USD 575,000

2023 Ridge Road
Homewood, Illinois 60430

Beds
Baths 0
Building Area 7,400ft2

For Sale

Property Status

Property Description

Great investment opportunity in downtown Homewood! 7600 SF commercial building with 3 retail spaces and 5 offiices with 92% occupancy. Cap Rate, based on 2022 income and expenses, is 6.6%. Stabilized investment with over $120,000 in capital improvements; low inventory office/retail units in Homewood's downtown district, means increased future lease rates for owners. Brand new mixed use development, The Hartford, being constructed next door will include 36 apartments and upscalre restaurant and increase pedestrian traffic into the downtown shopping district. Homewood is also the proposed new site for the Wind Creek Casino, projected to open mid-2023.

Listed by BHHS Chicago

Property Details

ID #
11610867
Status
Sale
Type
Commercial
Zip Code
60430
Building Area
7,400ft2
Year Built
1977
Parking Spaces
12

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