6617 S Ashland Ave, Chicago, IL 60636
Mixed Use | 15,000 SqFt
Marketing description
Fantastic opportunity to finish the rehab of this mixed-use building with a projected NOI of over $200k/yr. This is a mixed use project consisting 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 (850+ sf) 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.
Investment highlights
2 Story Mixed Use Courtyard building
Demo, new roof, framing, and most masonry have been completed
Great blend of commercial (4) and residential (10) units offers great diversity of income
Project NOI over $200k
Major thoroughfare with over 25,000 cars/day
Bus stop outside of the building and Green line 3 blocks away
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