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    Property profile & analytics
    OFF-MARKET Estimated value $545,000
    Retail space

    2023 Rdg Rd, Homewood, IL 60430-1749

    7,155 SF 0.2 ac lot Built 1938
    Entity Owned 1-yr Hold ~ Est. High Equity
    Property ID
    US28-5222907
    Property summary
    AI-generated overview

    This exceptional 600-square-foot creative office suite is located at 2023 Ridge Rd, in Homewood's historic business district, at the corner of Ridge Rd and Martin Ave. Recently renovated in 2023, the suite boasts new floors and fresh paint, offering a move-in ready space. It features a private office with a built-in (removable) desk and shelves, along with a private suite off an open showroom. The suite is one of five on the second floor of a two-story building, sharing the space with a diverse mix of businesses including massage therapists, a yoga studio, a boutique, and a wholesale railroad equipment specialist. Convenient amenities include private parking, an elevator, and a shared balcony. The building's prime location offers excellent visibility and foot traffic, situated just a block from the Amtrak/Metra station and across the street from new luxury apartments and the Stoney Point Grill. The property is part of Martin Ave Square, the heart of downtown Homewood, known for its community events and farmers markets. The building itself encompasses over 7,000 square feet, with three street-level storefronts and five upstairs suites. The B-1 zoning in Cook County ensures flexibility for various business types. This is the only vacant suite in the building, presenting a unique opportunity to establish your business in a thriving and growing community. Homewood's revitalization includes new restaurants, a casino, and ongoing improvements to the Amtrak/Metra station, further enhancing the area's appeal and potential.

    Property profile
    Verified
    Property type Retail space
    Use group STORE, RETAIL OUTLET
    Year built 1938
    Total area 7,155 SF
    Lot 0.2 ac (8,650 SF)
    APN 29-31-311-020
    UPID US28-5222907
    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
    Current use
    Occupant on record · Public records
    • Phoenix Railway Equipment Co Freight Service Logistics Company
    • Be Well Studio Alternative Medicine Practice Spa & Massage Center
    • siSTAR Circle, LLC Wellness Program
    • iTemps Solution Employment Agency
    • True Nature Integrative Health Counselor Massage Therapist
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $405k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $681k
    Blend (final) Blend
    $545k
    Owner & transaction history
    Hawthorne Lane Partners LLC · 1 yrs held
    Hawthorne Lane Partners LLC
    since 2024
    Last sale
    $605,000
    7 recorded transactions
    2024
    $605,000
    2018
    2010
    2010
    2005
    $615,000
    2003
    $700,000
    2002
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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