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    1240 W Chicago Ave Chicago, IL 60642

    For Lease
    $22 SF/Yr ($17,600 /Mo)

    Ready-to-use office space in Chicago's West Town neighborhood.

    Property size:
    9,600 SF
    Lot size:
    0.39 Acres

    Property Features for 1240 W Chicago Ave

    General Information

    Size
    9,600 SF
    Lot size
    0.39 Acres

    Source: Baum Realty Agent Owen Wiesner

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Furnished Office Space in West Town

    This fully furnished, ready-to-use office space is suitable for startups, small businesses, and expanding companies. It is located at the Chicago / Ogden / Milwaukee intersection in Chicago’s West Town neighborhood. The versatile layout features an open floor plan with various configurations, including collaborative spaces and private offices. Large windows provide abundant natural light, creating a bright and welcoming environment. The well-maintained building offers secure access. The location provides an easy commute for a diverse, skilled workforce from surrounding neighborhoods, including the West Loop, Bucktown/Wicker Park, and River North. Quick access to I-90/94 provides connectivity to the rest of the city and suburbs. Major public transit lines, including the CTA Chicago Blue Line ‘L’ station and multiple bus routes, are steps away. An on-site parking lot and ample street parking are available in the area. The property has a size of 9600 square feet and is available for rent at $22.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6538963
    Latitude
    41.8966298

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    FAQs

    What type of property is this?
    Office space - Ready-to-use office space in Chicago's West Town neighborhood.
    Where is this office space located?
    The property is located at 1240 W Chicago Ave Chicago, IL.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: - Prime location in Chicago's West Town neighborhood at the Chicago / Ogden / Milwaukee intersection.; - Fully furnished, ready-to-use office space.; - Easy access to public transportation: CTA Blue Line and multiple bus routes.
    (312) 666-3000
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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
    1240 W Chicago Ave Chicago, IL 60642
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