Two-Story Warehouse with Heavy
For Sale
$850,000
2323 N Pulaski Road, Chicago, IL 60639
M-1-2 zoning permits warehousing, storage, light manufacturing, and select commercial or auto-oriented uses.
Property Size20,000 SF
Lot Size0.23 Acres
Price / SF$42.50
Days on Market52
Property Features for 2323 N Pulaski Road
General Information
Standard status
Active
Size
20,000 SF
Lot size
0.23 Acres
Property subtype
COMMERCIAL
Zoning
M-1-2
Site & Location
Neighborhood
Hermosa
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
12 ft
Power
400 amps
Heavy Power
Yes
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$56,112
Building Details
Building Size
20,000 SF
Year Built
1948
Buildings
1
Stories
2
Construction
brick and concrete block
Listing Agency:
Baird & Warner
Listed By:
Wesley Jonberg · License #475124475
(312) 981-2384
Source:
Harkinsandassociates
Added: Sep 8
Changed: Oct 25
Last Checked: Oct 28 at 4:01PM
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 Baird & Warner
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Investment Insights
Based on property information with market context.
This two-story warehouse contains approximately 20,000 square feet on a roughly 10,044-square-foot lot. Built in 1948, the building includes approximately 10% office area, a service elevator, several routes to the upper level, and alley-access loading. Interior construction combines brick and concrete block walls with wood and concrete flooring. The property also has 400/heavy power, approximately 12-foot ceilings, a rubber/flat roof, and full sprinkler coverage.
Zoned commercial/M-1-2, the site accommodates light manufacturing, wholesale, warehousing, storage, and certain commercial or auto-oriented uses. It is within the Pulaski Corridor TIFF and surrounded by industrial and commercial businesses. The Metra Healy stop is approximately a 5-minute walk away, with public bus service also available. I-90/94 and 294 provide regional highway access, while downtown Chicago is approximately 7 miles away.
Zoned commercial/M-1-2, the site accommodates light manufacturing, wholesale, warehousing, storage, and certain commercial or auto-oriented uses. It is within the Pulaski Corridor TIFF and surrounded by industrial and commercial businesses. The Metra Healy stop is approximately a 5-minute walk away, with public bus service also available. I-90/94 and 294 provide regional highway access, while downtown Chicago is approximately 7 miles away.
Key Highlights
- Approximately 20,000 square feet across two stories on a roughly 10,044‑square‑foot lot
- Commercial/M‑1‑2 zoning allows light manufacturing, wholesale, warehousing, storage, and select commercial uses
- 400/heavy power and approximately 12‑foot ceiling height
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,201
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,564,020
$1.6M
Cap Rate 7%
$1,117,157
$1.1M
Cap Rate 9%
$868,900
$868.9K
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$129.6K $6.48/SF
− Vacancy
−$17.9K −$0.89/SF
EGI
$111.7K $5.59/SF
− OpEx
−$33.5K −$1.68/SF
NOI
$78.2K $3.91/SF
Area
ZIP 60639
Vacancy
13.80%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,564,020
Cap Rate 7%
$1,117,157
Cap Rate 9%
$868,900
Alternative Uses
Best Use
Warehouse
$1.36M
$1.19M – $1.58M
NOI $94,958 @ 7.0% cap · market cap 11.17%
Second Best
Industrial
$1.12M
$977.5K – $1.30M
NOI $78,201 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$8.84M
$7.74M – $10.32M
NOI $619,008 @ 7.0% cap · market cap 72.82%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
12 ft
Clear height
Yes
Heavy power
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,750
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60639, IL
89,543
Population
28,656
Households
3.1
Avg Household Size
34
Median Age
15%
College-Educated
69%
High-School Grad
5.0 sq mi
ZIP Area
17,909
Density / Sq Mi
$59,710
Median Household Income
$34,846
Median Earnings
$1,212
Median Rent
$289,000
Median Home Value
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Market
Vacancy Rate% for Industrial in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Warehouse - M-1-2 zoning permits warehousing, storage, light manufacturing, and select commercial or auto-oriented uses.
Where is this warehouse located?
The property is located at 2323 N Pulaski Road Chicago, IL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Approximately 20,000 square feet across two stories on a roughly 10,044‑square‑foot lot; Commercial/M‑1‑2 zoning allows light manufacturing, wholesale, warehousing, storage, and select commercial uses; 400/heavy power and approximately 12‑foot ceiling height
