Chicago Cold Storage
1556 W 43rd St Chicago, IL 60609
1556 W 43rd St, Chicago, IL, 60609
$35,000,000
For Sale
$35,000,000
224,878 SF cold storage facility in Chicago Stockyards.
Property Size224,878 SF
Lot Size6.81 Acres
Price / SF$155.64
Days on Market137
Property Features for 1556 W 43rd St
General Information
- Standard status
- Active
- Size
- 224,878 SF
- Lot size
- 6.81 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1973
Listing agency
NAI Hiffman
(708) 539-6398
Listed by
John Basile · License #475166355
(708) 539-6398
Source
Naiglobal
Added: Mar 6 Updated: Jul 6 at 10:28AM Checked: Jul 21 at 8:19AM
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 NAI Hiffman
Investment Insights
Based on property information with market context.
Located in the Chicago Stockyards, this cold storage facility offers approximately 224,878 square feet of space and is available for both lease and sale, with the possibility of demising. The site spans 6.81 acres and includes 11,287 square feet of office space and 192,942 square feet of freezer/cooler space. It features 18 exterior docks, ceiling heights of 24 and 33 feet, and parking for 53 cars and 17 trailers. Zoned PMD 8 with 6B approval, the property is ideally situated with close proximity to I-55, I-90, and the Chicago Business District. The facility is equipped with a 40,000 lbs Ammonia System, glycol floors in all freezers and a convertible cooler, and floor drains in USDA and Tempering Rooms. The main condenser was replaced in 2024. Multiple temperature configurations are possible, including deep freeze capabilities down to -25 degrees. Significant upgrades are scheduled for completion in 2025. The property also includes significant employee wellness infrastructure.
Key Highlights
- Large Cold Storage Facility: Boasting +/- 224,878 SF of freezer/cooler space (192,942 SF).
- Prime Location: Situated in the heart of the Chicago Stockyards PMD, with convenient access to I‑55, I‑90, and the Chicago Business District.
- Flexible Options: Available for lease or sale, and the space can be demised to suit your needs.
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $2.12M | $9.43 |
| − Vacancy | −$116.6k | −$0.52 |
| EGI | $2.00M | $8.91 |
| − OpEx | −$300.6k | −$1.34 |
| NOI | $1.70M | $7.57 |
224,878 SF · lease $9.43/SF/yr · vacancy 5.50% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$24.33M
$21.29M – $28.39M
NOI $1,703,372 @ 7.0% cap · market cap 4.87%
Second Best
Industrial
$20.15M
$17.63M – $23.50M
NOI $1,410,199 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$106.03M
$92.78M – $123.70M
NOI $7,422,053 @ 7.0% cap · market cap 21.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Artico Cold Storage
Storage Facility
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FAQs
What type of property is this?
Warehouse - 224,878 SF cold storage facility in Chicago Stockyards.
Where is this warehouse located?
The property is located at 1556 W 43rd St Chicago, IL.
What is the asking price?
The asking price for this property is $35,000,000.
What are key features of this property?
This property features: Large Cold Storage Facility: Boasting +/- 224,878 SF of freezer/cooler space (192,942 SF).; Prime Location: Situated in the heart of the Chicago Stockyards PMD, with convenient access to I‑55, I‑90, and the Chicago Business District.; Flexible Options: Available for lease or sale, and the space can be demised to suit your needs.
