Edgewater Turnkey Two-Unit
6129 N Ravenswood Ave, Chicago, IL 60660
Fully rehabbed duplex in Edgewater, leased until 2027.
Type:Multifamily
Property size:
4,000 SFPrice / SF:
$282/SF- Added:
- Jan 4, 2026
- Days on Market:
- 183
- Last Refresh:
- Mar 21 at 8:32 pm
Property Features for 6129 N Ravenswood Ave
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Property subtype
- Multifamily
Listing office Fulton Grace
Listing date Jan 4, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Fulton Grace
HighLights
- Turnkey, fully rehabbed two‑unit property in Edgewater.
- Both units are leased until the summer of 2027, providing immediate rental income.
- Located steps from the Peterson/Ridge Metra station, offering easy access to downtown and the lake.
- Features open‑concept living spaces, hardwood floors, high ceilings, and abundant natural light.
- Includes versatile office spaces/dens in each unit, ideal for work‑from‑home or flexible living.
- New mechanicals, plumbing, electrical, HVAC, windows, and roof ensure worry‑free ownership.
Overview
This fully renovated two-unit property is located in Edgewater and features two duplex units. Both units are leased until the summer of 2027, making it suitable for investors seeking a turnkey asset. Each unit includes open-concept living spaces, hardwood floors, high ceilings, and natural light. Versatile office spaces and dens accommodate work-from-home needs or provide additional living space. The kitchens are equipped with quartz countertops, stainless steel appliances, and custom cabinetry. Modern bathrooms complement the home's aesthetic. The lower level offers flexible space for a family room, home offices, or guest suites. The renovation encompasses new mechanicals, plumbing, electrical, HVAC, windows, and roof. A large two-car garage includes a bonus space suitable for a studio or storage. A patio area provides outdoor living and entertaining possibilities. The property is located near the Peterson/Ridge Metra station, offering access to downtown and the lake, and is within walking distance of Andersonville's shops, dining, and nightlife. The property size is 4000 square feet.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $100.8k | $25.20 |
| − Vacancy | −$5.5k | −$1.39 |
| EGI | $95.3k | $23.81 |
| − OpEx | −$28.6k | −$7.14 |
| NOI | $66.7k | $16.67 |
4,000 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$952.6K
$833.5K – $1.11M
NOI $66,679 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$876.0K
$766.5K – $1.02M
NOI $61,317 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,019 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6744628
- Latitude
- 41.9929463
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Fully rehabbed duplex in Edgewater, leased until 2027.
Where is this duplex located?
The property is located at 6129 N Ravenswood Ave Chicago, IL.
What is the asking price?
The asking price for this property is $1,129,000.
What are key features of this property?
This property features: Turnkey, fully rehabbed two‑unit property in Edgewater.; Both units are leased until the summer of 2027, providing immediate rental income.; Located steps from the Peterson/Ridge Metra station, offering easy access to downtown and the lake.
