IL
Cook
Evanston
60201
2147 Ridge Avenue 2D
2147 Ridge Avenue 2D, Evanston, IL 60201
Listing Type
Condo/Townhome
Listing Status
Off Market
0
$363,000

Home Details for 2147 Ridge Avenue 2D

Price
$363,000
Type
Residential
Bedrooms
4
Bathrooms
2.0
Square feet
NaN
Year built
1957
County
Cook
Total rooms
4
Garage
1
Basement
None
Days on site
74
MLS Listing#
12204434
Hoa
485
Listing courtesy: YOUMU VENTURES LLC - 312-888-5486
Property Description

This spacious 4-bedroom, 2-bath unit is located in a Northwestern University "student apartment" building, just a 13-minute walk from campus. Nestled on a peaceful and quiet street, it's highly popular with a range of tenants, including Northwestern students, faculty, staff, and other young professionals. The property is only 0.5 miles (a 10-minute walk) from the Purple Line's Noyes Station, with convenient access to local amenities including convenience stores, restaurants, and banks. A park is just a 3-minute walk away. Recently renovated in 2023, the unit is currently fully leased to Northwestern students, all of whom are on their second-year leases until 08/31/25. The annual rental income is 38,400 (parking not included). After deducting property taxes, insurance, and the HOA, the unit achieves a 7.5+ cap rate. With a 10-year equity multiple of 3.3X, an annual return rate of 22.97/100, and a projected cash-on-cash return of over 10/100 by year three, this is an ideal investment. The current owner has held the property for nearly 20 years, benefiting from stable and lucrative returns.

Property Features
  • Cooling Information
    • Wall/Window Unit(s)
  • Heating Information
    • Natural Gas
  • Water Features
    • Public
  • Parking
    • Attached
  • Basement
    • None
School Information
School Information for 2147 Ridge Avenue 2D, Evanston, IL 60201
Elementary School
Orrington Elementary School
Middle School
Haven Middle School
High School
Evanston Twp High School
Midwest Real Estate Data logo Based on information submitted to the MLS GRID as of 2025-01-13 21:45:27. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Last Updated: 2025-01-13 21:45:27
Transportation
Check the walk, transit, and bike score for
Neighborhood Market Statistics
See average values in the proximity of this property
Median Listing Price
Median Days on Site
Median Square Feet
Market statistics compiled from data from Midwest Real Estate Data.
EXIT GRACE REALTY
2945 N. Milwaukee Ave. Ste B, Chicago, IL 60618
Office
Request more details
Code: