242 N Western Avenue, Chicago, IL 60612
- Added:
- Jun 9, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 10 at 7:06 am
Property Features for 242 N Western Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- PMD
- Standard status
- Active
- APN
- 16124140870000
- Lot size
- 0.18 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 38211
Utilities
- Cooling system
- Zoned, Central Air
Building Details
- Year built
- 1969
- Floors in Building
- 2
- Number of units
- 1
- Flooring type
- Concrete
- Building materials
- Brick
Listing agent Michael Hulett License #475111996 (312) 335-3291
Listing office Jameson Sotheby's Intl Realty 425 W. North Ave. suite 1, Chicago, IL (312) 751-0300
Listing date Jun 9, 2026
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 8700 SF flex warehouse/office with brick construction, zoned PMD4
- Main floor includes 17‑ft ceilings, largely open span warehouse, and a large private office with workstations
- Two loading docks: 13'6" and 10'6", plus warehouse is 6400 SF
- Second floor offers open workspace with polished concrete floors, custom bar/kitchen, full bath with shower, and storage
- Utilities and climate: central air and zoned cooling, full heat and AC throughout, plus high R‑value spray foam insulation
- Power and site features include EV charging station, 480A 3‑phase with additional 220A service, and parking lot with snow‑melt lines
Overview
Located at 242 N Western Avenue in Chicago, the property is described as having high traffic exposure on Western Avenue. The site includes parking with snow-melt lines in place and an EV charging station.
With substantial electrical service listed at 480A 3-phase plus an additional 220-amp service, the space is positioned for businesses that want warehouse capacity alongside professional, finished office environments. Zoning is PMD, and the property is described as superbly maintained and ready for a variety of business types.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $334.1k | $38.40 |
| − Vacancy | −$85.2k | −$9.79 |
| EGI | $248.9k | $28.61 |
| − OpEx | −$62.2k | −$7.15 |
| NOI | $186.7k | $21.46 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Katr2U — 324 N Leavitt St, Chicago, IL 60612
- Neal's Gourmet Catering — 324 N Leavitt St, Chicago, IL 60612
- Mac Dynamite — 324 N Leavitt St, Chicago, IL 60612
- Rowan Catering — 324 N Leavitt St, Chicago, IL 60612
- The Flora Fare — 324 N Leavitt St, Chicago, IL 60612
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6869481
- Latitude
- 41.8859062
