Price Reduction
Address
6617 S Ashland Avenue, Chicago, IL
Price
$ 475,000
Property Attributes
- MLS#12013199
- TypeCommercial
- CountyCOOK
- CityChicago
- AreaCHI - West Englewood
- NeighborhoodEnglewood
- Zip60636
- Style
- Year Built1914
- Taxes$ 10360
- Price$ 475,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size11,325 SqFt
Data Source:
Midwest Real Estate Data (MRED)
Property 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 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.
| Price History | |
|---|---|
| 3/25/2024 | Listed $499,900 |
| 4/24/2024 | 5% - $475,000 |
General Features
| Cooling | None |
|---|---|
| Year Built | 1914 |
| Electric | Other |
| Tenant Pays | Other |
| Stories | 2 |
| Township | Lake |
| Property SubType | Mixed Use |
| Tax Year | 2022 |
| County | Cook |
| Property Type | Commercial Sale |
| Status | Active |
| Directions | West on Marquette Rd to Ashland. North to property. |
| City | Chicago |
| Total Units | 14 |
| MLS Area | CHI - West Englewood |
| Lot Size Square Feet | 11325 |
| Street Name | Ashland |
| Tax Annual Amount | 10360 |
| Additional Parcels Y/N | No |
| Days on Market | 41 |
| Standard Status | Active |
| Property Type | Mixed Use |
Interior Features
| Street Suffix | Avenue |
|---|
Exterior Features
| Lot Dimensions | 0.26 AC |
|---|
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 60636
Price
Taxes
Visits
Year Built
