2147 Ridge Avenue Unit 3D
Evanston, IL 60201
- 4 beds
- 2 baths
- – sqft
- 1957 build
- – on site
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.
Last checked:
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Last updated Nov 6, 2024
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MLS# 12204718 —
The Building
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Year Built:1957
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Rebuilt:No
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New Construction:false
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Basement:None
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Disability Access:No
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Stories Total:3
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Living Area Source:Not Reported
Interior
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Rooms Total:4
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Room Type:No additional rooms
Location
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Directions:Ridge Ave & Leonard Pl
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Location:88089
The Property
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Parcel Number:11071190451012
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Property Type:Residential
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Lot Size Dimensions:CONDO
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Rural:N
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Waterfront:false
Listing Agent
- Contact info:
- Agent phone:
- (312) 888-5486
- Office phone:
- (312) 888-5486
Taxes
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Tax Year:2023
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Tax Annual Amount:5981.54
Beds
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Bedrooms Total:4
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Bedrooms Possible:4
Baths
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Baths:2
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Full Baths:2
The Listing
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Special Listing Conditions:None
Heating & Cooling
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Heating:Natural Gas
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Cooling:Window/Wall Units - 3+
Utilities
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Water Source:Public
Schools
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Elementary School:Orrington Elementary School
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Elementary School District:65
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Middle Or Junior School:Haven Middle School
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Middle Or Junior School District:65
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High School:Evanston Twp High School
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High School District:202
The Community
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Pets Allowed:Cats OK, Dogs OK
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Association Fee:485
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Association Fee Includes:Water, Insurance, Snow Removal
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Association Fee Frequency:Monthly
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Master Assoc Fee Frequency:Not Required
Parking
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Parking Total:1
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Garage Type:Attached
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Garage Spaces:1
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Garage Onsite:Yes
Monthly cost estimate
Asking price
$365,000
| Expense | Monthly cost |
|---|---|
|
Mortgage
This calculator is intended for planning and education purposes only. It relies on assumptions and information provided by you regarding your goals, expectations and financial situation, and should not be used as your sole source of information. The output of the tool is not a loan offer or solicitation, nor is it financial or legal advice. |
$1,954
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| Taxes | $498 |
| Insurance | $100 |
| HOA fees | $485 |
| Utilities | N/A |
| Total | $3,037/mo.* |
| *This is an estimate |
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
11/6/24
Nov 6, 2024
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Listed / Active | MRED | $365,000 |
45% of nearby similar homes sold for over asking price
Similar homes that sold in bidding wars went $11k above asking price on average, but some went as high as $46k over asking price.
