5658-60 N ridge Avenue
Chicago, IL, 60660 $ 3,900,000
Bedrooms4 Baths0.0 Monthly Estimate*
$ 26,936
for $3,900,000 with 4 bedrooms. This home was built in 1921.
100% fee-simple interest in 5658-60 North Ridge Avenue (the "Property"), a fully renovated ten (10) unit multifamily asset in Chicago's Edgewater neighborhood, comprising six (6) three-bedroom / two-bath residences and four (4) one- bedroom / one-bath apartments, together with eleven (11) surface parking spaces. The Property was acquired by the owner in 2018 and taken through a comprehensive repositioning. Ownership executed a full gut renovation of the interiors and modernized the building's mechanical and access systems. With the capital program complete and the asset 100% occupied, the opportunity presents an investor the ability to acquire a turnkey, recently renovated property with no deferred capital and immediate in-place cash flow. Importantly, in-place rents sit below market for comparably finished product in Edgewater, offering a new owner a clear path to mark rents to market on natural turnover. Because the renovation program is already complete, this upside is achievable without additional capital - allowing an incoming investor to grow net operating income through leasing execution alone. Every residence has been delivered to a condo-quality standard, with kitchens featuring modern cabinetry, stainless-steel appliances, quartz countertops, tile backsplashes, and garbage disposals, while bathrooms include full-tile showers, oversized vanities, and high-end matte black plumbing fixtures. Units also offer in-unit washers and dryers, Nest thermostats, LATCH keyless entry, and private outdoor space as an added amenity to tenants. Located approximately seven miles north of the Loop, Edgewater is one of Chicago's most established rental submarkets, anchored by lakefront access, a dense walkable retail base, and institutional employers including Loyola University Chicago's Lake Shore Campus, Truman College, and Weiss Memorial Hospital. The Property sits two-tenths of a mile from the CTA Bryn Mawr Red Line station, recently rebuilt as part of the Red and Purple Modernization Program, with the Andersonville retail district and Lake Michigan's beaches within a half-mile walk. Paired with fully renovated interiors, a differentiated three-bedroom-weighted unit mix, on-site parking, and meaningful mark-to-market rent upside, 5658-60 North Ridge Avenue is ideally suited for an investor seeking a stabilized, low-maintenance cash flowing asset with embedded growth in one of Chicago's most desirable neighborhood
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FeaturesGeneralYear Built 1921
Stories Count 3
Tax Year 2025
Gross Income 365641
County Cook
Net Operating Income 267894
Operating Expense 86778
Insurance Expense 7932
Property Type Commercial Sale Multi Family 5+
MaintenanceExpense 4000
Status Active
Directions Northwest on ridge to 5658
City Chicago
Number Of Units Total 3
MLS Area CHI - Edgewater
Tax Annual Amount 35238
Electric Expense 827
Fuel Expense 3291
Trash Expense 3527
Water Sewer Expense 4574
Additional Parcels Y/N N
Standard Status Active
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* Excluded FeaturesList ByAdam.max@ranorth.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $26,936
- Monthly Property Taxes
- $2,937
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Chicago, IL
Average List Price $635,926
Percent of Sale Price 84%
About Chicago, IL 2,755,380 Population
-4% Since 2002
$ 53,088 Median Income
36.07 Median Age
25% Households with Children
Trends Information provided by ATTOM Data Solutions.
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 11/3/2026 | $3,900,000 | | Listed Price |