Recently Renovated Warehouse and
For Sale
Contact for pricing
2135 W Carroll Ave, Chicago, IL 60612
Recently renovated warehouse and office space with a roof solar plant, natural light, and air conditioning.
Property Size23,900 SF
Price / SF$230.13
Days on Market573
Property Features for 2135 W Carroll Ave
General Information
Standard status
Active
Size
23,900 SF
Property subtype
INDUSTRIAL
Site & Location
Neighborhood
West Town
Amenities
natural light
air-conditioned
solar plant
Listing Agency:
CBRE | Chicago
(312) 935-1400
Listed By:
Matt Cowie
(312) 735-6510
Source:
Moodyscre
Added: Apr 8, 2025
Changed: Oct 26
Last Checked: Oct 30 at 2:27PM
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 CBRE | Chicago
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Investment Insights
Based on property information with market context.
This recently renovated warehouse and office space features a roof-mounted solar plant (58.95 kW), plenty of natural light, and air conditioning throughout. The layout supports both warehouse operations and office use, with updates designed to improve day-to-day functionality.
Located at 2135 W Carroll Ave in Chicago, IL 60612, the property is positioned for tenants and buyers seeking a combined warehouse-and-office configuration in a single asset. The existing improvements and building systems make it well-suited for an operator that needs climate-controlled workspace alongside functional warehouse space.
Located at 2135 W Carroll Ave in Chicago, IL 60612, the property is positioned for tenants and buyers seeking a combined warehouse-and-office configuration in a single asset. The existing improvements and building systems make it well-suited for an operator that needs climate-controlled workspace alongside functional warehouse space.
Key Highlights
- 58.95 kW roof solar plant
- Recently renovated warehouse and office space
- Air‑conditioned for climate control
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$275,902
Cap Rate
5.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,518,040
$5.5M
Cap Rate 7%
$3,941,457
$3.9M
Cap Rate 9%
$3,065,578
$3.1M
Market Conditions
NOI Build-Up for 23,900 SF
Gross rent
$458.9K $19.20/SF
− Vacancy
−$34.4K −$1.44/SF
EGI
$424.5K $17.76/SF
− OpEx
−$148.6K −$6.22/SF
NOI
$275.9K $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%
$5,518,040
Cap Rate 7%
$3,941,457
Cap Rate 9%
$3,065,578
Alternative Uses
Best Use
Office B
$7.33M
$6.41M – $8.55M
NOI $512,798 @ 7.0% cap · market cap 9.32%
Second Best
Flex RnD
$3.94M
$3.45M – $4.60M
NOI $275,902 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$11.27M
$9.86M – $13.15M
NOI $788,815 @ 7.0% cap · market cap 14.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,836
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60612, IL
34,402
Population
16,763
Households
2.1
Avg Household Size
34
Median Age
41%
College-Educated
89%
High-School Grad
3.7 sq mi
ZIP Area
9,298
Density / Sq Mi
$60,457
Median Household Income
$46,582
Median Earnings
$1,330
Median Rent
$331,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Flex space - Recently renovated warehouse and office space with a roof solar plant, natural light, and air conditioning.
Where is this flex space located?
The property is located at 2135 W Carroll Ave Chicago, IL.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 58.95 kW roof solar plant; Recently renovated warehouse and office space; Air‑conditioned for climate control
