2024 S Ashland Ave

Highlights:

• Prime Lighted Corner
• Large Outdoor Deck
• Full Basement
• 2 Car Garage
• Large Floor Plans
• Additional Income from Signage

Description:

This large corner brick three-unit mixed-use building sits prominently at the lighted intersection of Ashland Avenue and 21st Street, offering a prime retail space that has remained consistently leased thanks to its unbeatable visibility and high-traffic location. The property includes a full basement and exterior signage with excellent exposure at the stoplight, presenting the potential for additional advertising income. Longtime ownership and first-time availability since the early 1960s make this a rare opportunity to acquire a well-positioned asset in an established neighborhood.

The two residential apartments above the retail storefront offer spacious layouts filled with natural light and feature large floor plans, providing immediate rental income with the option to further maximize returns through updates and modern finishes. Residents can enjoy a generous outdoor deck ideal for entertaining, along with the convenience of a two-car garage in the rear for extra income potential. With strong fundamentals, untapped upside, and a proven rental history, this property is an excellent investment for both owner-occupiers and value-add investors alike.

Situated at the lighted intersection of Ashland Avenue and 21st Street, this property benefits from exceptional exposure and consistent foot and vehicle traffic, making it a prime location for both retail and residential tenants. The area is well-served by public transportation with convenient access to the CTA Pink Line, major bus routes, and nearby expressways, offering easy connections to surrounding neighborhoods and downtown Chicago. Local amenities abound, with a mix of restaurants, neighborhood shops, and everyday conveniences all within walking distance, adding to the appeal for future tenants and customers alike.

This corner of Chicago’s Lower West Side is experiencing steady revitalization, attracting new businesses and residents while maintaining its long-standing neighborhood character. Proximity to the vibrant Pilsen neighborhood means tenants are just minutes from galleries, cafes, parks, and cultural destinations that continue to draw interest citywide. The highly visible corner signage, combined with the property’s strong location fundamentals, ensures continued demand and underscores the potential for long-term value growth in this dynamic urban setting.

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