Closed
Last Sold Price
$950,000

1956 Ridge Rd, Homewood, IL 60430

Mixed UseProperty Type
0.24 acresLot Size
1919Year Built

Description

Great Investment opportunity in the heart of downtown Homewood. Value add opportunity with 8% CAP Rate on existing income. Long time owner put approx. $115K in capital improvements over the last 5 years. All roofs replaced within last 7 years and come with 15 year warranties. Most HVAC units have been replaced. Tuckpointing and facade repairs totaling $14K completed over the last couple ofyears. Located at the main intersection of Ridge Road and Dixie Highway. Approx. 9000 SF consisting of 5 Retail...Great Investment opportunity in the heart of downtown Homewood. Value add opportunity with 8% CAP Rate on existing income. Long time owner put approx. $115K in capital improvements over the last 5 years. All roofs replaced within last 7 years and come with 15 year warranties. Most HVAC units have been replaced. Tuckpointing and facade repairs totaling $14K completed over the last couple ofyears. Located at the main intersection of Ridge Road and Dixie Highway. Approx. 9000 SF consisting of 5 Retail units and 2 Apartments, and all fully rented and cash flowing. Annual gross income exeeding $128,000. Commercial tenants include travel agent, gourmet popcorn shop, long-time shoe repar, personal trainer and boutiqe shop/refillery. Highly desireable building in excellent location approx. 2 blocks from new metra station. New development all around include Wind Creek Casino, The Hartford, with 36 new residential units and restaurant and Homewood Brewing Company.
  • Listed by: Denise Raines 312.953.5780 Denise@RainesAdvisors.com • BHHS Chicago
Listing closed: 07/21/2023 12:00 AM • Source: MRED as distributed by MLS GRID, MLS#: 11757100
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Recent comparable sales

Median sold price

$425,000

Avg days on market

575

Sale-to-list ratio

61.0%

Homewood, IL

9 comparable properties found

a front view of a building with street view
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Location

Listing Courtesy of BHHS Chicago
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Property Information for 1956 Ridge Road

Property Details

  • Taxes: $24,395 / year
  • MLS Type: Commercial Sale
  • County: Cook County
  • Area: Homewood
  • Air Conditioning Type: Central Air
  • Zoning: RTAIL

Building Information

  • Stories: 2
  • Residences: 7
  • Year Built: 1919
  • Lot Size: 0.24 AC / 10,395 SF

General Information

Location and General Information
  • Frontage Type: Public Road, Signal Intersection
  • Geographic Locale: South Suburban
  • Information: List Broker Must Accompany,No Sign on Property
Taxes and HOA Information
  • Additional Parcels: No

Property Information

Interior Features
  • Air Conditioning: Central Air
  • Electric: Service - 101 to 200 Amps
  • Heat/Ventilation: Forced Air
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 2
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Air Conditioning, Electricity, Heat, Tax Stops, Varies by Tenant
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 99X105
  • Lot Size Square Feet: 10395.0
  • Stories: 2
  • Exterior Building Type: Brick, Stone
  • Construction: Brick, Stone
  • Roof Type: Membrane
  • Fire Protection: Sprinklers
  • Roof Structure: Flat
  • Building Area Total: 9500
  • # Of Offices: 1
  • Office SqFt: 2500
  • Other SqFt: 1786
  • Retail SqFt: 5250
  • # Of Stores: 4
Property and Assessments
  • Public Document Count: 0
  • Document Date: 2023-04-11T19:36:13
  • Photos Count: 35
Miscellaneous
  • Current Use: Commercial
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
  • Virtual Tour Date: 04-13-2023

Multi Family

Multi-Family Information
  • Number Of Units Total: 7
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $4,800.00
  • Gross Income: $128,694.00
  • Gross Scheduled Income: $128,694.00
  • Insurance Expense: $4,092.00
  • Expense Year: 2022
  • Total Annual Expense Source: Actual
  • Total Monthly Income: 10724
  • Net Operating Income: $85,729.00
  • Operating Expense: $42,965.00
  • Other Expense: $100.00
  • Trash Expense: $.00
  • Water Sewer Expense: $2,268.00

Property History for 1956 Ridge Road

DateEvent & SourcePriceAppreciation
Jul 21, 2023

Sold (Public Record)

Public Record #1515490800

$950,000

+5.0% / yr

Jul 21, 2023

Sold

MRED #11757100

$950,000
—
Jun 30, 2023

Pending

MRED #11757100

—
—
DateEvent & SourcePrice
07/21/2023

Sold (Public Record)

Public Record #1515490800

$950,000

+5.0% / yr

07/21/2023

Sold

MRED #11757100

$950,000
06/30/2023

Pending

MRED #11757100

—

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

Public Records for 1956 Ridge Road

Taxable Value

Land

$4,148

Additions

$56,452
Total$60,600

Tax Record

2023

$25,968 ($2,164 / month)

Home Facts

Beds

6

Baths

4.5

Total Finished SqFt

7,280 SqFt

Above Grade Finished SqFt

7,280 SqFt

Stories

2

Lot Size

10,369 SqFt

Style

Miscellaneous Residential

Year Built

1920

Year Renovated

1920

County

COOK

APN

29-31-400-054-0000

Schools near 1956 Ridge Road

This home is within Homewood Flossmoor Chsd 233 School District.
Rating
School
Type
Grades
Distance
Public - PK to 2
Public - 3 to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Willow School
PublicPK to 2

Winston Churchill School
Public3 to 5

James Hart School
Public6 to 8

Homewood-Flossmoor High School
Public9 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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Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 1956 Ridge Road, Homewood, IL 60430
$950,000
–
–
–
10,395
$450,000
–
–
5,115
–
$360,000
–
–
5,500
–
$350,000
–
–
1,211
–
$407,000
2
3
4,980
39,829
–
–
–
6,000
–

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 BHHS Chicago

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 05/18/2026 04:53 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.