Renovated Flex
For Sale
$725,000
3725 N Western Avenue, Chicago, IL 60618
Updated single-story commercial space with overhead access at both the front and rear.
Property Size3,210 SF
Price / SF$225.86
Days on Market107
Property Features for 3725 N Western Avenue
General Information
Standard status
Active
Size
3,210 SF
Property subtype
COMMERCIAL
Additional Details
Road Access
Yes
Clear Height
12 ft
Taxes and HOA fees
Annual Taxes
$20,548
Building Details
Building Size
3,210 SF
Year Built
1937
Buildings
1
Stories
1
Listing Agency:
Strauss Realty Ltd 773-736-3600 Overview Other property details Taxes $20,549 Tax Frequency Annually CNET Properties L.L.C. Request a tour Contact agent Request a tour Contact agent Listed by Craig Wolf with Strauss Realty Ltd 773-736-3600
Listed By:
Craig Wolf · License #475163046
(773) 736-3600
Source:
Cnetproperties
Added: Jun 29
Changed: Oct 2
Last Checked: Oct 11 at 11:31AM
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 Strauss Realty Ltd 773-736-3600 Overview Other property details Taxes $20,549 Tax Frequency Annually CNET Properties L.L.C. Request a tour Contact agent Request a tour Contact agent Listed by Craig Wolf with Strauss Realty Ltd 773-736-3600
Investment Insights
Based on property information with market context.
This 3,210-square-foot flex property is arranged as a single-story building with a 12-foot ceiling and overhead doors at the front and rear. The structure was built in 1937 and has been fully renovated, providing a refreshed commercial setting for a range of flex-space applications.
The property is located on Western Avenue near Addison Street in Chicago’s North Center. Nearby businesses include Pete’s Pizza, Potbelly, Starbucks, Dave’s Hot Chicken, Waveland Bowl, Mariano’s, AutoZone, and Lucas Tires. The building is offered for sale or lease.
The property is located on Western Avenue near Addison Street in Chicago’s North Center. Nearby businesses include Pete’s Pizza, Potbelly, Starbucks, Dave’s Hot Chicken, Waveland Bowl, Mariano’s, AutoZone, and Lucas Tires. The building is offered for sale or lease.
Key Highlights
- 3,210‑square‑foot single‑story flex building
- Fully renovated commercial property
- Front and rear overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,801
Cap Rate
4.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$676,020
$676.0K
Cap Rate 7%
$482,871
$482.9K
Cap Rate 9%
$375,567
$375.6K
Market Conditions
NOI Build-Up for 3,210 SF
Gross rent
$57.8K $18.00/SF
− Vacancy
−$5.8K −$1.80/SF
EGI
$52.0K $16.20/SF
− OpEx
−$18.2K −$5.67/SF
NOI
$33.8K $10.53/SF
Area
ZIP 60618
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$676,020
Cap Rate 7%
$482,871
Cap Rate 9%
$375,567
Alternative Uses
Best Use
Flex RnD
$482.9K
$422.5K – $563.4K
NOI $33,801 @ 7.0% cap · market cap 4.66%
Second Best
Industrial
$195.3K
$170.9K – $227.9K
NOI $13,672 @ 7.0% cap · market cap 1.89%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,176 @ 7.0% cap · market cap 13.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
12 ft
Clear height
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,400
Businesses Nearby
Under-served
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 - Updated single-story commercial space with overhead access at both the front and rear.
Where is this flex space located?
The property is located at 3725 N Western Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3,210‑square‑foot single‑story flex building; Fully renovated commercial property; Front and rear overhead doors
