Industrial Flex Space with
For Sale
$490,000
5245 W Diversey Avenue, Chicago, IL 60639
COMMERCIAL - Chicago, IL
Property Size6,250 SF
Lot Size0.14 Acres
Price / SF$78.40
Days on Market351
Property Features for 5245 W Diversey Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
West on Diversey from Cicero Ave to property
Subdivision
CHI - Belmont Cragin
Standard status
Active
APN
13283030050000
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
11427
Utilities
Utilities
Natural Gas Available
Cooling system
Central Air
Building Details
Year built
1955
Floors in Building
1
Building materials
Brick
Roof type
Membrane
Listing Agency:
Jameson Sotheby's Intl Realty
(312) 751-0300
Listed By:
Jason Hiller · License #475158547
(312) 335-3291
Added: Aug 14, 2025
Changed: Jun 3
Last Checked: Jul 30 at 4:06PM
MLS# 12446773
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.
Investment Insights
Based on property information with market context.
This industrial/flex building was constructed in 1955 and presents an adaptable layout designed for multiple business needs. The property features 16' bow truss ceilings in excellent condition, supporting open, functional operations. Importantly, the space is described as divisible, offering flexibility for an operator or investor seeking to configure the building to match demand. A fully equipped woodshop is included on-site, with woodshop equipment, tools, and supplies available for purchase, which can reduce setup time for qualifying users.
Located at 5245 W Diversey Avenue in Chicago (60639), the property is positioned as an infill option within the city for industrial and flex-related uses. The zoning is listed as COMMR, aligning the asset with a commercial district framework. With a lot size of 0.1435 acres, the site supports a compact footprint for an industrial/flex strategy in a mature urban setting.
For buyers and tenants, the combination of ceiling height, divisibility, and an established woodshop makes this building a strong fit for light industrial, fabrication-oriented businesses, and other operators that benefit from flexible space planning. Investors may also find appeal in the ability to tailor the interior configuration, backed by the on-site improvements and the option to acquire the woodshop assets.
Located at 5245 W Diversey Avenue in Chicago (60639), the property is positioned as an infill option within the city for industrial and flex-related uses. The zoning is listed as COMMR, aligning the asset with a commercial district framework. With a lot size of 0.1435 acres, the site supports a compact footprint for an industrial/flex strategy in a mature urban setting.
For buyers and tenants, the combination of ceiling height, divisibility, and an established woodshop makes this building a strong fit for light industrial, fabrication-oriented businesses, and other operators that benefit from flexible space planning. Investors may also find appeal in the ability to tailor the interior configuration, backed by the on-site improvements and the option to acquire the woodshop assets.
Key Highlights
- 6,250 SF industrial/flex space in Chicago.
- Divisible space adaptable to various business needs.
- Enjoy the 16' bow truss ceilings in excellent condition.**
Financial Insights For Industrial
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 | $40.5k | $6.48 |
| − Vacancy | −$5.6k | −$0.89 |
| EGI | $34.9k | $5.59 |
| − OpEx | −$10.5k | −$1.68 |
| NOI | $24.4k | $3.91 |
6,250 SF · lease $6.48/SF/yr · vacancy 13.80% · expense 30.00%
Alternative Uses
Best Use
Flex RnD
$1.08M
$949.1K – $1.27M
NOI $75,928 @ 7.0% cap · market cap 15.50%
Second Best
Industrial
$349.1K
$305.5K – $407.3K
NOI $24,438 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$2.76M
$2.42M – $3.22M
NOI $193,440 @ 7.0% cap · market cap 39.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,071
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60639, IL
89,543
Population
28,656
Households
3.1
Avg Household Size
34
Median Age
15%
College-Educated
69%
High-School Grad
5.0 sq mi
ZIP Area
17,909
Density / Sq Mi
$59,710
Median Household Income
$34,846
Median Earnings
$1,212
Median Rent
$289,000
Median Home Value
Market
Vacancy Rate% for Industrial in Chicago, IL
Questions? Ask Rey
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Similar Off Market Nearby
- Alltimate Catering — 3051 N Cicero Ave, Chicago, IL 60641
Frequently Asked Questions
What type of property is this?
Flex space - Versatile industrial/flex building with high bow-truss ceilings and an on-site woodshop, offered with divisibility potential.
Where is this flex space located?
The property is located at 5245 W Diversey Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 6,250 SF industrial/flex space in Chicago.; Divisible space adaptable to various business needs.; Enjoy the 16' bow truss ceilings in excellent condition.**
