Automotive Repair Facility with
For Sale
$875,000
6915 S Ashland Avenue, Chicago, IL 60636
Established automotive facility with gated commercial land, active utilities, and B3-3 zoning at a signalized intersection.
Property Size9,150 SF
Lot Size0.84 Acres
Price / SF$95.63
Days on Market28
Property Features for 6915 S Ashland Avenue
General Information
Standard status
Active
Size
9,150 SF
Lot size
0.84 Acres
Property subtype
COMMERCIAL
Zoning
B3-3
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Additional Details
Asking Price
$875,000
Land Use
commercial
Taxes and HOA fees
Annual Taxes
$26,370
Building Details
Building Size
9,150 SF
Year Built
1920
Buildings
1
Listing Agency:
Keller Williams ONEChicago
(773) 575-6082
Listed By:
Anthony Hardy · License #475139834
Source:
Dawnmckennagroup
Added: Jul 13
Changed: Aug 9
Last Checked: Aug 9 at 4:35PM
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 Keller Williams ONEChicago
Investment Insights
Based on property information with market context.
This automotive repair property includes a 9,150-square-foot building on a 10,780-square-foot parcel, along with 26,015 square feet of gated adjoining land. The combined offering totals 36,795 square feet, or 0.84 acre. Existing improvements and automotive infrastructure support repair operations, vehicle staging, customer parking, fleet storage, parts storage, and potential expansion. Active utility connections are in place, and the property has operated as a family-owned automotive repair and collision business since 1969.
Zoned B3-3, the site supports continued automotive operations and other commercial uses, with expansion or redevelopment subject to applicable approvals. It occupies the signalized intersection of 69th Street and Ashland Avenue, directly across from Food 4 Less, its fuel center, Chase Bank, Bank of America, Foot Locker, Little Caesars, and Subway. The surrounding grocery, fuel, banking, and retail businesses contribute established daily activity at the intersection.
Zoned B3-3, the site supports continued automotive operations and other commercial uses, with expansion or redevelopment subject to applicable approvals. It occupies the signalized intersection of 69th Street and Ashland Avenue, directly across from Food 4 Less, its fuel center, Chase Bank, Bank of America, Foot Locker, Little Caesars, and Subway. The surrounding grocery, fuel, banking, and retail businesses contribute established daily activity at the intersection.
Key Highlights
- 36,795 SF of contiguous land, including a 9,150 SF automotive repair and retail building
- Additional 26,015 SF of gated commercial land
- B3‑3 zoning across the property
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
$57,379
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
6.56%
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%
$1,147,580
$1.1M
Cap Rate 7%
$819,700
$819.7K
Cap Rate 9%
$637,544
$637.5K
Market Conditions
NOI Build-Up for 9,150 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
$86.3K $9.43/SF
− Vacancy
−$4.3K −$0.47/SF
EGI
$82.0K $8.96/SF
− OpEx
−$24.6K −$2.69/SF
NOI
$57.4K $6.27/SF
Area
Chicago, IL
Vacancy
5.00%
Lease Rate
$9.43 /SF/Yr
Expense Ratio
30.00%
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%
$1,147,580
Cap Rate 7%
$819,700
Cap Rate 9%
$637,544
Alternative Uses
Best Use
Retail
$1.81M
$1.58M – $2.11M
NOI $126,588 @ 7.0% cap · market cap 14.47%
Second Best
Industrial
$819.7K
$717.2K – $956.3K
NOI $57,379 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$4.31M
$3.77M – $5.03M
NOI $301,994 @ 7.0% cap · market cap 34.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
54k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 86%
Shops & Services 14%
Food 4 Less
Groceries
46,324 visits/mo
0.2 miles
BP
Shops & Services
7,702 visits/mo
0.2 miles
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
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Established automotive facility with gated commercial land, active utilities, and B3-3 zoning at a signalized intersection.
Where is this auto shop located?
The property is located at 6915 S Ashland Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 36,795 SF of contiguous land, including a 9,150 SF automotive repair and retail building; Additional 26,015 SF of gated commercial land; B3‑3 zoning across the property
