Goose Island Flex-Industrial
1040 N Halsted St, Chicago, IL 60642
Flex-industrial property in Chicago's Goose Island with strong tenant base.
Type:Industrial
Property size:
27,599 SFPrice / SF:
$240/SF- Added:
- Feb 9, 2026
- Days on Market:
- 96
- Last Refresh:
- Mar 17 at 1:15 pm
Property Features for 1040 N Halsted St
General Information
- Standard status
- Active
- Size
- 27,599 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1956
Listing agent Jason St. John License #IL 475142612
Listing office Greenstone Partners
Listing date Feb 9, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Greenstone Partners
HighLights
- Irreplaceable last‑mile flex‑industrial facility in a centralized location with unmatched connectivity to Chicago's most dynamic neighborhoods.
- Significant mark‑to‑market upside potential with Dog. Hotel | Daycare lease expiring 5/31/2029 and paying significantly below market rent.
- Located in the heart of Goose Island's revitalization, near major developments, driving future demand.
- Rare abundance of free street parking surrounding the site, a highly desirable amenity.
- Strong and stable tenant base with a weighted average lease tenure of 8.17 years, including reputable tenants.
- Strong leasing demand for infill flex‑industrial space, featuring seven dock doors and clear heights of 12’-14’, suitable for a variety of tenants.
Overview
This flex-industrial property is positioned in Goose Island, offering connectivity to Chicago’s dynamic neighborhoods. The location provides access to River North, River West, Lincoln Park, Wicker Park, Fulton Market, Bucktown, and West Town. The property is located near Onni Group’s Halsted Pointe development and Bally’s Chicago Casino. The Salt Shed, a mixed-use venue, is also nearby. Infrastructure improvements are underway, including the reconstruction of the Chicago Avenue Bridge. The property features hundreds of free street parking spaces and is within one mile of three major CTA stations. Two CTA bus lines offer north-south and east-west connections. Interstate 90/Kennedy is located 0.9 miles away. The property has a tenant base consisting of Hogsalt Hospitality, Greenstone Partners, and Dog. Hotel | Daycare, with an average lease tenure of 8.17 years. The property features seven dock doors and clear heights of 12’ to the beam and 14’ to the deck. Suite sizes range from 6,500 to 11,500 square feet. The property is positioned along Halsted Street with dock access via Haines and Hooker Streets. The property is suitable for e-commerce, logistics, and service-oriented tenants. The property has 27599 square feet of space.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$6.58M
NOI $592,164 @ 9.00% cap · cautious / downside scenario
Moderate
$8.46M
NOI $592,164 @ 7.00% cap · market / base-case scenario
Aggressive
$11.84M
NOI $592,164 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.06M | $38.40 |
| − Vacancy | −$270.2k | −$9.79 |
| EGI | $789.6k | $28.61 |
| − OpEx | −$197.4k | −$7.15 |
| NOI | $592.2k | $21.46 |
27,599 SF · lease $38.40/SF/yr · vacancy 25.50% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$8.46M
$7.40M – $9.87M
NOI $592,164 @ 7.0% cap · market cap 8.92%
Second Best
Retail
$5.45M
$4.77M – $6.36M
NOI $381,827 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$13.01M
$11.39M – $15.18M
NOI $910,899 @ 7.0% cap · market cap 13.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Tim Ross @ Ross ...
Loan Service
One Touch Building ...
Landscaping
Greenstone Partners
Real Estate Agency
Physician Real Estate ...
Real Estate Agency
Similar Places Nearby
- Bumbu Roux — 833 W Haines St, Chicago, IL 60642
- CMM Catering — Chicago, IL 60642
- Elite Personal Chefs — 859 W Erie St UNIT 806, Chicago, IL 60642
- Zullo's Corporate Catering — 1103 w grand ave, chicago, il 60642
- Katie O's Food Carnival — 820 N Orleans St, Chicago, IL 60610
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6482463
- Latitude
- 41.9013042
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FAQs
What type of property is this?
Flex space - Flex-industrial property in Chicago's Goose Island with strong tenant base.
Where is this flex space located?
The property is located at 1040 N Halsted St Chicago, IL.
What is the asking price?
The asking price for this property is $6,635,000.
What are key features of this property?
This property features: Irreplaceable last‑mile flex‑industrial facility in a centralized location with unmatched connectivity to Chicago's most dynamic neighborhoods.; Significant mark‑to‑market upside potential with Dog. Hotel | Daycare lease expiring 5/31/2029 and paying significantly below market rent.; Located in the heart of Goose Island's revitalization, near major developments, driving future demand.
