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Property profile & analytics
OFF-MARKET
Flex space

611-613 N Union Ave Chicago, IL 60654

58,590 SF
Property ID
US28-Q020128
Property summary
AI-generated overview

- Jones Lang LaSalle ("JLL"), the exclusive advisor to Ownership, has been retained to market the fee-simple interest in 611 N Union Ave (the "Offering" or the "Property") for sale, a 58,590 square foot, flex/ industrial Property located in Chicago. - 611 N Union Ave is 52% leased to The Auto Club Group, commonly known as "AAA," with 4.8 years of lease term remaining and in-place rents that are 64.2% below market, presenting investors with the opportunity for material net operating income (NOI) growth by marking in-place rents to market and leasing up the remaining vacant space. - The Offering also offers 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. - Additionally, the Property's infill location adjacent to the Ohio feeder ramp, with 91,200 daily vehicles, offers visibility and signage opportunities for future occupiers. - The Offering presents an exciting opportunity for investors to acquire a value-add industrial asset with significant mark-to-market upside and long-term development potential next door to the Fulton Market District the country's most sought-after submarket.

Property profile
Verified
Property type Flex space
Total area 58,590 SF
UPID US28-Q020128
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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