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Property profile & analytics
FOR SALE
Retail space

2709 Ridgeland Ave Berwyn, IL 60402

0.08 ac lot Built 1948
Individually Owned 3-yr Hold Free & Clear
Property ID
US28-2673049
Property summary
AI-generated overview

This exceptional 2,750-square-foot commercial property at 2709 Ridgeland Avenue in Berwyn, Illinois presents a rare investment opportunity. Completely renovated in 2017 to accommodate a restaurant, the building boasts a modern, fully equipped prep kitchen, updated electrical and plumbing systems, a new furnace and air conditioning unit, and a compliant handicap-accessible bathroom. Two private offices provide ample space for administrative functions. Safety features include a recently installed fire alarm system. The property also benefits from new lighting and flooring throughout. Adding to its appeal is an attached two-car garage, providing convenient storage or workspace, and ample parking is available both on the street and in the rear. The building enjoys excellent visibility with 25 feet of frontage on bustling Ridgeland Avenue, surrounded by established businesses such as Quality Repair Shop, Pink Owl Cafe, Dorothy's, and V Bar. Its strategic location offers easy access to a large potential customer base, including the approximately 1,000 employees of nearby MacNeal Hospital, a mere five-minute drive away. Commuters will appreciate the property's proximity to the LaVergne Metra station, a seven-minute walk north, ensuring convenient access for staff and clients. This versatile property is perfectly suited for a restaurant, retail business, office space, or a variety of other commercial ventures. The asking price is $249,000.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1948
Lot 0.08 ac (3,402 SF)
APN 16-29-308-005
UPID US28-2673049
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Harvey P Weintraub · 3 yrs held
Harvey P Weintraub
since 2023
Last sale
$169,500
2 recorded transactions
2023
$169,500
2023
$90,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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