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    526 Western Ave Chicago, IL 60612

    Sponsored
    For Sale
    $1,800,000

    Modernized 10,500 sq ft flex space in prime Chicago location.

    Property size:
    10,500 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    343
    This exceptional 10,500-square-foot flex building, completely renovated in 2024, presents a unique investment opportunity in Chicago's vibrant West Town neighborhood. Located on Western Avenue, this property boasts 8,220 square feet of ground-floor warehouse space, featuring a drive-in door (11'2"H x 9'W), 75 feet of street frontage, and abundant natural light. The second floor comprises approximately 2,280 square feet of adaptable space, perfect for offices or creative studios. The building's brick and heavy timber construction retains historic charm while incorporating contemporary upgrades, including a new TPO roof (2023), tuckpointing (2023), updated HVAC and distribution (2023), and cosmetic improvements to the second floor (2023). C1-2 zoning allows for significant redevelopment potential, including up to eight residential units with ground-floor commercial space. Its strategic location near the Western Metra Station qualifies it for Transit Oriented Development (TOD) incentives, enhancing its appeal. The property's proximity to downtown, major highways, and public transit ensures seamless connectivity. This versatile space is ideal for owner-users seeking a headquarters or investors looking for a high-potential redevelopment project in a thriving area. The asking price is $1,800,000.

    Property Features for 526 Western Ave

    General Information

    Property type
    Investment properties
    Square Feet
    10,500 SF

    Building Details

    Year Built
    1921
    Property Profile Location Intelligence

    Current Use by Public Records

    Rapid Circular Press ... Commercial Printer Pleasent Grove Baptist ... Baptist Church

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.68711
    Latitude
    41.89163

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    FAQs

    What type of property is this?
    Investment property - Modernized 10,500 sq ft flex space in prime Chicago location.
    Where is this investment property located?
    The property is located at 526 Western Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,800,000.
    (773) 482-1917
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    526 Western Ave Chicago, IL 60612
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