Listing Agency: Baum Realty Show Phone

Listed By: Brayden Schiff · License #475199370 Show Phone

Source: Moodyscre

Added: Aug 22, 2025 Changed: Sep 8 Last Checked: Oct 5 at 5:34PM

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Investment Insights

Based on property information with market context.

The property located at 1674 N. Ada St. in Chicago, IL, is a two-story building suited for warehouse, flex, and office use. The building has a total area of 14,748 square feet and sits on a 0.27-acre lot (11,558 Sq.Ft.). The ground floor spans 10,134 square feet, while the second floor provides 4,613 square feet of space. The property includes a parking lot of 1,424 square feet with four lined spots. It features 78 feet of frontage on N. Ada St. Loading is facilitated by one drive-in door (14’W x 16’ H), one double-wide at-grade door, and one dock-height door. Clear heights range from 13 to 20 feet (underside of beams). The building is equipped with 1,200 Amps / 3 Phase power. Zoned M3-3, the property's 2023 property taxes, payable in 2024, amounted to $57,815.35, or $3.92 per square foot. The parcel ID number is 14-32-316-034-0000. The property is located in Ward 32, under Alderman Scott Waguespack.

Key Highlights

• 14,748 Sq.Ft. total building area suitable for warehouse, flex, or office use.
• M3‑3 zoning allows for a wide range of industrial and commercial uses.
• Multiple loading options: one drive‑in door (14’W x 16’ H), one double‑wide at‑grade door, and one dock‑height door.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$170,251

Cap Rate

6.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,405,020 $3.4M

Cap Rate 7%

$2,432,157 $2.4M

Cap Rate 9%

$1,891,678 $1.9M

Market Conditions

NOI Build-Up for 14,748 SF

Gross rent

$283.2K $19.20/SF

− Vacancy

−$21.2K −$1.44/SF

EGI

$261.9K $17.76/SF

− OpEx

−$91.7K −$6.22/SF

NOI

$170.3K $11.54/SF

Area

Chicago, IL

Vacancy

7.50%

Lease Rate

$19.20 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,405,020

Cap Rate 7%

$2,432,157

Cap Rate 9%

$1,891,678

Alternative Uses

Best Use

Office B

$4.52M

$3.96M – $5.27M (±1% cap)

NOI $316,433 @ 7.0% cap · market cap 12.92%

Second Best

Flex RnD

$2.43M

$2.13M – $2.84M (±1% cap)

NOI $170,251 @ 7.0% cap · market cap 6.95%

Theoretical Best

Office A

$6.95M

$6.08M – $8.11M (±1% cap)

NOI $486,755 @ 7.0% cap · market cap 19.87%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Auto Parts Store Auto Repair Shop Garden Center HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,557

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Office in Chicago, IL

17.9% 2019

19.2% 2020

20.7% 2021

23.1% 2022

23.3% 2023

25.1% 2024

25.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Warehouse - Two-story warehouse/flex/office building with loading docks and parking.

Where is this warehouse located?

The property is located at 1674 N Ada St Chicago, IL.

What is the asking price?

The asking price for this property is $2,450,000.

What are key features of this property?

This property features: 14,748 Sq.Ft. total building area suitable for warehouse, flex, or office use.; M3‑3 zoning allows for a wide range of industrial and commercial uses.; Multiple loading options: one drive‑in door (14’W x 16’ H), one double‑wide at‑grade door, and one dock‑height door.