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    Iconic Corner Terra Cotta Building Title is generated by Realmo AI

    4758 North Ashland Avenue, Chicago, IL 60640

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    For Sale
    $949,900

    Mixed-use building in East Ravenswood/Andersonville neighborhood with high pedestrian traffic.

    Property size:
    2,464 SF
    Price / SF:
    $385/SF
    Added:
    Jan 29, 2026
    Days on Market:
    127
    Last Refresh:
    Mar 13 at 2:28 pm

    Property Features for 4758 North Ashland Avenue

    General Information

    Standard status
    Active
    Size
    2,464 SF

    Building Details

    Year Built
    1924

    We can help!

    Listing Contact
    Lora Vasileva
    Lora Vasileva

    Listing agent Lora Vasileva License #475179441

    Listing office Cedar Realty

    Listing date Jan 29, 2026

    Source Compass

    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 Cedar Realty

    HighLights

    • Iconic corner Terra Cotta building in East Ravenswood/Andersonville with high pedestrian and vehicular traffic.
    • Mixed‑use property with two first‑floor stores and a large basement.
    • Recently renovated 2bed/2bath upstairs unit with vintage details and hardwood floors.
    • Store at 1607 W Lawrence has new mechanicals, 400‑amp electric, dedicated HVAC, and exposed brick with stained‑glass feature.
    • Convenient access to public transit, ample street parking, and proximity to entertainment, restaurants, and shopping.
    • Large upstairs unit kitchen with ample cabinets/counter space, washer/dryer, and natural light.

    Overview

    This iconic corner Terra Cotta Building, located in the East Ravenswood/Andersonville neighborhood, is available for sale for the first time in over twenty years. This mixed-use property is an architectural gem with historic features and a meticulously maintained facade. The building experiences heavy pedestrian traffic and has convenient access to public transit, with ample street parking. The surrounding area offers a variety of entertainment, restaurants, and shopping. The first floor contains two 1200-square-foot stores, each with a half bathroom. The immaculate 2400-square-foot basement features high ceilings. The 1607 W Lawrence store includes new mechanicals and improvements, such as 400-amp electric, a dedicated HVAC unit, a water heater, and sandblasted and sealed exposed brick with a historic interior stained-glass window feature. The upstairs unit is a renovated 2-bed, 2-bath apartment spanning 2200 square feet, retaining vintage details like plaster/stucco ornaments around the five ceiling fans and crown molding. Hardwood floors run throughout the unit, which includes large bedrooms with ample closet space, and a master bedroom with an antique fireplace. The unit also features a large kitchen with plenty of cabinets and counter space, a washer and dryer, and natural light.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6697638
    Latitude
    41.9687299

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building in East Ravenswood/Andersonville neighborhood with high pedestrian traffic.
    Where is this mixed-use property located?
    The property is located at 4758 North Ashland Avenue Chicago, IL.
    What is the asking price?
    The asking price for this property is $949,900.
    What are key features of this property?
    This property features: Iconic corner Terra Cotta building in East Ravenswood/Andersonville with high pedestrian and vehicular traffic.; Mixed‑use property with two first‑floor stores and a large basement.; **Recently renovated 2bed/2bath upstairs unit with vintage details and hardwood floors.**
    (609) 435-0176
    We can help!
    Listing Contact
    Lora Vasileva
    Lora Vasileva
    Real Estate License ID: 475179441
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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