1813 S Ashland Ave, Chicago, IL, 60608

Highlights

• New Retail Lease in Place
• In-Unit Laundry
• Short Walk to CTA Pink Line
• Easy Access to I-55, I-290 & I-90/94
• Near UIC & Illinois Medical District
• Renovated Units
• Full Basement

Description

This fully renovated multifamily property presents a turn-key investment opportunity with 100% occupancy and strong in-place cash flow. The attractive brick building features modernized layouts with open floor plans, newly updated kitchens, and contemporary bathrooms, appealing to today’s renters seeking both style and functionality. The renovations enhance the property’s long-term durability while reducing near-term capital needs, offering investors peace of mind and stable operations from day one.

Adding to the upside, the property includes a vacant coach house located above the rear garage. This space is primed for renovation and conversion into an additional rental unit, providing a clear path for increased income and property value. With its blend of stabilized tenancy and future growth potential, this asset offers investors a rare opportunity to acquire a well-positioned property that combines immediate returns with long-term upside.

1813 S Ashland is just steps from the 18th Street retail district, which offers a wide range of local restaurants, coffee shops, art galleries, and neighborhood services, making it a walkable and highly desirable area for residents. The property benefits from strong pedestrian activity and a dynamic neighborhood character that continues to attract new investment and redevelopment.

Transportation access is excellent, with the CTA Pink Line 18th Street Station located within walking distance, providing direct service to downtown Chicago and connections across the CTA rail system. Multiple CTA bus routes also serve the area along Ashland Avenue and 18th Street. For drivers, the property offers convenient access to the Eisenhower (I-290), Stevenson (I-55), and Dan Ryan (I-90/94) Expressways, ensuring efficient connectivity to the entire Chicago metro area.

The location is also supported by nearby community amenities, including schools, medical centers, and recreational facilities, along with proximity to the University of Illinois at Chicago (UIC), the Illinois Medical District and Chicago Fire Practice Facility. Combined with strong local demand for housing and ongoing neighborhood revitalization.

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