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Expansive West Hub Redevelopment Opportunity
For Sale
$14,000,000

401 N Western Avenue, Chicago, IL 60612

274,550 SF complex in Kinzie Corridor for sale/lease.

Property Size274,550 SF
Lot Size2.10 Acres
Price / SF$50.99
Days on Market249

Property Features for 401 N Western Avenue

General Information

Standard status Active
Size 274,550 SF
Lot size 2.10 Acres
Property subtype Commercial

Building Details

Year Built 1915
Listing Agency: STRAUSS REALTY LTD
Listed By: ADAM SCHNEIDERMAN · License #475149601
Source: Corcoran
Added: Nov 24, 2025 Changed: Jul 6 Last Checked: Jul 30 at 8:33AM

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

Investment Insights

Based on property information with market context.

The West Hub, located at 401-435 N. Western Ave, presents a redevelopment opportunity west of Ogden. This complex offers 274,550 SF of concrete and timber loft space across 1.803 acres, with an additional 0.3-acre surface lot. The property comprises two interconnected buildings with industrial character, flexible layouts, and infrastructure. Leasing options range from 7,000 SF to 151,800 SF. A first-floor 18,295 SF warehouse and 10,470 SF office space are available as-is for $8 PSF MG, while floors 2 through 6 are offered as-is at $5 PSF MG. Building features include a courtyard parking area, fourteen exterior truck-level docks, floor loads up to 200 lbs per SF, 10'-14' ceiling heights, three freight elevators, one passenger elevator, and full sprinkler coverage. Situated in the Kinzie Corridor, just outside Chicago's CBD, the property provides access to the Western Metra Station and five bus routes. It benefits from high visibility, with 34,400 vehicles per day on Western Ave and 18,400 on Grand Ave, plus exposure to approximately 89,500 daily Metra commuters. The East Building has six stories with approximately 14,360 SF floor plates along W. Hubbard Street. The West Building features 300 feet of frontage on N. Western Avenue and 250 feet of southern frontage along the elevated rail line, with floor plates around 32,500 SF. Located within Enterprise Zone 4 and the Kinzie Industrial TIF District, the site is eligible for Chicago PACE financing and supports industrial, office, and flex uses.

Key Highlights

  • Expansive 274,550 SF complex on 1.803 acres with an additional 0.3‑acre surface lot.
  • Located in the rapidly expanding Kinzie Corridor with direct access to transportation and high visibility (34,400 vehicles per day on Western Ave).
  • Benefits from powerful redevelopment incentives including Enterprise Zone 4, Kinzie Industrial TIF District, and eligibility for Chicago PACE financing.

Property Analytics

Current Use

Builder's Cabinet General Contractor Jagoli Furniture & Home Goods Jobie store Hardware & Home Improvement

Suggested Use

Top Pick Dental Office Accounting Firm (Bike/Boat/Book/etc) Store Nursing Home HVAC Service Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,540
Businesses Nearby
Well-served
Demand for This Use

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

Market

Vacancy Rate% for Office in Chicago, IL

17.9% 2019
19.2% 2020
20.7% 2021
23.1% 2022
23.3% 2023
25.1% 2024
25.6% 2025
Rey
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Frequently Asked Questions

What type of property is this?
Flex space - 274,550 SF complex in Kinzie Corridor for sale/lease.
Where is this flex space located?
The property is located at 401 N Western Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $14,000,000.
What are key features of this property?
This property features: Expansive 274,550 SF complex on 1.803 acres with an additional 0.3‑acre surface lot.; Located in the rapidly expanding Kinzie Corridor with direct access to transportation and high visibility (34,400 vehicles per day on Western Ave).; Benefits from powerful redevelopment incentives including Enterprise Zone 4, Kinzie Industrial TIF District, and eligibility for Chicago PACE financing.
More about this property
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