Two-Level Industrial Warehouse & Event
For Sale
$2,400,000
3705 W Grand Avenue, Chicago, IL 60651
COMMERCIAL - Chicago, IL
Property Size20,000 SF
Lot Size0.50 Acres
Price / SF$120
Days on Market444
Property Features for 3705 W Grand Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
From W Division St go North on W Grand to property
Subdivision
CHI - Humboldt Park
Standard status
Active
APN
16021300130000
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
31752
Utilities
Cooling system
Central Air
Building Details
Year built
1956
Floors in Building
2
Number of units
1
Building materials
Brick
Listing Agency:
eXp Realty
(888) 574-9405
Listed By:
Oscar Estrada · License #475195906
(888) 574-9405
Added: May 14, 2025
Changed: Jun 30
Last Checked: Jul 31 at 2:06AM
MLS# 12362666
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.
Investment Insights
Based on property information with market context.
This two-level industrial warehouse totals 20,000 square feet, with approximately 5,000 square feet on the upper level. The ground floor offers a spacious warehouse environment with high ceilings and ample power capacity, and includes enclosed parking. An adjoining event space is built into the configuration and includes a bar, lounge areas, entertainment platforms, and facilities for wellness and recreation.
The upper level provides comfortable accommodations, including bedrooms, kitchens, and private relaxation areas, supporting extended stays or staff use. The property is listed under zoning described as COMMR.
The sale also includes an additional parking lot at 3732 W Division St (PIN# 16021300370000). The overall property configuration includes a fenced parking lot alongside the enclosed parking.
The upper level provides comfortable accommodations, including bedrooms, kitchens, and private relaxation areas, supporting extended stays or staff use. The property is listed under zoning described as COMMR.
The sale also includes an additional parking lot at 3732 W Division St (PIN# 16021300370000). The overall property configuration includes a fenced parking lot alongside the enclosed parking.
Key Highlights
- C2‑1 Zoning allows for diverse business uses, including retail, liquor stores, warehouses, and auto shops, plus residential above ground floor.
- 20,000 sq. ft. warehouse with 5,000 sq. ft. upstairs**, suitable for work/live, heavy industrial, or event space.
- Includes an event space with bar, lounge areas, and entertainment platforms.**
Financial Insights For Warehouse
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 | $188.6k | $9.43 |
| − Vacancy | −$10.4k | −$0.52 |
| EGI | $178.2k | $8.91 |
| − OpEx | −$26.7k | −$1.34 |
| NOI | $151.5k | $7.57 |
20,000 SF · lease $9.43/SF/yr · vacancy 5.50% · expense 15.00%
Alternative Uses
Best Use
Flex RnD
$3.30M
$2.89M – $3.85M
NOI $230,880 @ 7.0% cap · market cap 9.62%
Second Best
Warehouse
$2.16M
$1.89M – $2.52M
NOI $151,493 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$9.43M
$8.25M – $11.00M
NOI $660,096 @ 7.0% cap · market cap 27.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,546
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60651, IL
62,819
Population
22,885
Households
2.7
Avg Household Size
36
Median Age
16%
College-Educated
77%
High-School Grad
3.5 sq mi
ZIP Area
17,948
Density / Sq Mi
$52,963
Median Household Income
$33,783
Median Earnings
$1,186
Median Rent
$262,700
Median Home Value
Market
Vacancy Rate% for Industrial in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- So Soulful Eatery — 3944 W Chicago Ave, Chicago, IL 60651
Frequently Asked Questions
What type of property is this?
Flex space - Two-level warehouse with enclosed and fenced parking, plus an adjoining event space and upper-level living accommodations.
Where is this flex space located?
The property is located at 3705 W Grand Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: C2‑1 Zoning allows for diverse business uses, including retail, liquor stores, warehouses, and auto shops, plus residential above ground floor.; 20,000 sq. ft. warehouse with 5,000 sq. ft. upstairs**, suitable for work/live, heavy industrial, or event space.; Includes an event space with bar, lounge areas, and entertainment platforms.**
