Corner Retail and Residential
614 North Ashland Avenue Chicago, IL 60622
614 North Ashland Avenue, Chicago, IL, 60622
$1,300,000
For Sale
$1,300,000
Corner property with a full-width first-floor commercial space and kitchen, plus residential living above and a private patio.
Property Size4,700 SF
Price / SF$276.60
Days on Market56
Property Features for 614 North Ashland Avenue
General Information
- Standard status
- Active
- Size
- 4,700 SF
Building Details
- Year Built
- 1885
Listing agency
Spot Real Estate
(312) 953-9879
Listed by
Mark Miles · License #471007960
(312) 953-9879
Source
Compass
Added: May 29 Updated: Jul 22 at 6:39PM Checked: Jul 22 at 6:39PM
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 Spot Real Estate
Investment Insights
Based on property information with market context.
This corner property sits on a 47 x 100 double lot and includes a first-floor open commercial layout spanning the full 47-foot width, currently arranged with a built-for-use kitchen and AV components. The main level also has a full bath with shower and a separate half bath. A full basement runs under one building with laundry, storage, and impressive ceiling height. Outside, there is a tree-covered patio with landscaping and direct access to a 2-car garage.
The second floor provides residential living with a living and dining area featuring exposed brick, a chef’s kitchen with high-end Viking appliances, and a rear bedroom with an ensuite bath that opens to a private deck. The second floor has its own dedicated HVAC system with a separate furnace and A/C.
Recent improvements include a completed addition in 2013 and a roof replacement on the existing two-story building in 2015. First-floor spaces are divided by sleek sliding glass panels for flexibility, and the property is zoned B3-2 with active upzoning reported in the surrounding area.
The second floor provides residential living with a living and dining area featuring exposed brick, a chef’s kitchen with high-end Viking appliances, and a rear bedroom with an ensuite bath that opens to a private deck. The second floor has its own dedicated HVAC system with a separate furnace and A/C.
Recent improvements include a completed addition in 2013 and a roof replacement on the existing two-story building in 2015. First-floor spaces are divided by sleek sliding glass panels for flexibility, and the property is zoned B3-2 with active upzoning reported in the surrounding area.
Key Highlights
- 47 x 100 corner double lot in West Town
- Zoned B3‑2 with active upzoning all around
- Full‑width (47‑foot) open commercial space on the first floor with a full kitchen
Local Financial Insights For Retail
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 | $101.5k | $21.60 |
| − Vacancy | −$8.6k | −$1.84 |
| EGI | $92.9k | $19.76 |
| − OpEx | −$27.9k | −$5.93 |
| NOI | $65.0k | $13.83 |
4,700 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$928.9K
$812.8K – $1.08M
NOI $65,024 @ 7.0% cap · market cap 5.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,123 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Laurie Proffitt Photography
Photography Service
Similar For Sale Nearby
Similar Off Market Nearby
- The Flower Firm — 1945 W Fulton St, Chicago, IL 60612
- Italian Court Flowers, Inc. — 2021 W Fulton St, Chicago, IL 60612
- Floral Creations — Chicago, IL 60607
- The Flower Hustler — 2000 W Carroll Ave, Chicago, IL 60612
- Fragrant Design — 1821 W Hubbard St, Chicago, IL 60622
FAQs
What type of property is this?
Storefront property - Corner property with a full-width first-floor commercial space and kitchen, plus residential living above and a private patio.
Where is this storefront property located?
The property is located at 614 North Ashland Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 47 x 100 corner double lot in West Town; Zoned B3‑2 with active upzoning all around; Full‑width (47‑foot) open commercial space on the first floor with a full kitchen
