Sold
Last Sold Price
9 beds
3414 N Ridgeway Ave, Chicago, IL 60618
Multi FamilyProperty Type
4,791 sq ftLot Size
1925Year Built
2 carsParking Spaces

Description

Come check out this legal 3-unit building in Avondale on an huge lot! The Property currently features (2) 3br/1ba above grade units & (1) 2br/1ba + office garden unit. Garden unit is rented at $1,600/mo MTM & 1st floor 3br/1ba unit is rented at $2,050/mo through 6/30/24 and includes both garage spaces. Top floor unit will be kept vacant but could easily be rented at $2,200/mo - making this the perfect opportunity for an investor or owner-user at a stabilized cap rate of 7.24% just by filling the...Come check out this legal 3-unit building in Avondale on an huge lot! The Property currently features (2) 3br/1ba above grade units & (1) 2br/1ba + office garden unit. Garden unit is rented at $1,600/mo MTM & 1st floor 3br/1ba unit is rented at $2,050/mo through 6/30/24 and includes both garage spaces. Top floor unit will be kept vacant but could easily be rented at $2,200/mo - making this the perfect opportunity for an investor or owner-user at a stabilized cap rate of 7.24% just by filling the vacancy! The well-maintained building features off-street parking in front of the Property and a two-car garage in the rear of the Property. The Property features a newer roof overlay on the building and the garage (both completed in 2018). The Property also has newer electrical services and four (4) new water heaters have been installed over the last 2-3 years. Additionally, the Property has an on-site laundry facility and a flood control system in the front of the building.
Listing closed: 12/26/2023 12:00 AM • Source: MRED as distributed by MLS GRID, MLS#: 11899569

Recent comparable sales

Median sold price

$700,000

Avg days on market

27

Sale-to-list ratio

98.6%

Chicago, IL

9 comparable properties found

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Location

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Property Information for 3414 North Ridgeway Avenue

Property Details
  • Taxes: $10,165 / year
  • MLS Type: Two to Four Units / 3 Flat
  • County: Cook County
  • Area: CHI - Avondale
  • Township: Jefferson
  • Ownership: Fee Simple
  • Num Of Garage Spaces: 2.0
  • Heat/Fuel: Natural Gas, Radiator(s), Sep Heating Systems - 2+, Floor Furnace
Building Information
  • Residences: 3
  • Year Built: 1925
  • Lot Size: 0.11 AC / 4,791 SF
General Information
School Information
  • Elementary School District: 130
  • High School District: 130
  • Middle Or Junior School District: 130
Addtl Parking Information
  • Garage On Site: true
  • Garage Ownership: Owned
  • Garage Type: Detached
  • Parking: Garage
Property Information
Interior Features
  • Num Of Rooms: 17
  • Bedrooms Total: 9
  • Bedrooms (Below Grade): 0
  • Basement Type: Full
  • Bedrooms Possible: 9
  • Basement Description: Finished
  • # Full Baths in Building: 3
  • # Half Baths in Building: 0
  • Num of Baths: 3.0
Utilities / Equipment
  • Sewer: Sewer-Public
  • Water: Lake Michigan
Property/Lot Information
  • New Construction YN: No
  • Rebuilt: No
  • Rehabilitated: Yes
  • Rehab Year: 2022
  • Built Before 1978: Yes
  • Age: 91-100 Years
  • Lot Size: Less Than .25 Acre
  • Lot Dimensions: 4687SF
  • Total # Units in Building: 3.0
  • Waterfront: No
  • Exterior Building Type: Brick
  • General Information: None
  • North Coordinate: 3400
  • South Coordinate: 0
  • East Coordinate: 0
  • West Coordinate: 3700
  • 3 Br Un In Bldg: Yes
Property and Assessments
  • Public Document Count: 2
  • Document Date: 2023-10-03T16:05:40
  • Photos Count: 26
  • OpenHouse Count: 0
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Income & Expenses
  • Electric Expense: $450.00
  • Fuel Expense: $.00
  • Gross Income: $46,200.00
  • Insurance Expense: $3,200.00
  • Maintenance Expense: $2,000.00
  • Electric Expense Source: Owner Projection
  • Fuel Expense Source: Actual
  • Insurance Expense Source: Owner Projection
  • Other Addl Income: Coin Laundry
  • Other Expense Source: Broker Projection
  • Repairs-Decor Expense Source: Broker Projection
  • Trash Expense Source: Actual
  • Water Expense Source: Owner Projection
  • Net Operating Income: $27,685.00
  • Professional Management Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $2,200.00
  • Other Expenses $: 500
Unit 1
  • Unit Type Actual Rent: $1,600.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Lease Expiration Date: 00/00
Unit 2
  • Unit Type Actual Rent: $2,050.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 2
  • Lease Expiration Date: 6/24
Unit 3
  • Unit Type Actual Rent: $.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 3
  • Lease Expiration Date: 0

Property History for 3414 North Ridgeway Avenue

DateEvent & SourcePriceAppreciation
Dec 26, 2023

Sold

MRED #11899569

$720,000
Dec 4, 2023

Sold (Public Record)

Public Record #1524624415

$720,000

+15.8% / yr

Oct 17, 2023

Pending

MRED #11899569

DateEvent & SourcePrice
12/26/2023

Sold

MRED #11899569

$720,000
12/04/2023

Sold (Public Record)

Public Record #1524624415

$720,000

+15.8% / yr

10/17/2023

Pending

MRED #11899569

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

Public Records for 3414 North Ridgeway Avenue

Taxable ValueLand$20,389Additions$36,612Total$57,001
Tax Record2023$10,429 ($869 / month)
Home Facts
Baths2Total Finished SqFt2,784 SqFtAbove Grade Finished SqFt2,784 SqFtStories2Lot Size4,687 SqFtStyleMulti-Family Res (5+ Units)Year Built1924CountyCOOKAPN13-23-313-034

Schools near 3414 North Ridgeway Avenue

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

Schurz High School
Public9 to 12

ASPIRA Charter - Early College Pr
Charter9 to 12

Antonia Pantoja High School
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.

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Nearby home values

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 Horvath & Tremblay IL, LLC

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 12/27/2023 09:32 AM. 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.