I believe the concept of ICS is to make the Mac an ad-hoc "Router". So, the WiFi port on the Mac gets a network address from the WiFi Router (or Access Point), and creates a "Private" network for anything that connects to the LAN port. So, if WiFi is on 192.168.0.x, the LAN ports might get 172.x.x.x addresses. Apple does all of this under the hood to make it "Just Work" without requiring tinkering. But, the Mac was never intended to be a Network appliance. Since the Mac is acting as a NAT device for everything connected to the LAN port, even static IP will not be visible to hosts on the other side of the Mac due to NAT blocking inbound traffic.
If what you are trying to do is create a more permanent bridge to another part of your home, maybe something like an Airport Express might be in order? With APExpress, it can connect to your network via 2.4 or 5Ghz 802.11n WiFi (or Ethernet), and the 100Mbps LAN port can be connected to a hub\switch to share the LAN port with more devices. If you decide to go this route, the APExpress can be setup as a "Client" on your WiFi (ie, it joins the WiFi, but doesn't provide another WiFi access point for wireless devices). Cost: ~$50 for used AP Express on eBay, $99 new on Apple.com.
If speed is an issue, something like APExtreme with 1Gbps LAN, and 802.11ac WiFi would be in order. Cost: ~$75-100 used on eBay, $199 on Apple.com.
If you are not big on Airport lines, there are plenty of WiFi routers and Access Points in the market, many WiFi routers can be configured as an Access Point to create a WiFi to Ethernet Bridge. Prices will vary greatly.
If it is possible to run Ethernet to the location, that would be the best bet, but if Ethernet cabling is impractical to reach this remote location, perhaps a Powerline or MOCA ethernet adapter would do the job. Newer Powerline adapters can reach speeds approaching 1Gbps between the remote location and router using your power lines to transmit the data. MOCA can similarly do this with in home Coax cables, and it too can reach 1Gbps speeds. If you go this route, don't go with cheap, older generation adapters, the first few iterations of these adapters were pretty slow by comparison. Cost: $75-150 give or take. Examples:
Powerline MOCA