Property profile

2709 Ridgeland Ave Berwyn, IL 60402

FOR SALE
Retail space
Property ID
US28-2673049
0.08 ac lot Built 1948
Individually Owned 3-yr Hold Free & Clear
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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

Location

2709 Ridgeland Ave Berwyn, IL 60402
Berwyn metro Census 815200 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$135k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$160k

Owner & transaction history

since 2023
Last sale
$169,500
2 recorded transactions
2023
$169,500
2023
$90,000

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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More about this property
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