Flex Space with Loading
For Sale
$5,000,000
4242 W Bryn Mawr Ave, Chicago, IL 60646
Owner-user or investment property with substantial available area, on-site parking, and access to shared loading facilities.
Property Size43,170 SF
Lot Size2.80 Acres
Price / SF$115.82
Days on Market109
Property Features for 4242 W Bryn Mawr Ave
General Information
Standard status
Active
Size
43,170 SF
Total Parking Spaces
96
Lot size
2.80 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
15 ft
Dock-High Doors
2
Drive-In Doors
2
Building Details
Year Built
1963
Buildings
1
Listing Agency:
Strauss Realty Ltd
Listed By:
Adam Schneiderman · License #475149601
(773) 736-3600
Source:
Searchillinoishomesforsale
Added: May 18
Changed: Sep 2
Last Checked: Sep 2 at 6:36PM
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.
This 43,170 SF flex property occupies a 2.8-acre site and supports both owner occupancy and continued leasing. The building includes 15-foot clear ceiling height, two shared loading docks, two drive-in doors with forklift access, and 96 on-site parking spaces. Built in 1963, the property offers a practical configuration for industrial or commercial operations.
A signalized corner at Bryn Mawr Ave. and Tripp Ave. places the building in Chicago’s Sauganash neighborhood with access to I-90/94. The current occupancy profile includes 19,000 SF leased and 24,170 SF available for owner use or lease-up, creating flexibility for an owner-user, investor, or combined operating and rental strategy.
A signalized corner at Bryn Mawr Ave. and Tripp Ave. places the building in Chicago’s Sauganash neighborhood with access to I-90/94. The current occupancy profile includes 19,000 SF leased and 24,170 SF available for owner use or lease-up, creating flexibility for an owner-user, investor, or combined operating and rental strategy.
Key Highlights
- 43,170 SF flex building on a 2.8‑acre site
- 19,000 SF leased with 24,170 SF available
- Two shared loading docks and two drive‑in doors with forklift access
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$326,998
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,539,960
$6.5M
Cap Rate 7%
$4,671,400
$4.7M
Cap Rate 9%
$3,633,311
$3.6M
Market Conditions
NOI Build-Up for 43,170 SF
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.
Gross rent
$407.1K $9.43/SF
− Vacancy
−$22.4K −$0.52/SF
EGI
$384.7K $8.91/SF
− OpEx
−$57.7K −$1.34/SF
NOI
$327.0K $7.57/SF
Area
Chicago, IL
Vacancy
5.50%
Lease Rate
$9.43 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,539,960
Cap Rate 7%
$4,671,400
Cap Rate 9%
$3,633,311
Alternative Uses
Best Use
Flex RnD
$7.12M
$6.23M – $8.31M
NOI $498,354 @ 7.0% cap · market cap 9.97%
Second Best
Warehouse
$4.67M
$4.09M – $5.45M
NOI $326,998 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$20.35M
$17.81M – $23.75M
NOI $1,424,817 @ 7.0% cap · market cap 28.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
2
Dock-high doors
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
577
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60646, IL
28,383
Population
11,636
Households
2.4
Avg Household Size
44
Median Age
58%
College-Educated
95%
High-School Grad
4.4 sq mi
ZIP Area
6,451
Density / Sq Mi
$111,115
Median Household Income
$66,105
Median Earnings
$1,241
Median Rent
$493,600
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.
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Frequently Asked Questions
What type of property is this?
Flex space - Owner-user or investment property with substantial available area, on-site parking, and access to shared loading facilities.
Where is this flex space located?
The property is located at 4242 W Bryn Mawr Ave Chicago, IL.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 43,170 SF flex building on a 2.8‑acre site; 19,000 SF leased with 24,170 SF available; Two shared loading docks and two drive‑in doors with forklift access
