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    1524 Ashland Ave Chicago, IL 60622

    Sponsored
    For Lease
    $30 SF/Yr

    1207 SF Retail, Parking, Basement Storage

    Lot size:
    1,207 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Wicker Park property offers a unique 1,207 square foot retail space with four parking spaces and an additional 1,207 square feet of basement storage. Located on North Ashland Avenue, this single-tenant building boasts prime curb exposure and benefits from high foot traffic in a vibrant neighborhood with 20,000 vehicles passing daily. The building, renovated in 2001, features brand new electrical wiring, furnace, HVAC system, and copper plumbing. The retail space is turnkey ready, offering a white box condition with a built-out ADA-compliant bathroom. The B3-2 zoning allows for diverse uses, including retail, restaurant, office, or medical. The property's convenient location provides easy access to I-90/94, public transportation, and the 606 trail. The potential for future residential space above the retail area adds significant long-term value. The owner is offering rent credits to offset tenant improvement costs. Immediate occupancy is available.

    Property Features for 1524 Ashland Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1,207 SF
    Class
    B

    Building Details

    Year Renovated
    2021
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    Size
    1,207 SF
    Rate per SF
    $30

    HighLights

    • 1,207 SF retail space in a renovated building.
    • Single‑tenant occupancy.
    • 4 parking spaces.
    • Located in the Wicker Park submarket, with high foot traffic and proximity to I‑90/94 and public transit.
    • B3‑2 zoning allows for various uses (retail, restaurant, office, medical).
    • Includes 1,207 SF of basement storage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.667710356242
    Latitude
    41.909524303436

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    FAQs

    What type of property is this?
    Restaurant - 1207 SF Retail, Parking, Basement Storage
    Where is this restaurant located?
    The property is located at 1524 Ashland Ave Chicago, IL.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: 1,207 SF retail space in a renovated building.; Single-tenant occupancy.; 4 parking spaces.
    Request Owner's contact information
    1524 Ashland Ave Chicago, IL 60622
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1524 Ashland Ave Chicago, IL 60622
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