Home Details for 2818 S Ridgeland Avenue

Rare opportunity to acquire a fully renovated 14-unit apartment building in a prime Berwyn location. The unit mix consists of 9 two-bedroom units, 4 one-bedroom units, and 1 three-bedroom unit. Approximately 12 years ago, the property underwent a complete gut rehab, including new roof, new copper plumbing, new electrical, sprinkler system, fire alarm system, and fully rebuilt units with condo-quality finishes. Many appliances have also been updated since the renovation. The building features 16 parking spaces which some are covered parking, coin laundry, storage, and intercom system. Units offer hardwood floors, granite countertops, stainless steel appliances, porcelain baths, and individual furnaces/water heaters. The property currently generates approximately $16,000 per month in rental income plus an additional approximately $1,000 per month from coin-operated laundry. Rents are below market with strong upside potential, and most tenants are month-to-month, creating flexibility for new ownership to increase rents and secure longer-term leases. Conveniently located near Metra, expressways, shopping, dining, and more.