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2147 Ridge Avenue, Evanston, IL 60201

2147 Ridge Avenue, Evanston, IL 60201
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.
Bedrooms4
Bathrooms2
Year Built1957

Porperty Highlights

  • Price $363,000
  • Bedrooms 4
  • Property ID 12204434
  • Bathrooms 2
  • Garage 1
  • Property Status Closed
  • Year Built 1957
  • Rooms 4
  • Garage Size x x
  • Property Type Residential
  • Association Fee 485
  • Cooling Wall Unit(s)
  • Heating Natural Gas
  • County Cook
  • Property Type Residential
  • Elementary School Orrington Elementary School
  • Middle School Haven Middle School
  • High School Evanston Twp High School
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Property Features

Luxury Highlights

Luxurious amenities including infinity pools, home theaters, gourmet kitchens, smart home technology, and breathtaking views for an extraordinary lifestyle.

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gallery

Video Highlights

Luxurious amenities including infinity pools, home theaters, gourmet kitchens, smart home technology, and breathtaking views for an extraordinary lifestyle.

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Floor Plans

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Frequently Asked Questions

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You can contact us directly through our contact form or by phone to schedule an appointment with one of our experts. We will evaluate your property and create a customized marketing strategy to ensure you get the best possible return.

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Purchasing a property in these areas means investing in some of the most prestigious and sought-after locations, offering a unique blend of luxury, security, and high quality of life. These areas are known for their natural beauty, exclusive amenities, and strong property value retention.

Absolutely. We offer detailed and personalized virtual tours for every property, allowing you to explore homes from anywhere in the world. Contact us to schedule a virtual tour appointment.

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2147 Ridge Avenue, Evanston, IL 60201

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