7800 South Ridgeland AvenueChicago, IL 60649Sale Price: $1,175,000

  • Sale Price: $1,175,000
  • 3 Days Since Sale
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Federal 30-year interest rate: 3.56% last updated on Jan 20, 2022
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 1924Year Built

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The Neistat Group and Jameson Commercial are pleased to present the exclusive sale of 7800 S Ridgeland, a thirteen (13) unit property in Chicago's hottest rental market, South Shore. Located three (3) miles from the University of Chicago / Hyde Park and nine (9) miles from Downtown, the location has easy access to I90, I94, and Dusable Lake Shore Drive. Purchased in 2015, 7800 S Ridgeland in 2015, the current owners did an extensive rehab, costing close to $600,000 ($50,000 per unit). These improvements consist of but are not limited to a new roof, individual gas furnaces and hot water tanks, copper plumbing, and new electrical. In addition, the owners have meticulously kept the building; as recently as 2021, tuck pointed the entire western wall and chimney. 7800 S Ridgeland is the true definition of a Turnkey asset with long-term tenants and under-market rents. An investor is acquiring this asset with the opportunity to increase to NOI and capitalize on a solid tenant base. Additionally, with the Obama Presidential Library breaking ground and announcing a $61M entertainment studio half (.5) a mile west, the neighborhood is slated further to appreciate.

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Listed by Matthew Neistat of Jameson Sotheby's Intl Realty

Listing Sold by KBM Realty

Based on information submitted to MRED  as of January 21, 2022 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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