Multifamily
2040 W Hood Ave
2040 W Hood Ave, Chicago, IL 60659
Listing Price: $1,585,000
Investment Overview
2040 West Hood Avenue presents a compelling investment opportunity in Chicago’s West Ridge neighborhood, a vibrant area with convenient access to public transportation and retail hubs. The location of this property is less than a ten minute walk from the Peterson/Ridge Union Pacific North Metra train station.
Additionally, this 10-unit property, including one non-conforming garden unit, consists entirely of one-bedroom apartments. Approximately 80% of the tenants and their rental income are secured through partnerships with various social service organizations, ensuring stable occupancy and reliable cash flow. These affiliations provide a clear path for a new investor to adjust rents to market levels over time, enhancing revenue potential.
Beyond the strength of its tenant base, the property benefits from additional income streams, with all parking spaces leased at market rates to tenants of neighboring properties. Its combination of strong occupancy fundamentals and operational upside positions 2040 West Hood Avenue as an attractive asset with both immediate and long-term growth potential. Investors can expect healthy financial performance, with current cash-on-cash returns exceeding 6% and pro-forma projections surpassing 10%, making this an excellent opportunity for those seeking stability with room for value appreciation.
Investment Highlights
- Located in West Ridge, Chicago, under 10 minute walk to Peterson/Ridge UP North Metra station, offering convenient access to transportation and surrounding retail amenities.
- Features 10 one-bedroom units, 13 revenue-generating parking spaces, and one non-conforming garden unit generating over $11,000 of additional annual income (Not Factored in Financial Analysis)
- Roughly 80% of this property's tenants, and their rents, are secured by various social service organizations
- Clear pathway to adjust rents to market levels through collaboration with tenant organizations
- 6.13% Cash on Cash return Year 1; over 10% Pro-Forma Cash On Cash return potential
Exclusively Listed By
Listing Price: $1,585,000
Investment Highlights
- Located in West Ridge, Chicago, under 10 minute walk to Peterson/Ridge UP North Metra station, offering convenient access to transportation and surrounding retail amenities.
- Features 10 one-bedroom units, 13 revenue-generating parking spaces, and one non-conforming garden unit generating over $11,000 of additional annual income (Not Factored in Financial Analysis)
- Roughly 80% of this property's tenants, and their rents, are secured by various social service organizations
- Clear pathway to adjust rents to market levels through collaboration with tenant organizations
- 6.13% Cash on Cash return Year 1; over 10% Pro-Forma Cash On Cash return potential
Investment Overview
2040 West Hood Avenue presents a compelling investment opportunity in Chicago’s West Ridge neighborhood, a vibrant area with convenient access to public transportation and retail hubs. The location of this property is less than a ten minute walk from the Peterson/Ridge Union Pacific North Metra train station. Additionally, this 10-unit property, including one non-conforming garden unit, consists entirely of one-bedroom apartments. Approximately 80% of the tenants and their rental income are secured through partnerships with various social service organizations, ensuring stable occupancy and reliable cash flow. These affiliations provide a clear path for a new investor to adjust rents to market levels over time, enhancing revenue potential. Beyond the strength of its tenant base, the property benefits from additional income streams, with all parking spaces leased at market rates to tenants of neighboring properties. Its combination of strong occupancy fundamentals and operational upside positions 2040 West Hood Avenue as an attractive asset with both immediate and long-term growth potential. Investors can expect healthy financial performance, with current cash-on-cash returns exceeding 6% and pro-forma projections surpassing 10%, making this an excellent opportunity for those seeking stability with room for value appreciation.
Exclusively Listed By

