,Security,Trash,Utilities,Water/Sewer,Real Estate Tax,Telephone

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 122X44X20X49X100 (IRREGULAR)

Rental Info

  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Board Number: 8
  • Tenancy Type: Leases

Multi Family

  • Net Operating Income: 156383
  • Insurance Expense: 6171
  • ElectricExpense: 646
  • GrossIncome: 197400
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 39817
  • Expense Year: 2022
  • Type Multi-Family: Condo/Townhouse

Tax Info

  • Tax Annual Amount: 20583
  • Tax Year: 2021

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/15/2023 05/15/23 Sold $2,100,000 -4.5% $195 / Sq Ft
03/21/2023 03/21/23 Pending -- -- --
02/28/2023 02/28/23 For Sale $2,200,000 -- $204 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Brett Huelat

    Seller's Agent in 2023

    Brett Huelat

    CL3 Property Management

    (773) 636-4839

    2 in this area

    100 Total Sales

    Section Image

  • P

    Seller Co-Listing Agent in 2023

    Paul DeLegge

    CL3 Property Management

    (708) 522-7306

    1 in this area

    30 Total Sales

    Section Image
  • Jason Huang

    Buyer's Agent in 2023

    Jason Huang

    Keller Williams Experience

    (630) 890-8923

    1 in this area

    25 Total Sales

    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11727247

Midwest Real Estate Data (MRED)

APN: 14053120200000

Illinois Cook County Chicago 60660 Edgewater

5771 N Ridge Ave, Chicago, IL

This home is located at 5771 N Ridge Ave, Chicago, IL 60660 since 28 February 2023. This property was built in 2008. 5771 N Ridge Ave is a home located in Cook County with nearby schools including Peirce School of International Studies, Senn High School, and Passages Elementary Charter School.

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