9820 Ridgeland Ave Chicago Ridge, IL 60415
Property profile & analytics
9820 Ridgeland Ave Chicago Ridge, IL 60415
- Retail space
- 0.96 lot acres
Property ID
US28-2522906
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Ascend Cannabis Dispensary - Chicago Ridge / (Bike/Boat/Book/etc) Store
Property Details for 9820 Ridgeland Ave
- Year built
- 1987
- Lot size
- 0.96 lot acres
- Property type
- Retail space
- APN
- 24-07-216-020
- APU
- 2407216020
Description
This exceptional investment opportunity presents a fee-simple interest in an 8,925 square foot, single-tenant retail property located at 9820 Ridgeland Ave, Chicago Ridge, IL 60415. The property, an outparcel of Chicago Ridge Mall, houses an ASCEND Wellness cannabis dispensary, operating under a 15-year absolute NNN lease (with a 5-year renewal option) commencing May 1, 2021, and expiring April 30, 2036. The lease includes annual rent bumps of 3.00% (base + options). The property boasts a strong 8.65% cap rate and a substantial net operating income (NOI) of $819,545. Built in 1988 and fully renovated in 2021, the property sits on a 0.955-acre lot with 46 parking spaces. The tenant, ASCEND Wellness (OTCQX: AAWH), is a publicly traded company providing a corporate guaranty. This investment offers exposure to the rapidly expanding cannabis industry, with the property benefiting from its location in a high-traffic retail corridor and excellent demographics within the Chicago metro area. The property is currently 100% occupied, offering immediate cash flow and long-term stability. This is a rare opportunity to acquire a high-performing asset in a burgeoning sector. The property features one building, one story, and is situated in Cook County.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Chicago Ridge
- County
- Cook
- State
- Illinois
- Longitude
- -87.7802
- Latitude
- 41.7146
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$115,221
$88,406
$214,789
$303,195
-
$353,624
$859,156
$1,212,780
