West Town Brick Warehouse with
For Sale
Under Contract
$549,900
526 N Ashland Avenue, Chicago, IL 60622
COMMERCIAL - Chicago, IL
Property Size2,400 SF
Lot Size0.06 Acres
Price / SF$229.13
Days on Market176
Property Features for 526 N Ashland Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
NORTH AVENUE EAST FROM KENNEDY EXPRESSWAY TO ADA TURN LEFT TO 1686
Subdivision
CHI - West Town
Standard status
Active Under Contract
APN
17072240220000
Size
2,400 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
20645
Utilities
Utilities
Natural Gas Available
Building Details
Year built
1920
Floors in Building
2
Flooring type
Tile
Building materials
Brick
Roof type
Rubber
Listing Agency:
United Real Estate-Chicago
(630) 748-4660
Listed By:
Katarzyna Kaminska · License #475162955
(630) 748-4660
Added: Feb 5
Changed: Apr 28
Last Checked: Jul 31 at 2:06AM
MLS# 12562093
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
This 2,400 square feet brick distribution warehouse, zoned B3-2, is located in the West Town area. The commercial property includes 4 offices, with 3 spacious offices on the first level and 1 large office on the second level, along with storage, a warehouse area, and 1 full and 2 half bathrooms. Recent upgrades include a new front door in 2020, new HVAC in 2021, A/C in 2023, a new water heater in 2020, a new garage door opener in 2024, and a new rubber roof in 2022. The property is currently leased and offers rental income potential. The location provides close proximity to grocery stores such as Marianos, coffee shops, entertainment venues, dining options, the Metra, and I90. The lot size is 0.0602 acres.
Key Highlights
- 2,400 sq ft brick distribution warehouse in desirable West Town area.
- B3‑2 zoning offers versatile usage possibilities.
- Recent upgrades: new roof (2022), HVAC/AC (2021/2023), and water heater (2020)
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.6k | $9.43 |
| − Vacancy | −$1.2k | −$0.52 |
| EGI | $21.4k | $8.91 |
| − OpEx | −$3.2k | −$1.34 |
| NOI | $18.2k | $7.57 |
2,400 SF · lease $9.43/SF/yr · vacancy 5.50% · expense 15.00%
Alternative Uses
Best Use
Office B
$735.6K
$643.7K – $858.2K
NOI $51,494 @ 7.0% cap · market cap 9.36%
Second Best
Warehouse
$259.7K
$227.2K – $303.0K
NOI $18,179 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$1.13M
$990.2K – $1.32M
NOI $79,212 @ 7.0% cap · market cap 14.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,061
Businesses Nearby
Explore this area
Business Placement
Demographics for 60622, IL
55,075
Population
27,630
Households
2
Avg Household Size
33
Median Age
73%
College-Educated
94%
High-School Grad
2.5 sq mi
ZIP Area
22,030
Density / Sq Mi
$124,852
Median Household Income
$76,180
Median Earnings
$1,932
Median Rent
$622,900
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Distribution property - 2,400 SF brick warehouse with offices in West Town.
Where is this distribution property located?
The property is located at 526 N Ashland Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 2,400 sq ft brick distribution warehouse in desirable West Town area.; B3‑2 zoning offers versatile usage possibilities.; Recent upgrades: new roof (2022), HVAC/AC (2021/2023), and water heater (2020)
