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West Town Mixed-Use Opportunity

1325 N Ashland Avenue, Chicago, IL 60622

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For Sale

$660,000

Legal 3-flat with redevelopment potential in prime West Town.

Property size:

2,400 SF

Price / SF:

$275/SF

HighLights

Prime West Town location near Division, Ashland, and Milwaukee, with excellent access to transportation.
Legal 3‑flat with B2‑3 zoning, offering flexible redevelopment and mixed‑use potential.
Significant value‑add opportunity with major demolition, new roof, gutters, windows, and framing already completed.
Garden unit with potential for commercial or residential conversion.
Detached 2.5‑car garage with rooftop deck potential.
Open to build‑to‑suit concepts with a unique layout offering multiple design and income strategies.

We can help!

Contact an agent

MARIO FIERRO

For Sale

$660,000

Legal 3-flat with redevelopment potential in prime West Town.

Property size:

2,400 SF

Price / SF:

$275/SF

Added:: Mar 21, 2026
Days on Market:: 107
Last Refresh:: Mar 21 at 8:10 pm

Property Features for 1325 N Ashland Avenue

General Information

Standard status: Active
Size: 2,400 SF

Building Details

Year Built: 1931

We can help!

Contact an agent

MARIO FIERRO

Listing office FIERRO LEGACY REALTY INC

Listing date Mar 21, 2026

Source Corcoran

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of FIERRO LEGACY REALTY INC

HighLights

Prime West Town location near Division, Ashland, and Milwaukee, with excellent access to transportation.
Legal 3‑flat with B2‑3 zoning, offering flexible redevelopment and mixed‑use potential.
Significant value‑add opportunity with major demolition, new roof, gutters, windows, and framing already completed.
Garden unit with potential for commercial or residential conversion.
Detached 2.5‑car garage with rooftop deck potential.
Open to build‑to‑suit concepts with a unique layout offering multiple design and income strategies.

Overview

This legal 3-unit building in the West Town area of Chicago presents an investment opportunity with value-add potential. The property, zoned B2-3, offers approximately 2,400 sq ft above grade, with an additional 1,200 sq ft garden unit. Substantial initial work has been completed, including major demolition, a new roof, new gutters, new windows, and completed framing. The garden unit has increased ceiling height, offering the option to convert it to commercial or residential use. A detached 2.5-car garage provides rooftop deck potential. The property's layout allows for multiple design and income strategies and is open to build-to-suit concepts. Located near Division, Ashland, and Milwaukee, the property is in close proximity to the Blue Line, I-90/94, and multiple bus routes, making it accessible for both residential and commercial tenants.

Local Financial Insights For Mixed Use

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$72.0k	$30.00
− Vacancy	−$7.2k	−$3.00
EGI	$64.8k	$27.00
− OpEx	−$24.3k	−$10.13
NOI	$40.5k	$16.88

2,400 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%

Alternative Uses

Best Use

Mixed Use

$578.6K

$506.3K – $675.0K (±1% cap)

NOI $40,500 @ 7.0% cap · market cap 6.14%

Second Best

Multifamily LT 5

$571.5K

$500.1K – $666.8K (±1% cap)

NOI $40,008 @ 7.0% cap · market cap 6.06%

Theoretical Best

Office A

$1.13M

$990.2K – $1.32M (±1% cap)

NOI $79,212 @ 7.0% cap · market cap 12.00%

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

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

Location Insight

Map
Local Demand

City: Chicago
County: Cook
State: Illinois
Longitude: -87.6671654
Latitude: 41.9058864

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For sale
Triplexes
IL
Chicago
60622
1325 N Ashland Avenue

What type of property is this?

Triplex - Legal 3-flat with redevelopment potential in prime West Town.

Where is this triplex located?

The property is located at 1325 N Ashland Avenue Chicago, IL.

What is the asking price?

The asking price for this property is $660,000.

What are key features of this property?

This property features: Prime West Town location near Division, Ashland, and Milwaukee, with excellent access to transportation.; Legal 3‑flat with B2‑3 zoning, offering flexible redevelopment and mixed‑use potential.; **Significant value‑add opportunity** with major demolition, new roof, gutters, windows, and framing already completed.