436 Ridgeland Ave Oak Park, IL 60302-4010

Property Details for 436 Ridgeland Ave

Year built

1921

Lot size

0.15 lot acres

Property type

Retail residential properties

APN

16-08-318-003

APU

1608318003

Description

This exceptional investment opportunity presents a 2-story, 11-unit apartment building at 436 S Ridgeland Ave, Oak Park, IL 60302. Boasting a total net rentable area of 9,720 square feet, the property offers a compelling mix of unit types, including one studio, four one-bedroom, and six two-bedroom units. All units have been updated, contributing to the building's strong 100% occupancy rate. The building features common laundry facilities for resident convenience, and a recently replaced (2023) hot water tank ensures efficient operation. The property enjoys a prime location in central Oak Park, just steps from Julian Middle School and close to the highly-regarded Fenwick High School. Its proximity to the CTA Green Line and bus routes, along with the abundance of shopping, grocery, and retail options along Madison Street, enhances its appeal to both residents and investors. The property has a strong financial performance, with a Net Operating Income (NOI) of $127,224 and a 7.88% capitalization rate. This represents a first-time sale in over 40 years, presenting a rare chance to acquire a well-maintained, high-performing asset in a desirable location. The asking price is $1,615,000, translating to $146,818.18 per unit. The Cook County APN is 16-08-318-003-0000. This is a turnkey investment ready for immediate income generation.

Location Insight

City

Oak Park

County

Cook

State

Illinois

Longitude

-87.7842

Latitude

41.8803

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments