901 Ridge RdWilmette, IL 60091

Property Details for 901 Ridge Rd

Year built

1889

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.15 AC

Property size (Sq ft)

2,400 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

05-28-317-015

APU

528317015

Description

This exceptional 5,600-square-foot mixed-use building at 901 Ridge Road, Wilmette, IL, presents a rare investment opportunity. Situated on a 6,600-square-foot lot with NR zoning, this two-story building boasts a classic façade and high ceilings. The property enjoys unparalleled visibility and high traffic counts, with 17,500 vehicles daily on Lake Avenue and 6,700 on Ridge Road. The ground floor features two retail storefronts: a vacant 1,600+ square-foot medical clinic (suitable for various retail or professional uses) and a long-term tenant hair salon/barbershop. The second floor comprises a two-bedroom, one-bathroom apartment and two fully rented offices. An additional three-bedroom, one-bathroom apartment with a den is located in the attic. The building generates $5,010 in monthly rental income (excluding the vacant clinic). Amenities include five electric meters, an eight-space rear parking lot, a recently replaced roof, and a basement for storage. Conveniently located near the Wilmette Metra train, Pace bus stops, and the Edens Expressway. The property includes 903 Ridge Road but excludes 905 Ridge Road. Serious offers will be considered.

• CAP approach

  CAP return

  Valuation

  6%

  $895,825

  6.5%

  $826,916

  7%

  $767,850

• Comparable approach

  Method

  Valuation

  Relative Method

  $484,530

  Geo Method

  $484,530

• Alternative Use

  Use

  Valuation

  Residential

  $826,916

  Hospitality

  $757,450

  Educational

  $630,190

  Medical

  $651,863

  Retail

  $980,295

Location Insight

City

Wilmette

County

Cook

State

Illinois

Latitude

42.0792

Longitude

-87.7229

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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