Property profile

10619 Ridgeland Ave Chicago Ridge, IL 60415

OFF-MARKET
Commercial real estate
Property ID
US28-2189781
0.06 ac lot Built 1976
Individually Owned 3-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional redevelopment opportunity presents a 0.18-acre parcel ideally situated at 10619 Ridgeland Ave in Chicago Ridge, Illinois, zip code 60415. The property, categorized as commercial retail land, boasts a prime location on a busy thoroughfare, offering significant potential for various retail ventures. Built in 1937, the site presents a blank canvas for a new development, capitalizing on the high volume of traffic along Ridgeland Avenue. The asking price for this unique opportunity is $149,000. Its strategic location offers easy access to the Metra commuter rail line, enhancing its appeal to a wide range of potential customers and employees. The Cook County location provides access to a substantial consumer base and strong infrastructure. This 0.18-acre lot provides ample space for a variety of development plans, from small-scale retail shops to larger-scale commercial projects. Investors and developers will appreciate the potential for significant return on investment given the property's location and the high traffic volume. The property's existing structure, built in 1937, may offer potential for adaptive reuse or demolition to make way for a new construction. This is a rare chance to acquire a strategically located retail pad in a thriving area with excellent transportation links. Serious inquiries are encouraged to explore the full potential of this exciting redevelopment project.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1976
Lot 0.06 ac (2,725 SF)
APN 24-17-118-011
UPID US28-2189781

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

10619 Ridgeland Ave Chicago Ridge, IL 60415-1834
Chicago Ridge metro Census 823002 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$305k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$305k

Owner & transaction history

since 2022
1 recorded transaction
2022
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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