Building Details

Building Size 5,100 SF

Year Built 1925

Stories 1

Listing Agency: Century 21 Circle

Listed By: Mark Ahmad · License #471007186 Show Phone

Source: Fishmangroup

Added: Aug 7 Changed: Oct 23 Last Checked: Oct 23 at 5:48PM

Report an Issue

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 Century 21 Circle

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 5,100-square-foot flex property was built in 1925 and previously housed food processing operations. Its current layout supports a range of commercial and industrial uses, including food production, commissary kitchen operations, catering, baking, packaging, distribution, warehousing, cold storage, and light manufacturing. The property is zoned COMMR.

At 2405 W Ardmore Avenue, the building is near Western Avenue, Peterson Avenue, and Lincoln Avenue, with access to I-90/94 and Lake Shore Drive. Metra service is a few blocks away, and O’Hare International Airport is approximately 30–40 minutes away.

Key Highlights

• 5,100‑square‑foot building
• Previously used for food processing; current layout supports varied commercial and industrial operations
• Potential uses include commissary kitchen, catering, bakery, packaging, distribution, warehouse, cold storage, and light manufacturing

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,631

Cap Rate

6.24%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$772,620 $772.6K

Cap Rate 7%

$551,871 $551.9K

Cap Rate 9%

$429,233 $429.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,100 SF

Gross rent

$48.1K $9.43/SF

− Vacancy

−$2.6K −$0.52/SF

EGI

$45.4K $8.91/SF

− OpEx

−$6.8K −$1.34/SF

NOI

$38.6K $7.57/SF

Area

Chicago, IL

Vacancy

5.50%

Lease Rate

$9.43 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$772,620

Cap Rate 7%

$551,871

Cap Rate 9%

$429,233

Alternative Uses

Best Use

Specialty Retail

$1.36M

$1.19M – $1.58M (±1% cap)

NOI $94,921 @ 7.0% cap · market cap 15.33%

Second Best

Flex RnD

$841.1K

$735.9K – $981.2K (±1% cap)

NOI $58,874 @ 7.0% cap · market cap 9.51%

Theoretical Best

Office A

$2.40M

$2.10M – $2.81M (±1% cap)

NOI $168,324 @ 7.0% cap · market cap 27.19%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Bale Meat Processing ... Take-out & Catering

Suggested Use

Top Pick Florist (Bike/Boat/Book/etc) Store Skin Care Clinic Pet Grooming Service Veterinary Clinic Catering 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.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,659

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 60659, IL

40,579

Population

14,748

Households

2.8

Avg Household Size

36

Median Age

40%

College-Educated

82%

High-School Grad

2.4 sq mi

ZIP Area

16,908

Density / Sq Mi

$70,033

Median Household Income

$40,493

Median Earnings

$1,391

Median Rent

$358,800

Median Home Value

Market

Vacancy Rate% for Industrial in Chicago, IL

4.9% 2019

5.4% 2020

4% 2021

3.3% 2022

4.5% 2023

4.5% 2024

4.7% 2025

Similar For Sale Nearby

See more

Brick Warehouse with Drive-In Doors

4271 N Elston Avenue, Chicago, IL 60618

$700,000

5,200 SF

View details

Industrial/Manufacturing Building with Overhead Door Access

4730 W Armitage Avenue, Chicago, IL 60639

$649,900

5,625 SF

View details

Flex Building with Drive-In Access

3638-40 N Cicero Avenue, Chicago, IL 60641

$699,000

4,500 SF

View details

Flex Space with Overhead Doors

3542 North Milwaukee Avenue, Chicago, IL 60641

$599,900

6,250 SF

View details

Brick Flex Space with Main Hall

632 N Albany Avenue, Chicago, IL 60612

$460,000

0.15 Acres

View details

Renovated Wedding Venue

5319 W Belmont Avenue, Chicago, IL 60641

$999,000

5,300 SF

View details

Brick Flex Building with Fenced Parking

4511 W BELMONT Avenue, Chicago, IL 60641

$795,000

4,500 SF

View details

Divisible Flex Space

5245 W Diversey Avenue, Chicago, IL 60639

$490,000

6,250 SF

View details

Turnkey Restaurant with Outdoor Seating

416 W Ontario Street C-1, Chicago, IL 60654

$848,888

4,300 SF

View details

Restaurant Space with Patio

C-1-416 W Ontario St, Chicago, IL 60654

$848,888

4,300 SF

View details

Two-Unit Mixed-Use Property

7710-12 W Belmont Ave, Chicago, IL 60634

$749,999

4,000 SF

View details

Mixed-Use Property with Apartment

4163 N Elston Ave, Chicago, IL 60618

$600,000

3,316 SF

View details

Similar Off Market Nearby

• FridaSofia Catering — 5741 N Campbell Ave #1, Chicago, IL 60659
• Braun S — 6240 N Sacramento Ave, Chicago, IL 60659
• Queen k's kitchen — 6305 n oakley ave, chicago, il 60659

Frequently Asked Questions

What type of property is this?

Flex space - The existing configuration can accommodate commercial or light industrial operations, including food production and storage.

Where is this flex space located?

The property is located at 2405 W Ardmore Avenue Chicago, IL.

What is the asking price?

The asking price for this property is $619,000.

What are key features of this property?

This property features: 5,100‑square‑foot building; Previously used for food processing; current layout supports varied commercial and industrial operations; Potential uses include commissary kitchen, catering, bakery, packaging, distribution, warehouse, cold storage, and light manufacturing