953 N Ashland Ave, Chicago, IL 60622 For Sale

THE ASSET: The property encompasses the first floor of a five-story condominium building and contains 1,200 square feet, and one (1) parking space at the rear of the Property. The Property is currently leased to Evergreen Care Center on a month-to- month basis. Evergreen Care Center currently pays $2,000 per month as well as the condominium/HOA fees which are $1,200 per year. 953 N Ashland Avenue is zoned B1-2 Neighborhood Shopping District.

ZONING: Chicago’s B1-2 (Neighborhood Shopping District) zoning is intended to support small-scale, pedestrian-oriented retail and service uses that serve surrounding residential neighborhoods while allowing residential units above commercial space. The B1 designation focuses on storefront-style development along neighborhood commercial corridors with relatively lower traffic volumes compared to larger commercial districts. The “-2” suffix refers to bulk and density standards, allowing moderate residential density and building intensity.

In general, B1-2 zoning encourages mixed-use buildings with retail or service uses on the ground floor and apartments or offices above. The district typically supports walkable neighborhood commercial corridors and is commonly found along smaller commercial streets throughout Chicago. In B1-2 districts, residential uses are permitted above the ground floor, but ground-floor residential typically requires special approval in most cases.

Permitted Uses are available on the Zoning Page.

REPOSITIONING & VALUE ADD OPPORTUNITY: 953 N Ashland Avenue is in an attractive location with a strong consumer base. The Property is ideal for an owner- user, or as a repositioning opportunity, taking advantage of the well-trafficked location. Additionally, the B1-2 Neighborhood Shopping District Zoning allows for a variety of permitted providing for a wider range of tenants. Please see the list of permitted uses on the Zoning Page.

TRANSIT ORIENTED LOCATION: The Property is located along the CTA Bus Line with a stop for Route 9 in front of the Property and is close to additional routes along N Milwaukee Avenue and W Chicago Avenue.

The Property is convenient to several “L” stations on the CTA Blue line (Division & Chicago) and CTA Green Line (Ashland) as well as Clybourn Metra Station with service on the UP-N & UP-NW lines.

The Property is positioned along N Ashland Avenue, a primary north-south corridor and is close to N Milwaukee Avenue, W Division Street and W Chicago Avenue. The Property is also just 0.3 miles from Interstate 90 and 1.7 miles from Interstate 290.

HIGH-DEMAND URBAN LOCATION: The Property is in Chicago’s West Town neighborhood approximately 2.5 miles northwest of Downtown Chicago. The Property is positioned along N Ashland Avenue, a prime north south artery, and is surrounded by densely populated residential neighborhoods.

The Property offers convenient access to national and local retailers and restaurants including Target, Jewel-Osco, Mariano’s, Lowe’s, Walgreens, CVS, Family Dollar Chick- fil-A, Wendy’s and McDonald’s, all of which drive traffic to the area.

More than 23,200 vehicles pass by the Property each day along N Ashland Avenue. Additionally, more than 33,700 vehicles pass through the adjacent intersection of N Ashland Avenue and W Augusta Boulevard.

EXCEPTIONAL DEMOGRAPHICS: More than 55,000 people live within 1 mile of the Property with an average household income of $212,926. More than 576,600 people live within 3 miles of the Property with an average household income of $195,039. Additionally, there are more than 754,900 employees within 3 miles of the Property.