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7334 N Ridge Blvd
Chicago, IL 60645
Multifamily Property For Sale
·
40 Units
Property Facts
| No. Units | 40 | Building Size | 34,488 SF |
| Property Type | Multifamily | Average Occupancy | 92% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built/Renovated | 1966/2019 |
| Building Class | B | Parking Ratio | 1.33/1,000 SF |
| Lot Size | 0.59 AC | ||
| Zoning | RT-4 - 3-91 - Apartment Building Over Three Stories | ||
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.59 AC |
| Building Size | 34,488 SF |
| Average Occupancy | 92% |
| No. Stories | 4 |
| Year Built/Renovated | 1966/2019 |
| Parking Ratio | 1.33/1,000 SF |
| Zoning | RT-4 - 3-91 - Apartment Building Over Three Stories |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
Site Amenities
- Controlled Access
- Laundry Facilities
- Security System
- Bicycle Storage
- Elevator
- Maintenance on site
About 7334 N RIDGE BLVD , CHICAGO, IL 60645
1:1 parking! Solidly constructed 4+1-styled property built in 1979. Hallways on each floor have been remodeled with new laminate floors, paint, and light fixtures. Approximately 2/3 of the units have already been remodeled or upgraded. Recent Cap X includes new boilers (2 years), water tank (2 years), elevator hydraulic pump (1 year), canopy roof (2018), and parapet walls (2018). Basement has 40 new storage lockers currently not being rented out. Property is more turnkey than value-add, but can see NOI increase through more streamlined management, increased fees, rent growth, and remodeling/upgrading the remaining 1/3 of the units.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | $837.50 | 494 - 581 |
| 1+1 | 24 | $999.00 | 660 - 816 |
| 2+1 | 5 | $1,350 | 927 - 1,050 |
| 2+2 | 3 | $1,438 | 1,095 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $377,273 | |
| Land Assessment | $58,426 | Total Assessment | $435,699 |
Property Taxes
Parcel Numbers
Land Assessment
$58,426
Improvements Assessment
$377,273
Total Assessment
$435,699
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