611-613 N Union Ave Chicago, IL
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Value-add industrial asset with significant upside near Fulton Market District.
Type:INDUSTRIAL
Property size:
58,590 SFLot size:
1.05 Acres- Added:
- Jul 15, 2024
- Days on Market:
- 646
- Last Refresh:
- Apr 5 at 10:00 pm
Property Features for 611-613 N Union Ave
General Information
- Standard status
- Active
- Size
- 58,590 SF
- Lot size
- 1.05 Acres
- Property subtype
- INDUSTRIAL
Properties For Sale
at 611-613 N Union Ave Contact us
Listing agent Kurt Sarbaugh (312) 300-7320
Listing office JLL | Dallas (312) 300-7320
Listing date Jul 15, 2024
Source Moodyscre
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 JLL | Dallas
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
Similar Places Nearby
- 1st & Fresh Catering — 205 W Randolph St Ll1, Chicago, IL 60606
- Occasions Chicago — 116 N Willard Ct, Chicago, IL 60607
- FARE — 916 w fulton market, chicago, il 60607
- ChefMommys Kitchen llc — 159 N Sangamon St Suite 200, Chicago, IL 60607
- Luke's Lobster City Hall — 134 N La Salle St, Chicago, IL 60602
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6454
- Latitude
- 41.8929
Nearby Similar for Sale
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.
