Move-In-Ready Medical Office
For Sale
$375,000
6059 S Ashland Avenue, Chicago, IL 60636
Move-in-ready medical office with reception, private offices, lab/work area, restrooms, and on-site plus street parking.
Property Size2,550 SF
Price / SF$147.06
Days on Market110
Property Features for 6059 S Ashland Avenue
General Information
Standard status
Active
Size
2,550 SF
Property subtype
COMMERCIAL
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$12,096
Building Details
Building Size
2,550 SF
Year Built
1951
Listing Agency:
Infiniti Properties, Inc.
Listed By:
De Janette Cummings
(708) 704-3304
Source:
Dawnmckennagroup
Added: Jun 7
Changed: Sep 22
Last Checked: Sep 22 at 10:51PM
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 Infiniti Properties, Inc.
Investment Insights
Based on property information with market context.
Move-in-ready medical office building offering 2,550 SF of flexible space. The layout includes a reception/waiting area, private offices, a lab/work area, and restrooms. Multiple office rooms are supported by sink and desk stations, designed for quick tenant setup.
The property includes private on-site parking plus street parking, supporting convenient access for staff and visitors. Built in 1951, the building is presented as an excellent-condition, low-work option for a range of service and professional uses.
Whether you’re seeking a medical, dental, wellness, beauty, salon suite, or professional office configuration, the interior room mix provides dedicated areas for front-of-house reception, private workspaces, and lab or work functions.
The property includes private on-site parking plus street parking, supporting convenient access for staff and visitors. Built in 1951, the building is presented as an excellent-condition, low-work option for a range of service and professional uses.
Whether you’re seeking a medical, dental, wellness, beauty, salon suite, or professional office configuration, the interior room mix provides dedicated areas for front-of-house reception, private workspaces, and lab or work functions.
Key Highlights
- 2,550 SF medical office building with flexible room layout
- Reception/waiting area plus private office space
- Lab/work area and restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,782
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$675,640
$675.6K
Cap Rate 7%
$482,600
$482.6K
Cap Rate 9%
$375,356
$375.4K
Market Conditions
NOI Build-Up for 2,550 SF
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.
Gross rent
$61.2K $24.00/SF
− Vacancy
−$4.9K −$1.92/SF
EGI
$56.3K $22.08/SF
− OpEx
−$22.5K −$8.83/SF
NOI
$33.8K $13.25/SF
Area
Chicago, IL
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$675,640
Cap Rate 7%
$482,600
Cap Rate 9%
$375,356
Alternative Uses
Best Use
Office B
$781.6K
$683.9K – $911.9K
NOI $54,713 @ 7.0% cap · market cap 14.59%
Second Best
Healthcare Medical
$482.6K
$422.3K – $563.0K
NOI $33,782 @ 7.0% cap · market cap 9.01%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,162 @ 7.0% cap · market cap 22.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
716
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60636, IL
34,800
Population
14,363
Households
2.4
Avg Household Size
35
Median Age
11%
College-Educated
78%
High-School Grad
3.9 sq mi
ZIP Area
8,923
Density / Sq Mi
$35,077
Median Household Income
$30,411
Median Earnings
$1,135
Median Rent
$150,600
Median Home Value
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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 - Move-in-ready medical office with reception, private offices, lab/work area, restrooms, and on-site plus street parking.
Where is this medical office space located?
The property is located at 6059 S Ashland Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2,550 SF medical office building with flexible room layout; Reception/waiting area plus private office space; Lab/work area and restrooms
