Description

Jones Lang LaSalle Americas (Illinois), L.P. (“JLL”) is pleased to present 2442 N Ashland Ave, aboutique four-home multifamily asset in Chicago’s DePaul neighborhood, at the desirableintersection of Ashland and Clybourn in Lincoln Park.

The property comprises two buildings on a 2,701 SF site: a three-story brick main buildingcontaining three 2-bed/1-bath homes of ±900 SF each, and a detached 2-bed/2-bath coach houseof ±920 SF. All four homes are two-bedroom layouts averaging ±905 SF, and the property is 100%occupied as of the 8/19/2026 rent roll.

Interiors feature hardwood flooring in living areas and bedrooms, individual gas-fired forced-airfurnaces with dedicated exterior condensers, and Amana appliance packages. Residents share abasement laundry room and attic storage. The front entrance faces N Ashland Ave and the rear ofthe site opens to an alley accessible off W Altgeld St.

The property sits in the supply-constrained North Lakefront submarket, where asking rents havegrown 5.0% year over year against a 3.2% Chicago metro average, with only ~700 units scheduledto deliver through 2027.

2442 N Ashland is being marketed on both a free & clear basis and with accretive assumablefinancing: 2.250% rate, $684,071 balance, 307 months term remaining, no prepayment penalty.

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Attributes

Year built

1954

Building area net

4,300 sf

Media

Investment highlights

Submarket Outperformance

North Lakefront asking rents average $2,254/mo with5.0% YoY rent growth, versus a 3.2% Chicago metro average
Only ~700 units scheduled to deliver through 2027 across a 97,913-unit submarket — structurally supply-constrained
Submarket vacancy of 3.6% with concessions at 1.27%,below the 1.6% Chicago average
Old Town, Gold Coast, Lincoln Park and Lakeview anchor premium pricing within the submarket

Well-priced for the Market

Subject average unit rent of $2,499 sits just below the eight-comparable set average of $2,619 per unit
In-place rent of $2,449 reflects a modest −2.0% loss-to-lease — well positioned relative to the competitive set
Rent-to-income of 16.0% against a $183,570 averagehousehold income within one mile leaves meaningful headroom
1.25× more affordable to rent here than to buy acomparable two-bedroom condo

Boutique, Low-Maintenance Asset

Fully occupied four-home building in an established DePaul / Lincoln Park pocket
Uniform all two-bedroom configuration averaging ±905SF simplifies leasing and turns
Three-story brick main building plus a detached coachhouse — two buildings, individually metered systems
Walk Score 91, Bike Score 90, Transit Score 68