8001 Edgewater Road, Riverside, IL

$3,499,000

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About 8001 Edgewater Road

Investment Opportunity: Transform a Historic Gem in Riverside Unlock the untapped potential of this rare 36+ unit mixed-use property located in the heart of historic Riverside, just minutes from the Riverside Metra Station-offering unmatched convenience for commuters to downtown Chicago. This full GUT REHAB project is a blank canvas, ready for transformation. Bring your vision and creativity to breathe new life into a building with immense upside. Full System Overhaul Needed: Complete replacement of plumbing and electrical systems is required to meet 2021 building code standards. Expansion Potential: Opportunity to enlarge existing units, significantly increasing value and rental income. Diverse Unit Mix: Spacious 2-bedroom, 1-bath units with 10-foot ceilings Comfortable 1-bedroom, 1-bath units Efficient studio apartments Retail storefronts ideal for neighborhood-serving businesses Strategic Location & Zoning: Prime location near transit, shops, and schools Mixed-use zoning with residential and commercial upside Strong rental demand in a high-growth area Historic charm with modern redevelopment potential. This property is currently uninhabitable and requires a full-scale renovation. Due to the size and complexity of the project-and the involvement of the Village of North Riverside-it demands a well-capitalized, experienced developer with a strong background in finance and large-scale construction. Whether your vision includes modern rentals, stylish condos, or a vibrant live/work community, the income potential is limitless in today's tight housing market. Potential Revenue (Post-Renovation. 2BR Units (avg. rent: $2000-$2400/month) 1BR Units (avg. rent: $1,600-$1800/month) Cap Rate & Valuation Potential: Strong upside with potential condo conversion or phased lease-up strategy Studios (avg. rent: $1,100/month) According to the plans-excluding the ground floor and commercial spaces-the building includes 18 two-bedroom, one-bath units; 12 one-bedroom, one-bath units; and 6 studio apartments.

Features of 8001 Edgewater Road

MLS® # 12463102
Price $3,499,000
Bathrooms 0.00
Acres 0.00
Year Built 1926
Type Commercial Sale
Sub-Type Multi Family 5+
Status Contingent

Community Information

Address 8001 Edgewater Road
Area Riverside
City Riverside
County Cook
State IL
Zip Code 60546

Amenities

Is Waterfront No
Has Pool No

Interior

Fireplace No
Has Basement No

Additional Information

Days on Market 47
Zoning MULTI
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

Office@properties Christie's International Real Estate
Contact Info708-848-0200

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