5744 N. Ridge Ave.
For User or Development Opportunity in Edgewater Glen/Andersonville. Offered for sale is a highly-visible, 4,000 SF, one-story retail property located at the signalized corner of Ridge and Glenwood. Situated in a densely populated residential corridor and zoned B1-2, the property is well-suited for conversion into multi-unit residential rentals or condominiums.
Current Make-Up: Currently, the property houses an operating laundromat generating approx. $55K in annual revenue, with three additional vacant retail spaces. These include an 830 SF retail space with two restrooms, a 725 SF retail space with a bathroom, and a separate office/retail space with its own bathroom. Note: The two vacant retail spaces facing Glenwood are unfinished and will require build-out. Laundromat is fully operational-please do not disturb employees or management.
Opportunities: There are two opportunities for the property:
(1) Build-out vacant spaces to stabilize cash flow. The location offers high visibility with significant daily traffic (30,100 vehicles per day) along Ridge Ave.
(2) Tear down and build new residential rentals or condos. The location boasts excellent walkability with easy access to local shops, bus stops, and both CTA and Metra transit options.
- Sale Price: $599,000
- Property Tax: $31,197
- MLS: 12200531
- P.I.N.: 14-05-322-001-0000
- Building Type: Commercial, Development, Investment, Multi-family, Mixed Use, Retail, Office, Land
- Number of Stories: 1
- Building Square Feet: 3,998
- Site Square Feet: 4,000
- Zoning: B1-2
Property Details
The property is located in a rapidly developing neighborhood with several new residential projects nearby, including:
5691 Ridge Ave.—New Construction (built in 2024) 21,269 SF 4-story mixed-use building with 9 residential units and elevator.
5745 Broadway—Former Edgewater Auto Body Shop to be replaced by 5-story apartment building with 42 apartments and retail on first floor.
5830 Broadway—Vacant lot 54’ x 125’. Proposed. Zoned B1-2, requested zoning change to B2-3 TOD. Planned to be a 6-story building with 20 residential units and 1,433 SF ground floor retail space.
5853 Broadway– Former Streets and Sanitation building, city-owned. Multi-family equitable transit-oriented affordable housing to be built.
5920 Ridge Ave.—”The Mabel”- Approved. Zoned C1-2, changing to B2-3. Long vacant retail space to become 17 apartment residential building. Situated at a triangular parcel on southeast corner of Ridge and Clark. A new retail tenant will be added to the highly visible corner and the current tenant B&W Gym will get new signage and remodeled entrance.