242 N Western Avenue, Chicago, IL 60612
- Added:
- Jun 9, 2026
- Days on Market:
- 19
- Last Refresh:
- Jun 27 at 6:06 pm
Property Features for 242 N Western Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- PMD
- Standard status
- Active
- APN
- 16124140870000
- Lot size
- 0.18 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 38211
Utilities
- Cooling system
- Central Air, Zoned
Building Details
- Year built
- 1969
- Floors in Building
- 2
- Number of units
- 1
- Flooring type
- Concrete
- Building materials
- Brick
Listing agent Michael Hulett License #475111996 (312) 335-3291
Listing office Jameson Sotheby's Intl Realty 425 W. North Ave. suite 1, Chicago, IL (312) 751-0300
Listing date Jun 9, 2026
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 8700 SF flex warehouse/office built in 1969 with brick exterior and concrete flooring
- Main floor: 17‑ft ceilings, largely open‑span 6400 SF warehouse with 2 loading docks (13'6" and 10'6")
- Main floor office amenities include a large private office, open workstations, kitchenette, storage rooms, and 2 baths
- Second‑floor workspace has polished concrete floors, custom bar and kitchen, full bath with shower, and large storage room
- Zoned PMD4 with central air plus zoned cooling; full heat and AC throughout; high R‑value spray foam insulation
- EV charging station, parking lot with snow‑melt lines, and electrical service includes 480A/3‑phase plus an additional 220A
Overview
Located at 242 N Western Avenue in Chicago, the building offers high traffic exposure on Western Avenue. Zoning is PMD4, and the property includes spray foam insulation throughout, a parking lot with snow-melt lines in place, and an EV charging station.
Utilities and building systems support year-round operations with full heat and AC throughout. Power includes 480A/3-phase plus an additional 220-amp service. With its combination of loading capability, warehouse volume, and conditioned office/work areas, the property is suited for businesses that need both distribution space and a ready-to-use workspace within the same facility.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $334.1k | $38.40 |
| − Vacancy | −$85.2k | −$9.79 |
| EGI | $248.9k | $28.61 |
| − OpEx | −$62.2k | −$7.15 |
| NOI | $186.7k | $21.46 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Katr2U — 324 N Leavitt St, Chicago, IL 60612
- Neal's Gourmet Catering — 324 N Leavitt St, Chicago, IL 60612
- Mac Dynamite — 324 N Leavitt St, Chicago, IL 60612
- Rowan Catering — 324 N Leavitt St, Chicago, IL 60612
- The Flora Fare — 324 N Leavitt St, Chicago, IL 60612
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6869481
- Latitude
- 41.8859062
