629 N Ashland Avenue, Chicago, IL 60622

Property & Development Overview
629 N Ashland is an assemblage of five contiguous city lots, comprising a 125’ x 111’ site (approx. 13,875 square feet). Zoned C1-2, this rare land opportunity offers significant scale and flexibility for commercial, mixed‐use, or residential development. The property enjoys excellent frontage on Ashland Avenue and strong visibility in a rapidly evolving urban corridor.

Neighborhood & Market Strengths
Situated in West Town, the site lies near Noble Square and the West Loop—areas experiencing high demand for residential living, retail, and hospitality. West Town is known for its mix of historic architecture and new construction, high walkability, ready access to transit, and proximity to downtown Chicago. (Homes.com)

Demographics & Financial Indicators

• Median household income in the West Town area is approximately $125,000–$130,000+ per year, well above city averages. (Homes.com)

• The neighborhood has a high educational attainment: a large share of residents hold college degrees. (Wikipedia)

• Population is urban, dense, and growing, with strong demand for residential units and retail/services that cater to both local and commuting consumers. (Homes.com)

Comparable Sales / Land Transactions
While exact recent land sales with identical size + zoning are limited, nearby similar parcels have traded at premium prices as developers move to secure sites in corridors like Ashland and Wicker Park. The strong resale and new condo / multi‐unit development values per square foot in West Town reinforce the upside in both retail ground‐floor and residential unit construction. (Homes.com)

Potential Use Cases & Upside Scenarios

• Mixed‐use: ground‐floor commercial (retail, restaurant, studio space) plus multiple stories of residential apartments or condominiums.

• Boutique hospitality or service‐oriented commercial space.

• Multi‐family residential development given rising rents and limited new supply in walkable neighborhoods.

• Phased development: maximize zoning allowances, possibly optimizing lot usage and scale over time.