MLS# MRD12204434 – 2147 Ridge Avenue Unit 2d, Evanston, IL 60201

$363,000 - 4Br/2Ba - for Sale in Evanston

Price: $363,000

Beds: 4

Baths: 2

Living Area SqFt: 0

Status: Active Under Contract

Property Type: Condominium

Year Built: 1957

Days on Website: 22

Courtesy of YOUMU VENTURES LLC {attribution_contact}

Property Description

This spacious 4-bedroom, 2-bath unit is located in a Northwestern University student apartment building, just a 13-minute walk from campus. Nestled on a peaceful and quiet street, it’s highly popular with a range of tenants, including Northwestern students, faculty, staff, and other young professionals. The property is only 0.5 miles (a 10-minute walk) from the Purple Line’s Noyes Station, with convenient access to local amenities including convenience stores, restaurants, and banks. A park is just a 3-minute walk away. Recently renovated in 2023, the unit is currently fully leased to Northwestern students, all of whom are on their second-year leases until 08/31/25. The annual rental income is 38,400 (parking not included). After deducting property taxes, insurance, and the HOA, the unit achieves a 7.5+ cap rate. With a 10-year equity multiple of 3.3X, an annual return rate of 22.97/100, and a projected cash-on-cash return of over 10/100 by year three, this is an ideal investment. The current owner has held the property for nearly 20 years, benefiting from stable and lucrative returns.

Open House

Property Details and Features

Basement
“None”
None

Bathrooms
2 full bathrooms

Bedrooms
4 bedrooms total

Building
Area: 0
Built in 1957
Rebuilt: No

Cooling
“Window/Wall Units – 3+”

Accessibility Features
No

Garage
1 space
Onsite
Type: Attached

Heating
“Natural Gas”

Home Owner’s Association
Dues: $485
Dues Frequency: Monthly
Dues include: “Water”, “Insurance”, “Snow Removal”

Listing
16 days on market
Listing Price: $363,000
Status: Contingent
Ownership: Condo

Location
Area: Evanston
County: Cook

Lot
Dimensions: CONDO

Parking
Parking included in price
Parking Total: 1

Pets Policy
Description: “Cats OK”, “Dogs OK”

Schools
Elementary: Orrington Elementary School
Middle/Junior High: Haven Middle School
High School: Evanston Twp High School

Utilities
Water Source: “Public”

Taxes
Annual Taxes: $5,172
Year: 2023

Property Map

$363,000 – 2147 Ridge Avenue Unit 2d, Evanston, IL 60201

Street View

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