Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    629 N Ashland Ave Chicago, IL 60622
    Back to Search
    Property profile & analytics

    629 N Ashland Ave, Chicago, IL 60622

    View on Map
    • Auto shops
    • 4,700 SF
    • 0.12 lot acres
    For Sale
    $4,000,000
    View Listing →
    Ashland Avenue Development Opportunity For Sale
    $4,000,000
    0.32 Acres

    Ashland Avenue Development Opportunity

    Prime commercial land for development in a growing Chicago corridor.

    629 N Ashland Avenue, Chicago, IL 60622
    View Listing
    Property ID
    US28-5370455
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • gateway auto service and collision inc / Auto Repair Shop
    • Saab Mobile Mechanic Service Chicago / Auto Repair Shop
    • Gateway Auto Services / Auto Repair Shop
    • Erie Collision Center / Auto Repair Shop

    Property Details for 629 N Ashland Ave

    Year built
    1951
    Lot size
    0.12 lot acres
    Property type
    Auto shops
    APN
    17-08-115-001
    APU
    1708115001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6669
    Latitude
    41.8932
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $8,921
    $25,925
    $17,446
    $43,371
    -
    $103,700
    $69,784
    $173,484

    Comparable in this City

    • Value Estimation by Request
      2,000 SF

      2849 Chicago Ave

      AUTO REPAIR, GARAGE
      2849 Chicago Ave, Chicago, IL 60622
      View Details
    • Value Estimation
      $720,000
      5,100 SF

      2545 Chicago Ave

      AUTO REPAIR, GARAGE
      2545 Chicago Ave, Chicago, IL 60622-4516
      View Details
    • Value Estimation
      $705,000
      6,200 SF

      2718 Chicago Ave, Unit 20

      AUTO REPAIR, GARAGE
      2718 Chicago Ave, Chicago, IL 60622-4404
      View Details
    • Value Estimation by Request
      7,800 SF

      1509 Ashland Ave

      AUTO REPAIR, GARAGE
      1509 Ashland Ave, Chicago, IL 60622
      View Details
    • Value Estimation by Request
      0.06 Acres

      1501 Ashland Ave, Unit 15

      AUTO REPAIR, GARAGE
      1501 Ashland Ave, Chicago, IL 60622-2228
      View Details
    • Value Estimation by Request
      6,500 SF

      641 Ashland Ave

      AUTO REPAIR, GARAGE
      641 Ashland Ave, Chicago, IL 60622-6013
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      180 SF

      Ukrainian Village Parking Space

      Deeded Parking: Prime Chicago Location
      2101 Rice St, Chicago, IL 60622
      View Details
    • Contact for pricing
      10 SF

      Ukrainian Village Parking Space

      Prime parking space in a vibrant Chicago neighborhood.
      2101 W Rice St, Chicago, IL 60622
      View Details
    • Contact for pricing
      28,442 SF

      Loft Building with Parking Lot

      Masonry and timber loft near West Loop and Fulton Market.
      431 N Wolcott Ave, Chicago, IL 60622
      View Details
    • Contact for pricing
      10 SF

      Ukrainian Village Parking Space

      Parking space in a vibrant Chicago neighborhood, great investment.
      2101 W Rice St, Chicago, IL 60622
      View Details
    • Contact for pricing

      Humboldt Park Corner Lot Opportunity

      Corner lot with redevelopment potential in vibrant Humboldt Park.
      958 N California Ave, Chicago, IL 60622
      View Details

    Similar Nearby for Lease

    • $29 SF/Yr

      Prime Retail Space Available

      Rehabbed retail storefront in vibrant Chicago corridor.
      1103 N Western Ave, Chicago, IL 60622
      View Details
    • $35 SF/Yr

      North Ashland Avenue Retail Space

      Retail space with high traffic and overflow potential.
      935 N Ashland Ave, Chicago, IL 60622
      View Details
    • Contact for pricing

      Commercial Space Chicago, IL

      Commercial space for rent in Chicago, Illinois.
      1455 N Ashland Ave, Chicago, IL 60622
      View Details
    • Contact for pricing
      1,290 SF

      Turnkey Retail/Office Space Available

      1,290 SF retail/office space in a high-visibility location.
      2040 W Belmont Ave, Chicago, IL 60622
      View Details
    • Contact for pricing
      1,750 SF

      Contemporary Space in High-Visibility Location

      Versatile space suitable for office or retail use.
      2653-2659 W Division St, Chicago, IL 60622
      View Details
    • Contact for pricing
      1,872 SF

      Corner Retail Space Available

      Prime corner location with high foot traffic and modern storefront.
      1849-1859 W Avenue N, Chicago, IL 60622
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    629 N Ashland Ave
    Chicago, IL 60622
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    629 N Ashland Ave, Chicago, IL, 60622
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!