Exceptional Investment Opportunity in Logan Square
2433 N Ridgeway Ave.
Chicago, IL 60647
Located in the highly sought-after Logan Square neighborhood, this property at 2433 N Ridgeway Ave presents an excellent investment opportunity. The area is known for its vibrant community, historic charm, and ongoing revitalization efforts. With easy access to public transportation, local dining, and shopping options, this property is perfectly positioned for both rental income and future appreciation.
Location
2433 N Ridgeway Avenue, Chicago, IL 60647, situated in the vibrant Logan Square neighborhood.
Property Type
Multi-Family (2-4 unit) residential building with potential for both rental income and resale
Property Size
Living Sq Ft: 1,950 | Lot Sq Ft: 3,125
Units
3-Unit property offers spacious living, with each unit featuring 2 bedrooms and 1 bathroom
Located in Logan Square, a sought-after area known for its cultural amenities, access to public transit, and trendy dining and shopping options.
The scope of work involves comprehensive exterior and interior renovations.
Exterior Work Includes:
• Remove and replace any damaged or missing shingles, repair and seal any leaks, and clean the roof surface and clear any debris that may obstruct drainage.
• Check the gutters and downspouts, clearing any blockages to ensure proper drainage. Remove and replace any damaged pieces.
• Prepare the existing stucco in the areas where there is cracking, discoloration, or water damage by removing any damaged stucco and loose debris and then repair, restore, and paint the entire exterior.
• Repair, replace and reinforce deck, stairs, and railings.
• Remove chain fence and install new black metal fencing.
• Remove and replace all windows.
• Landscaping will involve removing the 2 small pines tree in the front and planting Hardy Heart Shaped Hosta Plants, trimming overgrown bushes and trees, installing new sod or seeding bare patches, and cleaning up debris.
Interior Work Includes:
• Install central air heating and AC in both units.
• Removing outdated or damaged fixtures, cabinets, flooring and fully gut out the bathrooms, ensuring proper debris disposal.
• Repair/replace any damaged framing.
• Repaired/replaced damaged drywall.
• Remove existing and install new doors and door trims.
• Remove existing and install new window trims and baseboards.
• Renovate kitchens with new cabinets, countertops, energy-efficient appliances, and upgraded plumbing and electrical systems to support the new installations.
• Bathrooms will be completely renovated with new sheetrock, tiles, windows, showers, vanities, toilets, mirrors, fixtures, and proper sealing, and waterproofing.
• Plumbing and electrical systems will be upgraded to meet current codes, and new lighting fixtures installed.
• Flooring will be properly cleaned and prepared for the installation of new vinyl throughout the entire property.
• New Mechanical systems will be installed.
Finally, the project will conclude with a thorough cleaning of the entire property, both inside and out, followed by a final inspection to ensure all work meets set standards and to address any remaining punch list items. This comprehensive renovation aims to bring the property up to current market standards, ensuring it is safe, functional, and appealing to potential buyers or renters.
Logan Square has a robust rental market with demand for updated and well-maintained units, allowing for competitive rental rates.
Logan Square's popularity has grown over recent years, contributing to steady property value increases in the neighborhood.
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Purchase Price
$498,000.00
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Construction Budget
$169,400.00 (Funds Available for Rehab/Constructions
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After Repair Value
$795,000.00
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Loan Amount
$542,900.00 (Financed by Pied Piper Capital Fund)
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LTV
75%
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Rate
Monthly factor rate of 0.075
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Earnest Money
$100,000.00 Non-Refundable
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Time to Close
30 Days
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Closing Cost
No Closing Cost
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Recourse
Non-Recourse
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Guarantee
Personal Guarantee NOT Required
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Estimates ROI
10%
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Rental Income
$1,850 - $2,300 Per Unit (Based on comparable market rates)
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Zoning
RS-3
*Please note that full financial details on the property and units will be provided once the Earnest Money payment has been received.
Additionally images can be provided upon request.
PIED PIPER CAPITAL FUND LLC OVERVIEW
Seller/Guarantor
Pied Piper Capital Fund LLC
Net Worth
$2,900,000,000.00
Trading Funds
$150,000,000.00
Investment Funds
$1,850,000,000.00 Available
Services Offered
In-House Financing & Insurance
The Pied Piper Capital Fund LLC bond issuance is a Senior Secured Note which is backed by all the assets owned, pledged, and to be acquired by the Issuer and its subsidiaries.
Security/Collateral of the Pied Piper Capital Fund LLC bond issuance.
Collateral Asset #1
Proven Gold Reserves
The bond issuance is backed by Proven Gold Reserves which are valued at $2.965B USD.
Collateral Asset #2
Physical Gold Bars
The bond issuance is backed by $177 Million USD of Gold Bars owned by the company.
Collateral Asset #3
Gemstone
The bond issuance is backed by a $122 Million USD Gemstone owned by the company.
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