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$365,000
4
beds
2
baths

2147 Ridge Avenue #3D
Evanston, Illinois 60201

Contingent / MLS #12204718 / Condo / Evanston
Listing information updated 11/21/2024 at 12:43pm
This spacious top-floor 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.
Exterior Type:
Brick
Basement:
None
Beds Above Grade:
4
Cooling System:
Window/Wall Units - 3+
Heating System:
Natural Gas
Main Level Primary Bedroom:
Yes
Pool:
No
Age:
61-70 Years
Parking Type:
Garage
Garage:
Heated
Room Count:
4
Water Front:
No
Square Feet:
N/A
Pet Information:
Cats OK, Dogs OK
Living Room:
N/A
Dining Room:
N/A
Kitchen:
N/A
Family Room:
N/A
Primary Bedroom:
1x1 - Main Level
2nd Bedroom:
1x1 - Main
3rd Bedroom:
1x1 - Main
4th Bedroom:
1x1 - Main
Laundry:
N/A Level
Tax Amount:
$5,981
Tax Year:
2023
Assessments:
$485 / month
Zip Code:
60201
City:
Evanston
County:
Cook
School District(s):
65, 202
Elementary School:
Orrington Elementary School
Middle School:
Haven Middle School
High School:
Evanston Twp High School

Listing Office: YOUMU VENTURES LLC

Listing Office Phone: 312.888.5486

Disclaimer: The data relating to real estate for sale on this website comes courtesy of Midwest Real Estate Data, LLC as distributed by MLS GRID. Real estate listings held by brokerage firms other than @properties are marked with the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 11/21/2024 at 12:43pm. 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.

Evanston, IL

Located just north of Chicago, Evanston offers a beautiful natural setting on the shores of Lake Michigan. Its historic homes, tree-lined streets, and sprawling beaches may be the first things that catch your eye, but there’s a lot more to love here. Home to world-class Northwestern University, Ev...

CTA

CTA
Purple line at Noyes

Metra

Metra
Union Pacific North line at Davis St Metra
$523,688
Average Sale Price
38
Average Days On The Market
99%
Sales Prices VS. List Price
Data represents the community area’s average over the past 12 months. All information deemed reliable, but not guaranteed.
Map of 2147 Ridge Avenue #3D, Evanston, IL 60201

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2147 Ridge Avenue #3D is a condo currently listed at $365,000. 2147 Ridge Avenue #3D features 4 Beds, 2 Baths. This condo has been listed on @properties Christie's International Real Estate since November 6th, 2024 and was built in 1957. Nearby schools include Orrington Elementary School, Haven Middle School, and Evanston Twp High School. The nearest transit stops include Noyes CTA Purple line and Davis St Metra Metra Union Pacific North line.

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