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    5124 Ashland Ave Chicago, IL 60609

    Sponsored
    For Sale
    $229,900

    2700 sq ft lot, $229,900

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2,700 square foot commercial lot, located at 5124 S Ashland Avenue in Chicago, Illinois, presents a unique investment opportunity. Zoned for commercial use, this property offers significant potential for redevelopment or expansion. The asking price is $229,900. The property is being sold "as-is/where-is." The lot's size provides ample space for various commercial ventures. The property's address is within Cook County, Illinois, and its zip code is 60609. While the current structure includes four units – a storefront and three residential units (one 2-bedroom/1-bath unit on the first floor, and two 2-bedroom/1-bath units on the second floor) – along with a two-car garage, the property's potential extends beyond its current configuration. The existing units could generate rental income, making this a potentially lucrative investment. The property's location in Chicago offers excellent access to transportation and a diverse customer base. Serious inquiries are encouraged to explore the possibilities this prime commercial lot offers. This is a chance to acquire a valuable piece of Chicago real estate with significant upside potential. The property is classified as Special Purpose Land. Buyers are responsible for conducting their own due diligence.

    Property Features for 5124 Ashland Ave

    General Information

    Property type
    Land

    HighLights

    • 2,700 SF commercial lot in Chicago, IL, asking $229,900.
    • Located at 5124 S Ashland Ave, Chicago, IL 60609 (Cook County).
    • Zoned for commercial use, offering redevelopment or expansion potential.
    • Currently features a storefront and three residential units (one 2‑bed/1‑bath on the first floor, two 2‑bed/1‑bath units on the second floor), plus a two‑car garage.
    • Sold "as‑is/where‑is"; buyer responsible for due diligence.
    Property Profile Location Intelligence

    Current Use by Public Records

    ML IMPORTS, LLC Importer

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6650937
    Latitude
    41.800595

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    FAQs

    What type of property is this?
    Land - 2700 sq ft lot, $229,900
    Where is this land located?
    The property is located at 5124 Ashland Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $229,900.
    What are key features of this property?
    This property features: 2,700 SF commercial lot in Chicago, IL, asking $229,900.; Located at 5124 S Ashland Ave, Chicago, IL 60609 (Cook County).; Zoned for commercial use, offering redevelopment or expansion potential.
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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
    5124 Ashland Ave Chicago, IL 60609
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