1850 S Ridgeway Avenue, Chicago, IL 60623
Highlights:
– 3-unit brick apartment building
– First floor apartment – 3-bedroom / 1-bathroom (vacant)
– Second floor apartment – 4-bedroom / 1-bathroom unit rented for $700/month (long-term tenant of over 5 years w/current lease expiring in May, 2016)
– Partially-finished basement – small 1-bedroom / 1-bathroom unit rented for $325/month (long-term tenant of over 10 years w/current lease expiring in March, 2016) (neither owner nor broker represent legality of basement unit)
– New roof in 2012
– Rear gated patio area could easily be converted to exterior parking
– Tenants furnish all own appliances, none are landlord owned
– Tenants pay all own utilities with boilers (for 1st & 2nd floor units), furnace (for basement unit) and all 3 hot water heaters metered separately
– No common gas or electric bill (all wired to 1st floor unit)
– Landlord paid common expenses of $835 for water and $2,410 for maintenance/repairs (in 2013), plus $2,532 for property insurance (in 2014)
