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    6617 S Ashland Ave Chicago, IL 60636

    For Sale
    $450,000

    Mixed Use - Chicago, IL

    Type:Mixed Use
    Days on Market:
    385
    Last Refresh:
    Dec 10 at 9:06 pm

    Property Features for 6617 S Ashland Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Standard status
    Active
    Zoning
    COMMR
    APN
    20201160050000

    Building Details

    Year built
    1914
    Number of units
    14
    Architectural style
    Other

    Compass Real Estate

    Listing agent Tim Lorimer (773) 482-1917

    Listing date Nov 21, 2024

    MLS# 12215075 Listing URL

    Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Building in Opportunity Zone

    This mixed-use building is located in an Opportunity Zone and features a gated courtyard design. The property includes ten residential units, consisting of four 1-bedroom units and six 2-bedroom units, each with 1 bathroom. The residential units are described as being of great size, with big windows and lots of natural light. Additionally, there are four commercial units with visibility and access to Ashland Ave, suitable for entrepreneurs and a range of businesses due to their open, airy layouts. The two-story building is fully demo'd, with a new full tear-off roof installed, and most masonry work completed. It is fully framed out and ready for MEP. Plans have been approved with the city, and permits are imminent. The commercial units are suitable for NNN tenants such as a quick-serve restaurant, barber shop, nail salon, or tax/insurance shop. Upon completion, the property is projected to have an NOI of almost $200k/year.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.663618429814
    Latitude
    41.7733615

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building with ten residential and four commercial units.
    Where is this mixed-use property located?
    The property is located at 6617 S Ashland Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: - Projected NOI of almost $200k/yr upon completion.; - Located in an Opportunity Zone.; - Ten residential units (four 1-bedroom, six 2-bedroom) and four commercial units.
    (773) 482-1917
    Request Owner's contact information
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    Chicago, IL 60636
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    6617 S Ashland Ave Chicago, IL 60636
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