Flex Space with AAA
For Sale
Contact for pricing
611-613 N Union Ave, Chicago, IL 60654
Flex space totaling 58,590 SF, 52% leased to The Auto Club Group with 4.8 years remaining on the current lease term.
Property Size58,590 SF
Days on Market747
Property Features for 611-613 N Union Ave
General Information
Standard status
Active
Size
58,590 SF
Property subtype
INDUSTRIAL
Occupancy
52%
Listing Agency:
JLL | Dallas
(312) 300-7320
Listed By:
Kurt Sarbaugh · License #475144168
(312) 300-7320
Source:
Moodyscre
Added: Jul 15, 2024
Changed: Jul 30
Last Checked: Jul 30 at 1:22PM
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
Investment Insights
Based on property information with market context.
611-613 N Union Ave is a 58,590 SF flex/industrial property. The space is currently 52% leased to The Auto Club Group (“AAA”), with 4.8 years of lease term remaining. In-place rents are described as 64.2% below market, supported by management’s view that there may be room for mark-to-market income growth through leasing the remaining vacant space.
The property is positioned in Chicago near key business and population centers including Fulton Market District, River North, and the Loop. The offering notes adjacency to the Ohio feeder ramp with visibility and signage opportunities, citing 91,200 daily vehicles. The remarks also reference a Neighborhood Opportunity Bonus program for a future development opportunity with an air rights bonus.
Additional market context provided includes a 2010-to-present population growth figure of 156%+ and a stated 1-mile population of 91,991 with median household income over $120,000.
The property is positioned in Chicago near key business and population centers including Fulton Market District, River North, and the Loop. The offering notes adjacency to the Ohio feeder ramp with visibility and signage opportunities, citing 91,200 daily vehicles. The remarks also reference a Neighborhood Opportunity Bonus program for a future development opportunity with an air rights bonus.
Additional market context provided includes a 2010-to-present population growth figure of 156%+ and a stated 1-mile population of 91,991 with median household income over $120,000.
Key Highlights
- 58,590 SF flex/industrial property
- 52% leased to The Auto Club Group (“AAA”)
- 4.8 years of lease term remaining
Property Analytics
Current Use
Lease Details
52%
Occupancy
Location Intelligence
Trade Area within ½ mile
13,425
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60654, IL
23,890
Population
17,960
Households
1.3
Avg Household Size
34
Median Age
92%
College-Educated
99%
High-School Grad
0.5 sq mi
ZIP Area
47,780
Density / Sq Mi
$144,831
Median Household Income
$106,856
Median Earnings
$2,571
Median Rent
$495,900
Median Home Value
Market
Vacancy Rate% for Industrial in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space totaling 58,590 SF, 52% leased to The Auto Club Group with 4.8 years remaining on the current lease term.
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: 58,590 SF flex/industrial property; 52% leased to The Auto Club Group (“AAA”); 4.8 years of lease term remaining
