525-527 Ashland Ave, Chicago, IL 60622

This exceptional mixed-use investment opportunity presents a compelling value-add proposition. Located at 525-527 N. Ashland Ave in Chicago, IL, this property boasts a prime location near the intersection of Grand and Ashland Avenues. The offering encompasses two buildings, constructed in 1879, each two stories high, totaling four units across a combined footprint. Currently operating at 50% occupancy with two tenants under a gross lease structure, the property generates a net operating income (NOI) of $4,400 annually, yielding a 0.31% cap rate. The asking price is $1,400,000, representing a fee simple ownership opportunity. The property is zoned for commercial use and is currently bank-owned, offering a unique foreclosure opportunity. Seller financing is available with a 30-year fixed mortgage requiring a 20% down payment. The seller covers all closing costs and there are no outstanding violation fees. The property is sold "as is," with limited additional information available for review. This presents a strong potential for increased profitability through improved occupancy and management. The property's location in a busy commercial area offers significant upside for the right buyer.