6617 South Ashland Avenue

Chicago, IL 60636

$475,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Fantastic opportunity to own this mixed-use building located in an Opportunity Zone. With a projected NOI of almost $200k/yr upon completion, this property consists of ten residential units and four commercial units. The rare gated courtyard design of the property provides an insulated, safe environment for the residents. The four commercial units, with fantastic visibility and access to Ashland Ave are the perfect size for entrepreneurs to get their new businesses off the ground with a bang. The...Fantastic opportunity to own this mixed-use building located in an Opportunity Zone. With a projected NOI of almost $200k/yr upon completion, this property consists of ten residential units and four commercial units. The rare gated courtyard design of the property provides an insulated, safe environment for the residents. The four commercial units, with fantastic visibility and access to Ashland Ave are the perfect size for entrepreneurs to get their new businesses off the ground with a bang. The spaces are open, airy and offer flexible layouts that serve a wide range of businesses. The makeup of the residential units is four 1 bedroom units and six 2 bedroom units, each with 1 bathroom. They are all great sized units with big windows and lots of natural light. This is a two story building, convenient for the all tenant types, and also convenient for finishing the rehab (residential plumbing can be PVC, for example). The 4 commercial units will be very easy to fill given their size. They are perfect for NNN tenants like a quick serve restaurant (sandwich shop), barber shop, nail salon, tax/insurance shop etc. The property has been fully demo'd, a new full tear-off roof has been installed, most masonry work is completed and is fully framed out and ready for MEP. Plans have been approved with the city and permits are imminent.

Listing Agent

  1. Tim Lorimer

    Tim Lorimer

    Listing Agent

    Compass

Property Details for 6617 South Ashland Avenue

Area
CHI - West Englewood
Township
Lake

Location

Add your commute
LISTING UPDATED: 04/24/2024 09:34 AM

Property Details for 6617 South Ashland Avenue

StatusPrice Change
MLS #12013199
Days on Market33
Taxes$10,360 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1914
Lot Size0.26 AC / 11,325 SF
CountyCook County

Location

Add your commute

Building Information for 6617 South Ashland Avenue

Stories-Residences14Year Built1914Lot Size0.26 AC / 11,325 SF

Payment Calculator

$3,456 per month

30 year fixed, 7.25% Interest

Principal and Interest

$2,592

Property Taxes

$863

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 6617 South Ashland Avenue

General Information
Addtl Parking Information
  • Outdoor Parking: 6-12 Spaces
  • Open Parking Spaces: 10.0
Location and General Information
  • Geographic Locale: South Suburban
  • Information: List Broker Must Accompany
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: None
  • Electric: Other
  • Heat/Ventilation: None
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 10
Property/Lot Information
  • Tenant Pays: Other
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 0.26 AC
  • Lot Size Square Feet: 11325.0
  • Stories: 2
  • Fire Protection: Other
  • # Of Offices: 0
  • # Of Stores: 4
  • Property Sub Type: Mixed Use
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 9
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 14
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $.00
  • Gross Income: $.00
  • Gross Scheduled Income: $.00
  • Insurance Expense: $.00
  • Total Monthly Income: 0
  • Net Operating Income: $.00
  • Operating Expense: $.00
  • Other Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $.00

Property History for 6617 South Ashland Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 6617 South Ashland Avenue

Taxable ValueLand$10,080Additions$40,289Total$50,369
Tax Record2022$10,360 ($863 / month)
Home Facts
Total Finished SqFt2,600 SqFtAbove Grade Finished SqFt2,600 SqFtStories2Lot Size11,200 SqFtStyleStoresYear Built1914CountyCOOKAPN20-20-116-005

Schools near 6617 South Ashland Avenue

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 7 to 12
Charter - K to 8
Public - PK to 8
Rating
School
Distance
Bass Elementary School
PublicPK to 8

Davis M Magnet Elementary School
PublicPK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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6617 South Ashland Avenue is a mixed use property for sale in Chicago, IL 60636. This property was listed for sale on March 25, 2024 by Compass, it's currently listed at $475,000. It has been on the market for a total of 33 days and was last sold on December 28, 2021. This listing's school district is City Of Chicago School District 299. Nearby schools include Bass Elementary School, Lindblom Math & Science Academy High School and Providence-Englewood Elementary Charter School. 6617 South Ashland Avenue is a 0-bed, 0-bath, mixed use property built in 1914.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.