Flex Building With Loading
New
For Sale
$872,000
7650 S Ashland Avenue, Chicago, IL 60620
Open commercial layout with rear loading access and on-site parking.
Property Size6,624 SF
Lot Size0.43 Acres
Price / SF$126.47
Days on Market3
Property Features for 7650 S Ashland Avenue
General Information
Standard status
Active
Size
6,624 SF
Lot size
0.43 Acres
Property subtype
Commercial
Additional Details
Loading
Rear Load
Taxes and HOA fees
Annual Taxes
$35,561
Building Details
Building Size
6,624 SF
Year Built
2013
Stories
1
Units
1
Listing Agency:
Baird & Warner
(312) 242-1000
Listed By:
Shaquelia Smith
(312) 242-1000
Source:
Allinonerealestateco
Added: Aug 7
Changed: Aug 8
Last Checked: Aug 9 at 1:25PM
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 Baird & Warner
Investment Insights
Based on property information with market context.
This flex property provides over 6,895 square feet of open commercial space on an 18,556-square-foot lot. Constructed in 2013, the building offers a flexible interior suitable for distribution, warehousing, light manufacturing, retail, or mixed commercial use. A rear loading dock supports material handling, while on-site parking serves staff and visitors.
The property is located at 7650 S Ashland Avenue in Chicago, Illinois. Its open configuration can accommodate an owner-user seeking to customize the space or an investor evaluating a commercial asset with adaptable functionality.
The property is located at 7650 S Ashland Avenue in Chicago, Illinois. Its open configuration can accommodate an owner-user seeking to customize the space or an investor evaluating a commercial asset with adaptable functionality.
Key Highlights
- Over 6,895 square feet of open commercial space
- 18,556‑square‑foot lot
- Rear loading dock supports distribution and warehouse operations
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
$79,596
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
9.13%
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%
$1,591,920
$1.6M
Cap Rate 7%
$1,137,086
$1.1M
Cap Rate 9%
$884,400
$884.4K
Market Conditions
NOI Build-Up for 6,895 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
$132.4K $19.20/SF
− Vacancy
−$9.9K −$1.44/SF
EGI
$122.5K $17.76/SF
− OpEx
−$42.9K −$6.22/SF
NOI
$79.6K $11.54/SF
Area
Chicago, IL
Vacancy
7.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
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%
$1,591,920
Cap Rate 7%
$1,137,086
Cap Rate 9%
$884,400
Alternative Uses
Best Use
Flex RnD
$1.14M
$995.0K – $1.33M
NOI $79,596 @ 7.0% cap · market cap 9.13%
Second Best
Warehouse
$746.1K
$652.8K – $870.5K
NOI $52,227 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$3.25M
$2.84M – $3.79M
NOI $227,568 @ 7.0% cap · market cap 26.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
806
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60620, IL
66,514
Population
30,008
Households
2.2
Avg Household Size
41
Median Age
20%
College-Educated
88%
High-School Grad
7.0 sq mi
ZIP Area
9,502
Density / Sq Mi
$48,805
Median Household Income
$36,285
Median Earnings
$1,093
Median Rent
$187,900
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Open commercial layout with rear loading access and on-site parking.
Where is this flex space located?
The property is located at 7650 S Ashland Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $872,000.
What are key features of this property?
This property features: Over 6,895 square feet of open commercial space; 18,556‑square‑foot lot; Rear loading dock supports distribution and warehouse operations
