For Sale
$8,850,000

4343 Ashland AveChicago, IL 60609

Prime location, high ROI potential

Overview

Added:
Dec 11, 2024
Days on market:
119
This exceptional Class A self-storage conversion in Chicago's Back of the Yards neighborhood presents a compelling value-add investment opportunity. The three-story, 62,922 square foot building, renovated in 2025, offers 44,696 rentable square feet across 533 climate-controlled units ranging from 5x5 to 10x30. Situated on a 0.54-acre lot on South Ashland Avenue (26,900 AADT), this property boasts commanding visibility and convenient access. The building features a multi-bay covered loading area, a centrally located elevator, 24-hour video surveillance, coded access, and LED lighting. With a low market saturation of 3.92 square feet per capita (2.67 climate-controlled), and a strong demographic profile (851,543 population within 5 miles, 62% renter-occupied), this asset is poised for significant growth. The asking price of $8,850,000 represents $198 per square foot and projects a stabilized 7.25% cap rate by Year 2. Built in 1903, this property offers a blend of historic charm and modern amenities, making it an ideal investment for discerning buyers seeking strong returns in a thriving market.

Highlights

  • 7.25% cap rate achievable in Year 2.
  • Low market saturation: 3.92 SF/capita total, 2.67 SF/capita climate-controlled.
  • Strong demographics: 851,543 population within 5 miles, 62% renter-occupied (235,105 units).
  • Convenient design: Multi-bay covered loading area, central elevator.
  • High visibility: Located on South Ashland Avenue (26,900 AADT).

Property Details for 4343 Ashland Ave

Property type
Self storage facilities
Square Feet
62,922 SF
Class
A
Year Built/Renovated
1903/2025
Stories
3
Lot Size (sq. ft)
23,522 SF
Units
533

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.814047332266
Longitude
-87.665051142179
4343 Ashland Ave, Chicago, Illinois

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4343 Ashland Ave
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