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$1,110,000
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Property Description
Turnkey Investment Opportunity - Fully Rented Mixed-Use Building at 8244-8248 S Ashland Ave! Step into the world of effortless income generation with this meticulously maintained mixed-use property in the heart of Chicago's bustling Auburn Gresham neighborhood. Perfectly situated with excellent visibility and foot traffic, this cash-generating gem is fully rented and ready for its next visionary owner. Features: 8 spacious 1-bedroom apartments and 4 comfortable 2-bedroom apartments, all fully occupied by long-term tenants. 3 commercial spaces, including a thriving dental practice, anchoring the building with steady, reliable income. Strategically located on high-traffic Ashland Ave, ensuring visibility and accessibility for businesses and residents alike. Owners are ready to pass the torch, presenting a rare opportunity for investors seeking a stable, income-producing asset. This property has it all: location, stability, and cash flow! Whether you're an experienced investor or just breaking into the market, this is a portfolio-worthy addition that delivers immediate returns. Don't miss out-schedule your showing today and secure your place in Chicago's growing real estate market
Full Property Details
Full Property Details for 8244 S Ashland Ave
General
- Sold For: $1,110,000
- Taxes: $22,718 (2023)
- Status: Closed
- Type: Commercial
- Source: MRED
- MLS ID: 12273369
- Added to Site: 365 day(s) ago
Additional Information
- Security/Safety: Fire Extinguisher(s), Hydrants on Site
Location
- Area: CHI - Auburn Gresham
- County: Cook
- Driving Directions: South on Ashland to 8244
- Location Details: Chicago South, Mixed-Use Area
Heating & Cooling
- Cooling Type: Window Unit(s)
- Heating Type: Radiators
Utilities
- Water: Municipal Water
- Onsite: Electricity Available, Natural Gas Available, Sewer Connected
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Stories/Levels: 3
- Square Feet: 17,890
- Year Built: 1963
- Built Before 1978: Yes
Unit Information
- # Tenants: 15
- Units w/Refrigerators: 12
- Units w/Range/Oven: 12
- # Dryers: 6
Lot Features
- Lot Size (Sq. Ft.): 10,000
- Lot Dimensions: 117 x 60
- Frontage: City Street
- Zoning: COMMR
Financial Considerations
- Lease Price: $22
- Operating Expenses: $62,056
- Security Deposit: Fire Extinguisher/s, Hydrants On Site
- Assessment Year: 1963
- Tax Amount: $22,718
- Tax Year: 2023
- Tenant Pays: Electricity, Taxes, Repairs
Disclosures and Reports
- Property ID: 20312310410000
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Schools
Schools serving 8244 S Ashland Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Joplin Elementary School 7931 South Honore Street, Chicago, IL 60620 | K-8 | 0.5 mi |
Hirsch Metropolitan High School 7740 South Ingleside Avenue, Chicago, IL 60619 | 9-12 | 3.3 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 8244 S Ashland Ave
Date
Details
Price
Change
Source
7/22/2025
Sold
$1,110,000
-11.2%
MLS
1/18/2025
Listed
$1,250,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
8244-8248 S Ashland Avenue, Chicago, IL 60620 (MLS# 12273369) is a Commercial property that was sold at $1,110,000 on July 22, 2025. This property was listed by SpaceMatch Inc. from our Gold Coast Office.Want to learn more about 8244-8248 S Ashland Avenue? Do you have questions about finding other Commercial real estate for sale in Auburn Gresham? You can browse all Auburn Gresham real estate or contact a Coldwell Banker agent to request more information.


