7301 North Ridge Boulevard generated phenomenal interest. Essex conducted 44 property tours in just one week alone. Essex secured a buyer in less than 30 days after a highly competitive selection process between 19 offers in the first round. 7301 North Ridge closed at approx. 12% over list price.
7301 North Ridge Boulevard is a 56 unit apartment building located on the northeast corner of Ridge and Chase in Chicago’s Rogers Park Neighborhood. The unit mix is comprised of 10 studios, twenty-six 1 bed/1 bath, and twenty 2 bed/1 bath apartments. The building spans 3 lots totaling approx. 150 x 160 FT. Due to the size and location of the property, 7301 North Ridge presents the investor a unique value add opportunity to completely renovate the property and increase current rents by more than 60%.
7301 North Ridge is conveniently located 15 minutes walking distance to the Jarvis Red Line CTA Station providing easy access to downtown Chicago. Additionally, there are CTA Bus routes along Rogers Avenue and Clark Street. The property is situated within walking distance to several popular local restaurants including Ward Eight, Peckish Pig, and Buffalo Joe’s. Plus, Gateway Centre Plaza is less than 15 minutes walking distance from the property, which features a number of national retailers and grocery stores including, Walgreens, Jewel-Osco, Burger King, and Marshalls.
- Property Closed Over List Price
- 52 Property Tours Conducted
- 19 Offers Received in the First Round
- Unique Value Add Opportunity Available to Completely Renovate the Property
- Great Corner Location in Rogers Park
- Great Unit Mix - 10 Studios, 26 One Beds & 20 Two Beds
- 34 Parking Spaces
- Property Built in 1958