The Ridgeland Portfolio

Kiser Group is pleased to exclusively present for purchase The Ridgeland Portfolio; a three (3) building portfolio consisting of forty-two (42) units in Chicago's historic South Shore neighborhood. Situated in premier locations in one of Chicago's most rapidly appreciating neighborhoods, the assets are ideally located just blocks away from the Obama Presidential Library, Jackson Park, and Lake Michigan.
The Ridgeland Portfolio has an incredibly desirable unit composition. 7318 S. Ridgeland is comprised of five (5) 2bd/1ba, three (3) 3bd/1ba, and two (2) 3bd/2ba, 7319 S. Ridgeland consists of twenty-six (26) 1bd/1ba, and 7405 S. Euclid is comprised of six (6) 1bd/1ba. All of which, however, are incredibly spacious and have gone through varying degrees of updates both cosmetically and mechanically. Recent improvements to the buildings include, but are not limited to, modern boilers with R&D control systems, newer windows & porches, updated kitchens & bathrooms, and an abundance of masonry & tuckpointing work.
The Ridgeland Portfolio presents an investor with the rare opportunity to acquire forty-two (42) newly renovated units in the heart of Chicago's South Shore neighborhood. From day one, an investor will realize a cap rate of 9.8% and a cash return of 13.83%. Through improved leasing and raising rents to levels already being achieved, the Ridgeland Portfolio offers its next owner the potential to reach a 10.86% cap rate and an 18.03% cash return.
ASSUMABLE FINANCING: Buyer has the option to assume the current loan, approximate terms are:
- $2,130,000
- 4.5% Rate
- 14 Years Remaining