Manufacturing Building with High
For Sale
$1,999,000
242 N Western Avenue, Chicago, IL 60612
PMD4-zoned building with a flexible floor plan, natural light, and security features.
Property Size8,700 SF
Price / SF$229.77
Days on Market122
Property Features for 242 N Western Avenue
General Information
Standard status
Active
Size
8,700 SF
Property subtype
COMMERCIAL
Zoning
PMD4
Taxes and HOA fees
Annual Taxes
$19,056
Amenities
Security features
Building Details
Building Size
8,700 SF
Year Built
1969
Buildings
1
Listing Agency:
Jameson Sotheby's Intl Realty 773-744-4447 Overview Additional information MLS R ID 12577677 Interior features Bedrooms 0 Cooling Yes Exterior features Lot Size 0.18 Acres Other property details Taxes $38,211 Tax Frequency Annually Coldwell Banker Dawn McKenna Group Request a tour Contact agent Request a tour Contact agent Listed by Michael Hulett with Jameson Sotheby's Intl Realty 773-744-4447
Listed By:
Michael Hulett
Source:
Dawnmckennagroup
Added: Jun 9
Changed: Oct 8
Last Checked: Oct 7 at 3:31PM
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 Jameson Sotheby's Intl Realty 773-744-4447 Overview Additional information MLS R ID 12577677 Interior features Bedrooms 0 Cooling Yes Exterior features Lot Size 0.18 Acres Other property details Taxes $38,211 Tax Frequency Annually Coldwell Banker Dawn McKenna Group Request a tour Contact agent Request a tour Contact agent Listed by Michael Hulett with Jameson Sotheby's Intl Realty 773-744-4447
Investment Insights
Based on property information with market context.
The 8,700-square-foot manufacturing building at 242 N Western Ave offers a flexible floor plan for industrial-oriented operations. High ceilings, natural light, security features, and on-site parking are among the property’s stated features. The building is zoned PMD4, with room for expansion also identified in the property information.
Located in Chicago, the property is positioned near major transportation routes and business amenities. Its combination of industrial zoning, adaptable interior space, and practical building features supports a range of manufacturing-related requirements.
Located in Chicago, the property is positioned near major transportation routes and business amenities. Its combination of industrial zoning, adaptable interior space, and practical building features supports a range of manufacturing-related requirements.
Key Highlights
- Manufacturing facility measuring 8,700 SF
- PMD4 zoning
- Flexible floor plan with high ceilings and natural light
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,433
Cap Rate
5.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,008,660
$2.0M
Cap Rate 7%
$1,434,757
$1.4M
Cap Rate 9%
$1,115,922
$1.1M
Market Conditions
NOI Build-Up for 8,700 SF
Gross rent
$167.0K $19.20/SF
− Vacancy
−$12.5K −$1.44/SF
EGI
$154.5K $17.76/SF
− OpEx
−$54.1K −$6.22/SF
NOI
$100.4K $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%
$2,008,660
Cap Rate 7%
$1,434,757
Cap Rate 9%
$1,115,922
Alternative Uses
Best Use
Flex RnD
$1.43M
$1.26M – $1.67M
NOI $100,433 @ 7.0% cap · market cap 5.02%
Second Best
Industrial
$779.4K
$682.0K – $909.3K
NOI $54,557 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$4.10M
$3.59M – $4.79M
NOI $287,142 @ 7.0% cap · market cap 14.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,799
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - PMD4-zoned building with a flexible floor plan, natural light, and security features.
Where is this manufacturing property located?
The property is located at 242 N Western Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Manufacturing facility measuring 8,700 SF; PMD4 zoning; Flexible floor plan with high ceilings and natural light
