4748 S Ashland Avenue
Chicago, IL 60609

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Description

Introducing a prime income producing investment opportunity plus tremendous development potential in the Back of the Yards neighborhood at 4748 South Ashland Avenue - spread over 5 CITY LOTS - 124 FT of frontage on Ashland Ave & on the corner of 48th Street. This 10,984 SF, 2-story building offers a spacious & versatile layout on the 1st floor with a long-term daycare tenant + a 5,450 SF vacant, ready to build out second floor ideal for offices, medical, apartments, gym or other uses, + three vacant lots for new construction retail, parking or both. This property presents a compelling opportunity for investors seeking a strategic addition to their portfolio with huge upside development potential. With its prime location & ample space, this property is prepped to meet the demands of modern businesses. Take advantage of this rare chance to secure a valuable asset in a thriving commercial real estate market. The building was gut rehabbed from a shell & in superb condition, with all modern mechanicals. Excellent visibility & accessibility with a high walk score of 85/100. City Reinvestment Opportunity, "INVEST South/West" corridor. Potential for customization & value add potential to suit specific business needs. Ample off street parking potential for employees & visitors. Proximity to critical amenities & transportation options. -Strong potential for rental income growth &/or an owner operator. Unlimited potential offers huge development opportunity, leading to value appreciation in an upcoming neighborhood. Sellers are retiring & are pricing this to sell & way below their cost.

Features

• Property Type: Commercial
• Sub Type: Mixed Use
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60609
• Year Built: 1912
• Sq.Ft.: 10,984 sq ft
• Stories: 2
• Units: 2 units
• Zoning: RTAIL
• # Of Stores: 1
• # Of Tenants: 1
• Approximate Age: Older
• Building Area Total: 10984
• Built Before 1978 (Y/N): Yes
• Cap Rate: 6.6
• Construction Materials: Brick, Concrete, Stone, Stucco
• Cooling: Central Air
• Directions: On Ashland Avenue, Located at the corner of 48th Street and South Ashland Avenue.
• Electric: Circuit Breakers, Separate Meters
• Electric Expense: 371
• Electric Expense Source: Actual
• Expense Year: 2025
• Fire Protection: Alarm Monitored, Fire Extinguisher/s
• Flooring: Tile
• Foundation Details: Concrete Perimeter
• Fuel Expense Source: Actual
• Geographic Locale: Chicago South
• Gross Income: 85379
• Gross Rent Multiplier: 8.02
• Gross Scheduled Income: 86452
• Heat/Ventilation: Forced Air
• Information: List Broker Must Accompany, 48-Hr Notice Required
• Insurance Expense: 11192
• Insurance Expense Source: Actual
• Lot Size Square Feet: 13718
• Main Type: Commercial Sale
• Office SqFt: 5492
• Operating Expense: 41330
• Original Rental Price: 17.07
• Other Expense: 1000
• Other Expense Source: Actual
• Outdoor Parking: 13-18 Spaces
• Rental Price: 17.07
• Retail SqFt: 5492
• Roof: Membrane
• Roof Structure: Flat
• Tax Annual Amount: 27692.57
• Tax Year: 2024
• Tenant Pays: Electricity, Heat, Insurance, Repairs, Scavenger, Sewer, Other
• Total Actual Rent: 7114
• Total Annual Expense Source: Actual
• Total Monthly Income: 7114
• Township: Lake
• Trash Expense Source: Actual
• Utilities: Electric to Site, Natural Gas Available, Water Available
• Water Expense Source: Actual
• Water Sewer Expense: 1074