4748 Ashland AveChicago, IL 60609

Property Details for 4748 Ashland Ave

Year built

1895

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.10 AC

Property size (Sq ft)

2,626 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

14-18-205-017

APU

1418205017

Description

This exceptional mixed-use property, located at 4748 S. Ashland Ave in Chicago, IL, presents a compelling investment opportunity. The 10,984 square foot building, constructed in 1912 and renovated in 2019, features two stories and is currently 50% occupied by Kreative Kids Academy. The net rentable area totals 5,492 square feet, with a current asking price of $695,000, representing a price per square foot of $63.27 and a 7.19% cap rate. The property boasts a strong net operating income (NOI) of $49,989. The building sits on a 13,719 square foot lot (APN: 20072070600000) and is zoned 7-92, offering versatility for various uses. The property includes two units and benefits from ample parking. Its prime location in the Back of the Yards neighborhood provides excellent visibility and accessibility, making it an ideal investment for those seeking strong rental income or owner-occupation. The property's recent renovations and well-maintained condition further enhance its appeal. This is a rare chance to acquire a valuable asset in a thriving commercial real estate market with significant potential for value appreciation and customization to suit specific business needs. The property's location offers proximity to critical amenities and transportation options.

• CAP approach

  CAP return

  Valuation

  6%

  $980,182

  6.5%

  $904,783

  7%

  $840,156

• Comparable approach

  Method

  Valuation

  Relative Method

  $530,157

  Geo Method

  $530,157

• Alternative Use

  Use

  Valuation

  Residential

  $904,783

  Hospitality

  $828,777

  Educational

  $689,532

  Medical

  $713,247

  Retail

  $1,072,606

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9685

Longitude

-87.6699

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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