Flex Space with Drive-In
For Sale
Contact for pricing
Pending
3541 N Elston Ave, Chicago, IL 60618
C1-1 zoning and rear parking support a flexible commercial layout for service, showroom, office, or retail operations.
Property Size5,000 SF
Days on Market203
Property Features for 3541 N Elston Ave
General Information
Standard status
Pending
Size
5,000 SF
Property subtype
Land, Retail
Zoning
C1-1
Building Details
Year Renovated
2022
Buildings
1
Units
1
Listing Agency:
Chicago Real Estate Resources Inc
Listed By:
Eric Janssen · License #IL 471011639
(773) 327-9300
Source:
Crexi
Added: Mar 27
Changed: Oct 10
Last Checked: Oct 14 at 11:45PM
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 Chicago Real Estate Resources Inc
Investment Insights
Based on property information with market context.
This 5,000-square-foot flex property at 3541 N Elston Ave combines adaptable commercial space with practical loading access. A 10' x 10' drive-in door supports receiving and movement of equipment or merchandise, while 25 parking spaces are positioned behind the building. The C1-1 zoning permits a broad range of commercial uses, including contractor offices, artist workshops, showroom concepts, restaurants, medical or dental offices, and personal-service businesses.
The property is located in Chicago, IL 60618, approximately 5 minutes from the Kennedy X-way. Reported traffic at the location is 29,300 vehicles per day, providing a measurable access and exposure characteristic for businesses serving local customers, clients, or vendors.
The property is located in Chicago, IL 60618, approximately 5 minutes from the Kennedy X-way. Reported traffic at the location is 29,300 vehicles per day, providing a measurable access and exposure characteristic for businesses serving local customers, clients, or vendors.
Key Highlights
- 5,000 SF flex property at 3541 N Elston Ave
- 10' x 10' drive‑in door for loading access
- 25 car parking at the rear of the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,327
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,406,540
$1.4M
Cap Rate 7%
$1,004,671
$1.0M
Cap Rate 9%
$781,411
$781.4K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$109.8K $21.96/SF
− Vacancy
−$9.3K −$1.87/SF
EGI
$100.5K $20.09/SF
− OpEx
−$30.1K −$6.03/SF
NOI
$70.3K $14.07/SF
Area
ZIP 60618
Vacancy
8.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,406,540
Cap Rate 7%
$1,004,671
Cap Rate 9%
$781,411
Alternative Uses
Best Use
Retail
$1.00M
$879.1K – $1.17M
NOI $70,327 @ 7.0% cap · market cap 5.41%
Second Best
Flex RnD
$752.1K
$658.1K – $877.5K
NOI $52,650 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$2.18M
$1.91M – $2.55M
NOI $152,922 @ 7.0% cap · market cap 11.76%
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
2,142
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60618, IL
90,316
Population
41,053
Households
2.2
Avg Household Size
35
Median Age
55%
College-Educated
89%
High-School Grad
5.0 sq mi
ZIP Area
18,063
Density / Sq Mi
$101,558
Median Household Income
$60,263
Median Earnings
$1,534
Median Rent
$538,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Flex space - C1-1 zoning and rear parking support a flexible commercial layout for service, showroom, office, or retail operations.
Where is this flex space located?
The property is located at 3541 N Elston Ave Chicago, IL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 5,000 SF flex property at 3541 N Elston Ave; 10' x 10' drive‑in door for loading access; 25 car parking at the rear of the building
