Property Overview

1054-1056 N. Ashland Ave. is comprised of 2 adjacent buildings in the West Town neighborhood of Chicago, IL. 1054 N. Ashland consists of a nail salon and (2) 4Bdr/2Ba apartment units. 1056 N. Ashland includes a jewelry store, (1) 3Bdr/1Ba and (4) 2Bdr/1Ba units.

The buildings feature new windows installed summer of 2016, 10+ year old roofs, and a mix of copper and galvanized plumbing. Additionally, the are 4 garage spaces behind the buildings. The 2 garage spaces for 1054 N. Ashland are being used by the nail salon as part of their lease. The 2 garage spaces for 1056 N. Ashland are available but not currently rented. Both interior retail spaces have been fully remodeled including HVAC, electric and plumbing.

The units were renovated to condo quality in the summer of 2016 and include hardwood/laminate floors, granite countertops, new cabinets, subway tiled backsplash, stainless steel appliances, tiled kitchen floors, individual furnaces with AC, in-unit hot water tanks, in-unit laundry and 100 electrical amps per unit.

The property is walking distance to the Division ‘L’ Station, a short drive to the Kennedy Expressway and near several restaurants, bars and shops.

Highlights

  • 2 Adjacent Buildings; 9 Total Units in West Town
  • Walking Distance to the Division ‘L’ Station

Key Details

Asking Price
$2,600,000
Number of Units
9
Lot Size
5,550 SF
Building Size
10,959 SF
Year Built
1901
Pro-Forma Cap Rate
7.24%