Street-Level Medical Office
For Sale
$308,000
3615 N Ashland Avenue Unit C1N, Chicago, IL 60613
Ground-floor suite offers four exam rooms, reception, kitchenette, and support space.
Property Size1,036 SF
Price / SF$297.30
Days on Market168
Property Features for 3615 N Ashland Avenue Unit C1N
General Information
Standard status
Active
Size
1,036 SF
Property subtype
COMMERCIAL
Additional Details
Floor
Street Level
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$8,703
Building Details
Building Size
1,036 SF
Year Built
2002
Listing Agency:
Kale Realty 312-939-5253 Overview Additional information MLS R ID 12633290 Interior features Bedrooms 0 Cooling Yes Exterior features Lot Size 0.12 Acres Other property details Taxes $8,703 Tax Frequency Annually Coldwell Banker Dawn McKenna Group Request a tour Contact agent Request a tour Contact agent Listed by Atala Diaz with Kale Realty 312-939-5253
Listed By:
Atala Diaz
(773) 463-7700
Source:
Dawnmckennagroup
Added: Apr 29
Changed: Oct 10
Last Checked: Oct 12 at 11:35PM
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 Kale Realty 312-939-5253 Overview Additional information MLS R ID 12633290 Interior features Bedrooms 0 Cooling Yes Exterior features Lot Size 0.12 Acres Other property details Taxes $8,703 Tax Frequency Annually Coldwell Banker Dawn McKenna Group Request a tour Contact agent Request a tour Contact agent Listed by Atala Diaz with Kale Realty 312-939-5253
Investment Insights
Based on property information with market context.
This 1,036 SF commercial condominium is configured as a street-level medical office with a reception and waiting area, four private exam rooms, a semi-private business office, bathroom, kitchenette, and utility/storage area. Two exam rooms include sinks, and the support area has a washer and dryer. Built in 2002, the suite can accommodate a medical spa, medical or dental practice, health and fitness operation, or other service use identified for the space.
The property is located at 3615 N Ashland Avenue C1n in Chicago’s Lakeview neighborhood. Its ground-floor position provides visibility from a busy street and direct street-level presence for client-facing operations.
The property is located at 3615 N Ashland Avenue C1n in Chicago’s Lakeview neighborhood. Its ground-floor position provides visibility from a busy street and direct street-level presence for client-facing operations.
Key Highlights
- 1,036 SF commercial condominium in a street‑level configuration
- Four private exam rooms, including two with sinks
- Reception and client waiting area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,228
Cap Rate
7.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$444,560
$444.6K
Cap Rate 7%
$317,543
$317.5K
Cap Rate 9%
$246,978
$247.0K
Market Conditions
NOI Build-Up for 1,036 SF
Gross rent
$39.8K $38.40/SF
− Vacancy
−$10.1K −$9.79/SF
EGI
$29.6K $28.61/SF
− OpEx
−$7.4K −$7.15/SF
NOI
$22.2K $21.46/SF
Area
Chicago, IL
Vacancy
25.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$444,560
Cap Rate 7%
$317,543
Cap Rate 9%
$246,978
Alternative Uses
Best Use
Office B
$317.5K
$277.9K – $370.5K
NOI $22,228 @ 7.0% cap · market cap 7.22%
Second Best
Healthcare Medical
$196.1K
$171.6K – $228.8K
NOI $13,725 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$488.5K
$427.4K – $569.9K
NOI $34,193 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,185
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60613, IL
53,048
Population
31,263
Households
1.7
Avg Household Size
34
Median Age
75%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
23,064
Density / Sq Mi
$91,351
Median Household Income
$68,713
Median Earnings
$1,616
Median Rent
$397,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Ground-floor suite offers four exam rooms, reception, kitchenette, and support space.
Where is this medical office space located?
The property is located at 3615 N Ashland Avenue Unit C1N Chicago, IL.
What is the asking price?
The asking price for this property is $308,000.
What are key features of this property?
This property features: 1,036 SF commercial condominium in a street‑level configuration; Four private exam rooms, including two with sinks; Reception and client waiting area
