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    611-613 N Union Ave Chicago, IL 60654

    For Sale
    Contact for pricing

    Value-add industrial asset with significant upside near Fulton Market District.

    Property size:
    58,590 SF
    Lot size:
    1.05 Acres

    Property Features for 611-613 N Union Ave

    General Information

    Size
    58,590 SF
    Lot size
    1.05 Acres

    Source: JLL | Dallas Agent Kurt Sarbaugh

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

    Overview

    Chicago Flex/Industrial Property For Sale

    The property at 611 N Union Ave is a 58,590 square foot flex/industrial property located in Chicago. The property is 52% leased to The Auto Club Group, commonly known as "AAA," with 4.8 years of lease term remaining. The in-place rents are 64.2% below market, presenting investors with the opportunity for net operating income (NOI) growth by marking in-place rents to market and leasing up the remaining vacant space. The offering also presents a future development opportunity with an air rights bonus via utilization of the Neighborhood Opportunity Bonus program. The property is situated adjacent to Chicago's vital business and population centers including Fulton Market District, River North, and the Loop, and has experienced 156%+ population growth since 2010. The property benefits from a population of 91,991 and a median household income over $120,000 within 1-mile. The property's infill location adjacent to the Ohio feeder ramp, with 91,200 daily vehicles, offers visibility and signage opportunities.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Realty agency Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop Pharmacy

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

    Similar Places Nearby

    1st & Fresh Catering, Occasions Chicago, FARE, ChefMommys Kitchen llc, Luke's Lobster City Hall

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6454149
    Latitude
    41.8929013

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    FAQs

    What type of property is this?
    Flex space - Value-add industrial asset with significant upside near Fulton Market District.
    Where is this flex space located?
    The property is located at 611-613 N Union Ave Chicago, IL.
    What are key features of this property?
    This property features: - Significant mark-to-market upside potential with in-place rents 64.2% below market value.; - Located adjacent to the highly desirable Fulton Market District.; - Future development opportunity with air rights bonus via the Neighborhood Opportunity Bonus program.
    (312) 300-7320
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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
    611-613 N Union Ave Chicago, IL 60654
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