Request Private Showing

Property Description

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 8 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.

Features & Information

Key Details

List Price $1,485,000
Property Taxes $15,710
Price/ Sq. Ft. Unavailable
Year Built 1963
Status Active

Building Information

Age of Building Older
Heating & Cooling Hot Water, Radiators, Baseboard

Location

County Cook
Directions to Property West Of Damen 7 East Of Western, Two Blocks North Of Petersen.

Property Taxes
Tax 15710
Parcel Identification Number 14061200030000

Listed by Stephen Rachman for Marcus & Millichap Chicago Apartment Brokers | Source: MRED as distributed by MLS GRID

Based on information submitted to the MLS GRID as of 4/18/2025 7:02 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Explore West Ridge

West Rogers Park, also known as West Ridge or Nortown, is a convenient 10 miles from the Loop on the city's north side. This quiet Chicago neighborhood is an affordable trend on the rise where diversity flourishes in the community, culture and cuisine. In West Rogers Park middle-class living meets old Chicago aristocracy with a hodgepodge of up market, historic mansions and more reasonably priced Georgians, ranches and bungalows. Beautiful brick buildings, lush vegetation, and an appreciation of past architectural treasures are found at every turn. Also around every turn are incredible culturally inspired restaurants that tip the scale at both ends with wonderful fine dining spots and quick bites on the go. West Rogers Park is a Chicago neighborhood that doesn't conform to retail fads, instead staying true to its heritage and traditions with ethnic-centric boutiques and specialty shops.

Mortgage Calculator

List Price${ formatCurrency(listPrice) }
Taxes${ formatCurrency(propertyTaxes) }
Assessments${ formatCurrency(assessments) }

List Price
Taxes
Assessments

Estimated Monthly Payment

${ formatCurrency(monthlyTotal) } / month

Principal & Interest${ formatCurrency(monthlyPrincipal) }
Taxes${ formatCurrency(monthlyTaxes) }
Assessments${ formatCurrency(monthlyAssessments) }

All calculations are estimates for informational purposes only. Actual amounts may vary. Current rates provided by Rate.com