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Description

For User/Development Opportunity in Edgewater Glen/Andersonville. Offered for sale is a highly-visible, 4,000 SF, one-story retail property located at the signalized corner of Ridge and Glenwood...Situated in a densely populated residential corridor and zoned B1-2, the property is well-suited for conversion into multi-unit residential rentals or condominiums. Currently, the property houses an operating laundromat generating approx. $55K in annual revenue, with three additional vacant retail spaces. These include an 830 SF retail space with two restrooms, a 725 SF retail space with a bathroom, and a separate office/retail space with its own bathroom. Note: The two vacant retail spaces facing Glenwood are unfinished and will require build-out. Laundromat is fully operational-please do not disturb employees or management. There are two opportunities for the property (1) Build-out vacant spaces to stabilize cash flow. The location offers high visibility with significant daily traffic (30,100 vehicles per day) along Ridge Ave. (2) Tear down and build new residential rentals or condos. The location boasts excellent walkability with easy access to local shops, bus stops, and both CTA and Metra transit options. The property is located in a rapidly developing neighborhood with several new residential projects nearby, including 5691 Ridge and 5920 Ridge.

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Taxes

Market Activity 60660

MLS Number: 12200531

Listing Provided By: David Kaplan – (847) 302-2387 – david@straussrealty.com

Strauss Realty Ltd – (773) 736-3600