Sold
Last Sold Price
15 beds
1509 S Ridgeway Ave, Chicago, IL 60623
Multi FamilyProperty Type
4,687 sq ftLot Size
1916Year Built

Description

Excellent investment opportunity in Chicago's revitalizing North Lawndale neighborhood! 1509 S Ridgeway is a solid brick 6-unit multifamily building offering a strong mix of unit layouts and incredible income potential. This stately 1916 structure features three spacious 3-bedroom, 1-bath units and three well-sized 2-bedroom, 1-bath units-totaling 15 bedrooms and 6 full bathrooms across the property. Several units have been recently updated with modern finishes including dark wood cabinetry, granite...Excellent investment opportunity in Chicago's revitalizing North Lawndale neighborhood! 1509 S Ridgeway is a solid brick 6-unit multifamily building offering a strong mix of unit layouts and incredible income potential. This stately 1916 structure features three spacious 3-bedroom, 1-bath units and three well-sized 2-bedroom, 1-bath units-totaling 15 bedrooms and 6 full bathrooms across the property. Several units have been recently updated with modern finishes including dark wood cabinetry, granite countertops, stylish tile backsplashes, vinyl plank flooring, and refreshed bathrooms, while others offer room for value-add upgrades. Ideal for both seasoned investors and those new to multifamily ownership, this property is located in a designated Opportunity Zone and Enterprise Zone 1, offering generous tax incentives and future appreciation potential. The full basement presents additional storage or possible expansion opportunities. The building sits on a wide lot with a gated yard and has a front-facing entry on a quiet residential block. Located just steps from Herzl Elementary School and within easy reach of public transportation, parks, and local amenities, this property benefits from strong rental demand and long-term tenant appeal. North Lawndale is a community on the rise, with recent investments in housing, infrastructure, and community development driving increased interest and growth. Central air in rear units only. refrigerators in 2F and 3F only. This property is being conveyed AS IS and is priced accordingly.

    Sold By Chicago's Real Estate Agency

    • Listed by: Anthony Erangey 309.369.1616 anthony@yourhomegroupchi.com • Baird & Warner
    Listing closed: 12/01/2025 12:00 AM • Source: MRED as distributed by MLS GRID, MLS#: 12310046

    Recent comparable sales

    Median sold price

    $585,000

    Avg days on market

    60

    Sale-to-list ratio

    98.8%

    Chicago, IL

    9 comparable properties found

    $515,000 | 1143 South St Louis Avenue, Chicago, IL 60624
    1/7
    1

    $515,000

    Sold 09/27/24

    15
    Bedrooms
    Unavailable
    Square Feet
    0.06
    Acres
    a front view of a multi story building
    1/41
    2

    $635,000

    Sold 12/31/25

    15
    Bedrooms
    Unavailable
    Square Feet
    0.07
    Acres
    a tall building sitting on the side of a street
    1/9
    3

    $650,000

    Sold 07/07/25

    15
    Bedrooms
    Unavailable
    Square Feet
    0.09
    Acres
    a front view of a house with a yard
    1/12
    4

    $300,000

    Sold 10/01/24

    15
    Bedrooms
    Unavailable
    Square Feet
    0.11
    Acres
    a front view of a residential apartment building with a yard
    1/14
    5

    $585,000

    Sold 11/14/25

    15
    Bedrooms
    Unavailable
    Square Feet
    0.14
    Acres
    a front view of a building
    1/15
    6

    $600,000

    Sold 08/14/25

    14
    Bedrooms
    Unavailable
    Square Feet
    0.09
    Acres
    a view of a kitchen with a dishwasher and cabinets
    1/12
    7

    $495,000

    Sold 02/20/26

    15
    Bedrooms
    Unavailable
    Square Feet
    0.07
    Acres
    $545,000 | 4142 West Jackson Boulevard, Chicago, IL 60624
    1/11
    8

    $545,000

    Sold 08/22/25

    15
    Bedrooms
    Unavailable
    Square Feet
    0.06
    Acres
    $600,000 | 2702 West 24th Street, Chicago, IL 60608
    1/11
    9

    $600,000

    Sold 12/26/25

    16
    Bedrooms
    Unavailable
    Square Feet
    0.07
    Acres

    Location

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    $3,169 per month

    30 year fixed, 6.55% Interest

    Principal and Interest

    $2,796

    Property Taxes

    $373

    HOA Dues

    $0

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    Property Information for 1509 South Ridgeway Avenue

    Property Details
    • Taxes: $4,477 / year
    • MLS Type: Multi Family 5+ / Flats
    • County: Cook County
    • Area: CHI - North Lawndale
    • Township: West Chicago
    • Air Conditioning Type: Central Air
    • Zoning: MULTI
    Building Information
    • Stories: 3
    • Residences: 6
    • Year Built: 1916
    • Lot Size: 0.11 AC / 4,687 SF
    General Information
    Addtl Parking Information
    • Outdoor Parking: 1-5 Spaces
    Location and General Information
    • Information: Show-Special Instructions,Other-See Remarks
    Taxes and HOA Information
    • Additional Parcels: No
    Property Information
    Interior Features
    • Basement Type: Unfinished
    • Air Conditioning: Central Air
    • Heat/Ventilation: Forced Air,Gas
    • # Of Refrigerators: 2
    • Num of Baths: 6.0
    Property/Lot Information
    • Owners Association: No
    • Built Before 1978: Yes
    • Approximate Age: Older
    • Multi-Family Type: Flats
    • Lot Size Source: County Records
    • Lot Dimensions: 25X125
    • Lot Size Square Feet: 4687.0
    • Stories: 3
    • Exterior Building Type: Brick
    • Construction: Brick
    • Roof Type: Tar/Gravel
    • Roof Structure: Flat
    • Building Area Total: 6411
    Property and Assessments
    • Possible Use: Multi-Family
    • Public Document Count: 2
    • Document Date: 2025-07-16T14:53:15
    • Photos Count: 27
    Miscellaneous
    • Current Use: Condominium
    • Land Amenities: Curbs and Gutters,Sidewalks
    • Location: In City Limits
    Virtual Tour/Additional Media
    • Virtual Tour: None
    • Virtual Tour YN: No
    Multi Family
    Multi-Family Information
    • Number Of Units Total: 6
    Income & Expenses
    • Electric Expense: $.00
    • Fuel Expense: $.00
    • Gross Income: $.00
    • Gross Scheduled Income: $.00
    • Insurance Expense: $.00
    • Maintenance Expense: $.00
    • Janitor Expense: 0
    • Total Monthly Income: 0
    • Net Operating Income: $.00
    • Operating Expense: $.00
    • Other Expense: $.00
    • Trash Expense: $.00
    • Water Sewer Expense: $.00
    Unit 1
    • Unit Type Baths Total: 1
    • Unit Type Beds Total: 3
    • Unit Type Type: Unit 1
    • Unit Type Units Total: 3
    Unit 2
    • Unit Type Baths Total: 1
    • Unit Type Beds Total: 2
    • Unit Type Type: Unit 2
    • Unit Type Units Total: 3
    Unit 3
    • Unit Type Beds Total: 0
    • Unit Type Type: Unit 3
    • Unit Type Units Total: 0
    Unit 4
    • Unit Type Beds Total: 0
    • Unit Type Type: Unit 4
    • Unit Type Units Total: 0
    Unit 5
    • Unit Type Beds Total: 0
    • Unit Type Type: Unit 5
    • Unit Type Units Total: 0
    Unit 6
    • Unit Type Beds Total: 0
    • Unit Type Type: Unit 6
    • Unit Type Units Total: 0
    Unit 7
    • Unit Type Beds Total: 0
    • Unit Type Type: Unit 7
    • Unit Type Units Total: 0

    Property History for 1509 South Ridgeway Avenue

    DateEvent & SourcePriceAppreciation
    Dec 1, 2025

    Sold

    MRED #12310046

    $550,000
    Nov 25, 2025

    Sold (Public Record)

    Public Record #1922563012

    $550,000
    Oct 11, 2025

    Pending

    MRED #12310046

    DateEvent & SourcePrice
    12/01/2025

    Sold

    MRED #12310046

    $550,000
    11/25/2025

    Sold (Public Record)

    Public Record #1922563012

    $550,000
    10/11/2025

    Pending

    MRED #12310046

    For completeness, we often displays two records for one sale: the MLS record and the public record.

    Public Records for 1509 South Ridgeway Avenue

    Taxable ValueLand$6,796Additions$35,204Total$42,000
    Tax Record2023$4,478 ($373 / month)
    Home Facts
    Baths6Total Finished SqFt6,411 SqFtAbove Grade Finished SqFt6,411 SqFtStories3Lot Size4,687 SqFtStyleMulti-Family Res (5+ Units)Year Built1916CountyCOOKAPN16-23-127-003

    Schools near 1509 South Ridgeway Avenue

    This home is within Chicago Public Schools.
    Rating
    School
    Type
    Grades
    Distance
    Public - PK to 8
    Public - 9 to 12
    Charter - K to 8
    Charter - 9 to 12
    Rating
    School
    Distance
    Herzl Elementary School
    PublicPK to 8

    Farragut Career Academy High School
    Public9 to 12

    KIPP Chicago Chrtrs - Ascend Acad
    CharterK to 8

    YCCS-CCA Academy HS
    Charter9 to 12

    School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

    Neighborhood Map and Transit

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    No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

    Listing Courtesy of Baird & Warner

    Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 12/01/2025 04:55 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.