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    FOR SALE
    Retail space

    2709 Ridgeland Ave, Berwyn, IL 60402

    0.08 ac lot Built 1948
    Individually Owned 3-yr Hold Free & Clear
    Property ID
    US28-2673049
    Property summary
    AI-generated overview

    This exceptional 2,750-square-foot commercial property at 2709 Ridgeland Avenue in Berwyn, Illinois presents a rare investment opportunity. Completely renovated in 2017 to accommodate a restaurant, the building boasts a modern, fully equipped prep kitchen, updated electrical and plumbing systems, a new furnace and air conditioning unit, and a compliant handicap-accessible bathroom. Two private offices provide ample space for administrative functions. Safety features include a recently installed fire alarm system. The property also benefits from new lighting and flooring throughout. Adding to its appeal is an attached two-car garage, providing convenient storage or workspace, and ample parking is available both on the street and in the rear. The building enjoys excellent visibility with 25 feet of frontage on bustling Ridgeland Avenue, surrounded by established businesses such as Quality Repair Shop, Pink Owl Cafe, Dorothy's, and V Bar. Its strategic location offers easy access to a large potential customer base, including the approximately 1,000 employees of nearby MacNeal Hospital, a mere five-minute drive away. Commuters will appreciate the property's proximity to the LaVergne Metra station, a seven-minute walk north, ensuring convenient access for staff and clients. This versatile property is perfectly suited for a restaurant, retail business, office space, or a variety of other commercial ventures. The asking price is $249,000.

    Property profile
    Verified
    Property type Retail space
    Use group RETAIL STORES (PERSONAL SERVICES)
    Year built 1948
    Lot 0.08 ac (3,402 SF)
    APN 16-29-308-005
    UPID US28-2673049
    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
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Harvey P Weintraub · 3 yrs held
    Harvey P Weintraub
    since 2023
    Last sale
    $169,500
    2 recorded transactions
    2023
    $169,500
    2023
    $90,000
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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