Flex Space with Loading
For Sale
$872,000
7650 S Ashland Avenue, Chicago, IL 60620
Commercial Sale, Chicago, IL
Property Size6,895 SF
Lot Size0.44 Acres
Price / SF$126.47
Days on Market131
Property Features for 7650 S Ashland Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Directions
Take Ashland Ave south to 76th St. Property on the east side of Ashland.
Subdivision
CHI - Auburn Gresham
Standard status
Active
APN
20304190370000
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
35561
Utilities
Cooling system
Central Air
Building Details
Year built
2013
Floors in Building
1
Number of units
1
Listing Agency:
Baird & Warner
(312) 242-1000
Listed By:
Shaquelia Smith
(312) 265-8000
Added: May 28
Changed: Aug 19
Last Checked: Oct 5 at 1:06PM
MLS# 12658774
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 flex space offers an open commercial layout with central air, a rear loading dock, and on-site parking. The building was constructed in 2013 and provides a practical foundation for an owner-user or commercial operator seeking adaptable premises.
The property sits on a 0.4361-acre lot at 7650 S Ashland Avenue in Chicago. Its loading configuration and flexible interior support potential distribution, warehousing, light manufacturing, retail, or mixed commercial use, as identified for the property. The combination of dock access, parking, and an open plan allows the interior to be configured around a range of business requirements.
The property sits on a 0.4361-acre lot at 7650 S Ashland Avenue in Chicago. Its loading configuration and flexible interior support potential distribution, warehousing, light manufacturing, retail, or mixed commercial use, as identified for the property. The combination of dock access, parking, and an open plan allows the interior to be configured around a range of business requirements.
Key Highlights
- Rear loading dock supports commercial receiving and distribution needs
- Open interior layout suitable for flexible commercial configuration
- Central Air cooling
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,596
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
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
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 Rate 5%
$1,591,920
Cap Rate 7%
$1,137,086
Cap Rate 9%
$884,400
Alternative Uses
Best Use
Retail
$1.36M
$1.19M – $1.59M
NOI $95,391 @ 7.0% cap · market cap 10.94%
Second Best
Flex RnD
$1.14M
$995.0K – $1.33M
NOI $79,596 @ 7.0% cap · market cap 9.13%
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,589
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Flex space - Open commercial layout includes central air 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: Rear loading dock supports commercial receiving and distribution needs; Open interior layout suitable for flexible commercial configuration; Central Air cooling
