8001 Edgewater Rd Immeuble residentiel 36 lots 3 015 040 € (83 751 €/Lot) Taux de capitalisation 6,50 % North Riverside, IL 60546

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.