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$549,900
Est. payment /mo
6,411 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 6,411 sqft
Price per Sqft $85
MLS Listing ID 12310046
Year Built 1916
Annual Tax Amount $4,477
Tax Year 2023
Lot Size 4,356 Sqft
Lot Dimensions 25X125
Property Sub-Type Multi Family 5+
Property Description
Excellent investment opportunity in Chicago's revitalizing North Lawndale neighborhood! 1509 S Ridgeway is a solid brick 6-unit multifamily building offering a strong mix of unit layouts and incredible income potential. This stately 1916 structure features three spacious 3-bedroom, 1-bath units and three well-sized 2-bedroom, 1-bath units-totaling 15 bedrooms and 6 full bathrooms across the property. Several units have been recently updated with modern finishes including dark wood cabinetry, granite countertops, stylish tile backsplashes, vinyl plank flooring, and refreshed bathrooms, while others offer room for value-add upgrades. Ideal for both seasoned investors and those new to multifamily ownership, this property is located in a designated Opportunity Zone and Enterprise Zone 1, offering generous tax incentives and future appreciation potential. The full basement presents additional storage or possible expansion opportunities. The building sits on a wide lot with a gated yard and has a front-facing entry on a quiet residential block. Located just steps from Herzl Elementary School and within easy reach of public transportation, parks, and local amenities, this property benefits from strong rental demand and long-term tenant appeal. North Lawndale is a community on the rise, with recent investments in housing, infrastructure, and community development driving increased interest and growth. Central air in rear units only. refrigerators in 2F and 3F only. This property is being conveyed AS IS and is priced accordingly.
Location
State IL
County Cook
Area Chi - North Lawndale
Zoning MULTI
Rooms
Basement Unfinished
Interior
Cooling Central Air
Fireplace N
Exterior
Roof Type Tar/Gravel
Building
Dwelling Type Multi Family 5+
Structure Type Brick
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© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Anthony Erangey • Baird & Warner
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