Last Sold Price
18 beds
5771 N Ridge Ave, Chicago, IL 60660

Description

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...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!
LISTING CLOSED: 05/15/2023 12:00 AM

  1. Listed by Brett Huelat • CL3 Property Management
    P: (773)-227-2388 C: (773)-636-4839 bhuelat@cl3pm.com
  2. Listed by Paul De Legge • CL3 Property Management
    P: (708)-522-7306 C: (708)-522-7306 pdelegge@cl3pm.com

Sold By Keller Williams Experience

Property Details for 5771 North Ridge Avenue

Status
MLS #
11727247
Days on Market
23
Taxes
$20,583 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
MLS Type
Multi Family 5+ / Condo/Townhouse
Year Built
2008
Lot Size
-
Area
CHI - Edgewater
Num Of Parking Spaces
6.0
Air Conditioning Type
Central Air

Location

Add your commute

Building Information for 5771 North Ridge Avenue

Stories3Residences6Year Built2008Building Size-Lot Size-

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$12,389 per month

30 year fixed, 6.55% Interest

Principal and Interest

$10,674

Property Taxes

$1,715

HOA Dues

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Property Information for 5771 North Ridge Avenue

General Information
Addtl Parking Information
  • Indoor Parking: 6-12 Spaces
  • Outdoor Parking: None On Site
Location and General Information
  • Information: List Broker Must Accompany
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Central Air
  • # Of Washers: 6
  • Heat/Ventilation: Forced Air,Gas
  • # Of Refrigerators: 6
  • # Of Dryers: 6
  • # Of Dishwashers: 6
  • Num of Baths: 16.0
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Built Before 1978: No
  • Approximate Age: 7-15 Years
  • Multi-Family Type: Condo/Townhouse
  • Lot Dimensions: 122X44X20X49X100 (IRREGULAR)
  • Stories: 4
  • Exterior Building Type: Brick, Glass, Stone, Other
  • # Of Ranges: 6
Property and Assessments
  • Possible Use: Condominium, Multi-Family
  • Public Document Count: 0
  • Photos Count: 47
Miscellaneous
  • Current Use: Multi-Family
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: $646.00
  • Fuel Expense: $.00
  • Gross Income: $197,400.00
  • Gross Scheduled Income: $197,400.00
  • Insurance Expense: $6,171.00
  • Maintenance Expense: $.00
  • Electric Expense Source: Actual
  • Expense Year: 2022
  • Total Annual Expense Source: Combination
  • Insurance Expense Source: Actual
  • Janitor Expense: 1575
  • Net Operating Income Year: 2022
  • Other Expense Source: Broker Projection
  • Trash Expense Source: Actual
  • Total Monthly Income: 16450
  • Water Expense Source: Actual
  • Net Operating Income: $156,383.00
  • Operating Expense: $39,817.00
  • Other Expense: $1,621.00
  • Trash Expense: $6,046.00
  • Water Sewer Expense: $3,176.00
Unit 1
  • Unit Type Baths Total: 3
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 2
Unit 2
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 2
Unit 3
  • Unit Type Baths Total: 3
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 2
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 5771 North Ridge Avenue

DateEvent & SourcePriceAppreciation
May 15, 2023

Sold

MRED #11727247

$2,100,000
May 12, 2023

Sold (Public Record)

Public Record #1511468433

$2,100,000
Mar 21, 2023

Pending

MRED #11727247

DateEvent & SourcePrice
05/15/2023

Sold

MRED #11727247

$2,100,000
05/12/2023

Sold (Public Record)

Public Record #1511468433

$2,100,000
03/21/2023

Pending

MRED #11727247

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

Public Records for 5771 North Ridge Avenue

Taxable ValueLand$32,860Additions$170,180Total$203,040
Tax Record2023$21,596 ($1,800 / month)
Home Facts
Baths9Total Finished SqFt10,775 SqFtAbove Grade Finished SqFt10,775 SqFtStories3Lot Size5,300 SqFtStyleMulti-Family Res (5+ Units)Year Built2006CountyCOOKAPN14-05-312-020Fireplace TypeHas Fireplace

Schools near 5771 North Ridge 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
Public - K to 8
Rating
School
Distance
Peirce Elementary Intl Studies School
PublicPK to 8

Senn High School
Public9 to 12

Passages Elementary Charter School
CharterK to 8

Stone Elementary Scholastic Academy
PublicK to 8

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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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 CL3 Property Management

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 05/16/2023 10:54 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.