5257 Ashland Ave Chicago, IL 60609

This exceptional 12,901 square foot executive office building, located at 5257 S Ashland Ave in Chicago's New City community, presents a compelling investment opportunity. Built in 2004 and extensively renovated in 2023, the property boasts a 100% occupancy rate, generating a substantial net operating income (NOI) of $271,144 and a 6.50% cap rate. The anchor tenant is the General Services Administration (GSA), occupying 8,776 square feet under a ten-year lease (five years firm) commencing May 15, 2023. This GSA lease represents a Social Security Office, relocated from a nearby location, with a significant build-out investment exceeding one million dollars. The remaining 4,214 square feet is leased to three retail tenants: a convenience store, a nail salon, and a phone store, all operating at market rent. The building features a new roof, new HVAC systems, and a completely modernized interior. Situated on a 0.689-acre lot with 40 parking spaces and two curb cuts (one on Ashland and one on 53rd Street), the property benefits from a traffic light intersection and a densely populated area. The C1-2 Commercial zoning allows for a variety of uses. This prime location is at the northeast corner of 53rd and Ashland, within a major shopping and business district along Ashland Avenue and 47th Street. The property's strong tenant mix, high occupancy, and recent renovations make it an attractive investment with significant long-term potential.