5744 N Ridge Avenue Active Save Request In-Person Tour Request Virtual Tour
Chicago,IL 60660
Key Details
Property Type Commercial
Sub Type Retail/Stores
Listing Status Active
Purchase Type For Sale
Square Footage 4,000 sqft
Price per Sqft $149
MLS Listing ID 12200531
Year Built 1916
Annual Tax Amount $31,197
Tax Year 2023
Lot Dimensions 107 X 88.5 X 66.2 X 23.85
Property Description
For User/Development Opportunity in Edgewater Glen/Andersonville. Offered for sale is a highly-visible, 4,000 SF, one-story retail property located at the signalized corner of Ridge and Glenwood...Situated in a densely populated residential corridor and zoned B1-2, the property is well-suited for conversion into multi-unit residential rentals or condominiums. Currently, the property houses an operating laundromat generating approx. $55K in annual revenue, with three additional vacant retail spaces. These include an 830 SF retail space with two restrooms, a 725 SF retail space with a bathroom, and a separate office/retail space with its own bathroom. Note: The two vacant retail spaces facing Glenwood are unfinished and will require build-out. Laundromat is fully operational-please do not disturb employees or management. There are two opportunities for the property (1) Build-out vacant spaces to stabilize cash flow. The location offers high visibility with significant daily traffic (30,100 vehicles per day) along Ridge Ave. (2) Tear down and build new residential rentals or condos. The location boasts excellent walkability with easy access to local shops, bus stops, and both CTA and Metra transit options. The property is located in a rapidly developing neighborhood with several new residential projects nearby, including 5691 Ridge and 5920 Ridge.
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling None
Fireplace N
Exterior
Utilities Available Electric Nearby
View Y/N true
Building
Foundation Concrete Perimeter
Structure Type Brick