Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    901 Ridge Rd Wilmette, IL 60091

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $985,000

    Prime Wilmette location, 7-unit building, high traffic.

    Property size:
    5,600 SF

    Property Features for 901 Ridge Rd

    General Information

    Property type
    Mixed-use properties
    Square Feet
    5,600 SF

    Building Details

    Year Built
    1907

    We can help!

    Listing Contact
    Harmony Zhang

    Listing Agency: @properties Christie's International Real Estate Listing Agent: Harmony Zhang

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 5,600-square-foot mixed-use building at 901 Ridge Road, Wilmette, IL, presents a rare investment opportunity. Situated on a 6,600-square-foot lot with NR zoning, this two-story building boasts a classic façade and high ceilings. The property enjoys unparalleled visibility and high traffic counts, with 17,500 vehicles daily on Lake Avenue and 6,700 on Ridge Road. The ground floor features two retail storefronts: a vacant 1,600+ square-foot medical clinic (suitable for various retail or professional uses) and a long-term tenant hair salon/barbershop. The second floor comprises a two-bedroom, one-bathroom apartment and two fully rented offices. An additional three-bedroom, one-bathroom apartment with a den is located in the attic. The building generates $5,010 in monthly rental income (excluding the vacant clinic). Amenities include five electric meters, an eight-space rear parking lot, a recently replaced roof, and a basement for storage. Conveniently located near the Wilmette Metra train, Pace bus stops, and the Edens Expressway. The property includes 903 Ridge Road but excludes 905 Ridge Road. Serious offers will be considered.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Skin Care Clinic Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilmette
    County
    Cook
    State
    Illinois
    Longitude
    -87.72285
    Latitude
    42.0792

    Nearby Similar for Sale

    • $850,000

      Wilmette Investment Property with Parking

      Single tenant property with buildable parking lot in Wilmette.
      819 Ridge Rd, Wilmette, IL 60091
      View Details
    • $310,000
      855 SF

      Historic Landmark Retail Building

      Retail building for sale, ground lease with renewal potential.
      351 Linden Ave, Wilmette, IL
      View Details
    • $450,000
      1,000 SF

      Wilmette Medical Office Condo - Lake Ave

      Prime Wilmette location, 1000 sq ft, high visibility.
      1921 Lake Ave, Wilmette, IL 60091
      View Details
    • $895,000
      1,936 SF

      Wilmette Retail Investment Opportunity

      Prime Wilmette storefront, strong tenant, high NOI.
      819 Ridge Rd, Wilmette, IL 60091
      View Details
    • $310,000
      855 SF

      Wilmette Retail Building - $310K

      Historic landmark retail space, prime location.
      351 Linden Ave, Wilmette, IL 60091
      View Details
    • $985,000
      5,600 SF

      901 Ridge Rd

      Individual retail properties • 5,600 SF
      901 Ridge Rd, Wilmette, IL 60091
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Prime Wilmette location, 7-unit building, high traffic.
    Where is this mixed-use property located?
    The property is located at 901 Ridge Rd Wilmette, IL.
    What is the asking price?
    The asking price for this property is $985,000.
    (312) 254-0200
    Request Owner's contact information
    901 Ridge Rd Wilmette, IL 60091
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    901 Ridge Rd
    Wilmette, IL 60091
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    901 Ridge Rd Wilmette, IL 60091
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Harmony Zhang
    (312) 254-0200
    Learn more
    Google sign-in failed. Please try again or use another login method.