Chicago Warehouse/Flex/Office Building For
For Sale
Contact for pricing
1674 N Ada St, Chicago, IL
Two-story warehouse/flex/office building with loading docks and parking.
Property Size14,748 SF
Lot Size0.26 Acres
Price / SF$166.12
Days on Market366
Property Features for 1674 N Ada St
General Information
Standard status
Active
Size
14,748 SF
Lot size
0.26 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Baum Realty
(630) 488-8697
Listed By:
Brayden Schiff
(630) 488-8697
Source:
Moodyscre
Added: Aug 22, 2025
Changed: Aug 8
Last Checked: Aug 21 at 6:17AM
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 Baum Realty
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$170,251
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $316,433 @ 7.0% cap · market cap 12.92%
Second Best
Flex RnD
$2.43M
$2.13M – $2.84M
NOI $170,251 @ 7.0% cap · market cap 6.95%
Theoretical Best
Office A
$6.95M
$6.08M – $8.11M
NOI $486,755 @ 7.0% cap · market cap 19.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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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.
