$ 450,000
6617 S Ashland AVE Chicago, IL 60636
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 450,000
Est. payment /mo
Active Under Contract
6617 S Ashland AVE Chicago, IL 60636
UPDATED:
10/07/2024 04:45 PM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 12013199
Year Built 1914
Annual Tax Amount $10,360
Tax Year 2022
Lot Dimensions 0.26 AC
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.
Location
State IL
County Cook
Area Chi - West Englewood
Interior
Cooling None
Fireplace N
Building
Dwelling Type Mixed Use
Level or Stories 2
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Listed by Tim Lorimer • Compass