6-flat building located at 7516.5 N Ridge Blvd in Chicago's West Ridge neighborhood. The property consists entirely of two-bedroom, one-bathroom units, with half of the apartments already renovated, featuring updated kitchens and bathrooms. The successful rent increases achieved through these renovations provide a new investor with a proven value-add strategy and the opportunity to further enhance rental income through continued unit improvements. The building is part of a seven-building complex, offering investors the benefits of an established multifamily community. Ownership within the complex proportionately shares responsibilities for common walkways, parking, and water expenses, providing operational efficiencies and a streamlined ownership structure.
West Rogers Park, located between Devon Avenue and Touhy Avenue, is a residential and commercial Chicago neighborhood with brick courtyard apartments and leafy side streets. The neighborhood’s character concentrates around Devon Avenue near Western Avenue, where sari shops, spice markets, and late-night bakeries line the sidewalks beside casual cafes. Community pillars include the Indian Boundary Park Fieldhouse, the Rogers Park/West Ridge Historical Society, and the intimate stage at Lifeline Theatre. Architecture leans toward sturdy Chicago brick two-flats, courtyard buildings, and mid-century walk-ups. Indian Boundary Park’s lagoon and paths set a calm counterpoint to the retail corridors. CTA and Metra stops frame a practical, transit-linked rhythm.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Bedrooms
2 bedrooms per unit
Bathrooms
1 full bathroom per unit
Kitchen
6 ranges
Laundry & utility
2 washers
2 dryers
Heating & cooling
Radiator and baseboard heating
6 window air conditioners
Home design
Six-unit multifamily property
Construction
Built before 1978
Utilities
Separate electric meters
Financial info
Monthly income of $9,090
Gross annual income of $109,080
Gross rent multiplier of 8.25
Water and sewer expense of $1,575
Electric expense of $974
Trash expense of $2,237
Insurance expense of $4,412
Monthly income per unit ranges from $1,450 to $1,595
Electricity and solar
View estimated energy costs and solar savings for this home
Residential Two-Flat, Townhouse and Multi-Unit District
The primary purpose of the RT districts is to accommodate detached houses, two-flats, townhouses and low-density, multi-unit residential buildings at a density and building scale that is compatible with RS districts. The districts are intended to be applied in areas characterized by a mix of housing types. The districts are also intended to provide a gradual transition between RS districts and higher density RM districts. The RT districts are differentiated primarily on the basis of allowed density (minimum lot area per unit) and floor area ratios.
Permitted uses
Include but are not limited to:
Religious facility
Day care facility
Hospital / medical center
Housing-Group
Housing-Multiple units
Housing-Senior
Infrastructure
Bed & breakfast
Office
Public service
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
2/10 Heat Factor
7 days above 98° expected this year, 14 days in 30 years
2/10 Wind Factor
0% chance of strong winds in next 30 years
4/10 Air Factor
5 unhealthy days expected this year, 6 days in 30 years
Provided by First Street
Historical weather
Chicago, IL • 60645
Average low and high temperatures (°F)
31
17
39
25
54
36
61
44
66
50
80
64
85
70
80
67
77
62
66
53
51
40
37
25
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
83/ 100
Very good sunlight
Sunscore
This home ranks in the top 17% for direct sun exposure in Chicago. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9 hrs
4.1 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 7516 N Ridge Blvd
There isn’t enough information to generate an accurate estimate at this time. Learn More
Tour for free, no strings attached
Make a winning offer with the help of a local agent