3513 Ridge Rd Lansing, IL 60438
- Retail space
- 0.49 lot acres
Current Use by Public Records
- Subway / Fast Food Restaurant / Takeout Restaurant
Property Details for 3513 Ridge Rd
- Year built
- 1956
- Lot size
- 0.49 lot acres
- Property type
- Retail space
- Property subtype
- Storefront properties
- APN
- 30-32-307-013
- APU
- 3032307013
Description
This exceptional multi-tenant property, located at 3513 Ridge Rd, Lansing, IL 60438, presents a compelling value-add investment opportunity. The 15,961 square foot building, situated on a 0.51-acre lot, is a Class C, two-story structure with a mix of storefront, traditional office, and warehouse space. Currently boasting 91% occupancy, the property features 16 units, housing a diverse range of tenants including Subway, a martial arts studio, a military supply store, a cleaning service, and a pet supply business. The building underwent renovations in 2022. Its prime location in downtown Lansing, along Ridge Road (the historical Main Street), offers high visibility and convenient access. Ample parking is available on the side and rear of the building. The property benefits from its proximity to major roadways including Rt 83, I-294, I-80, and I-394, as well as local amenities such as the Lansing Country Club, Lan-Oak Park, and Park Plaza. The gross lease structure and multi-tenant occupancy provide a stable income stream. This is an ideal opportunity for investors seeking a well-located, multi-use property with significant upside potential. The property's Cook County APN is 30-32-307-013-0000. The asking price is $925,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lansing
- County
- Cook
- State
- Illinois
- Longitude
- -87.5316
- Latitude
- 41.5639
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
