8001 Edgewater Road, Riverside, IL 60546

Commercial Property
Built in 1926
—— sqft lot
—— car garage
$——/sqft
Listed 1 month ago

Property Description

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.

Listing Status:: Active
Listing Office:: @properties Christie's International Real Estate : 630-991-0087
Listing Agent:: Katerina Vielehr : 630-991-0087
MLS ID:: 12378389

Originating MLS: mred
County: Cook

This listing courtesy of Katerina Vielehr, @properties Christie's International Real Estate

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

Ready to Start a VA Loan?

Get Started

NMLS #1907 ^†

Get Prequalified »

Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location

Schools Nearby

Riverside Brookfield Township High School

160 Ridgewood Rd, Riverside, IL, 60546

Grades 9-12

0.64 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.