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    401-407 N Leavitt St Chicago, IL 60612

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    For Sale
    $3,000,000

    39,300 SF brick and timber building on 39,000 SF lot.

    Property size:
    39,300 SF
    Lot size:
    0.42 Acres

    Property Features for 401-407 N Leavitt St

    General Information

    Size
    39,300 SF
    Lot size
    0.42 Acres

    Source: Cawley Chicago Agent Zach Pruitt

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

    Overview

    Adaptive Reuse Opportunity in Chicago

    The property at 401 N Leavitt St, Chicago, IL, presents an adaptive reuse and redevelopment opportunity. This 39,300 square foot brick and timber building is situated on a 39,000 square foot corner lot, featuring setbacks on three sides. The building offers a cohesive plan suitable for single-use or multi-tenant configurations. The exposed brick and timber, barrel truss, and lofted ceilings cater to the aesthetic preferences of creative, maker, and innovator tenants. Centralized interior loading, along with two exterior loading docks, allows for individualized or shared access to loading. Sixty enclosed glass-block window frames provide ample natural light, complemented by 360-degree views from the second floor. The property includes 11,861 square feet of surface lot area, offering parking capabilities. Three tiers of east-facing, level roof line offer roof deck or increased footprint capabilities.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Similar Places Nearby

    Katr2U, Neal's Gourmet Catering, Entertaining Company, Butter and Vine, The Flora Fare

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6813567
    Latitude
    41.8888506

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    FAQs

    What type of property is this?
    Flex space - 39,300 SF brick and timber building on 39,000 SF lot.
    Where is this flex space located?
    The property is located at 401-407 N Leavitt St Chicago, IL.
    What is the asking price?
    The asking price for this property is $3,000,000.
    What are key features of this property?
    This property features: - 39,300 Sq. Ft. brick and timber building on a 39,000 Sq. Ft. corner lot.; - Adaptive reuse and redevelopment opportunity.; - **Exposed brick & timber, barrel truss, and lofted ceilings.**
    (312) 766-4291
    Request Owner's contact information
    401-407 N Leavitt St Chicago, IL 60612
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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
    401-407 N Leavitt St Chicago, IL 60612
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