Building Details

Building Size 18,000 SF

Year Built 1941

Stories 2

Construction brick

Listing Agency: Home Realty Group, Inc

Listed By: Annette Kim Show Phone

Source: Fishmangroup

Added: Oct 2 Changed: Oct 23 Last Checked: Oct 23 at 1:24PM

Report an Issue

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 Home Realty Group, Inc

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 1941 flex building in Chicago has solid brick construction and a dedicated loading dock. Its MANUF zoning is suited to the property's industrial character.

The property is on N. Ravenswood Avenue, with CTA Brown Line stops and the Ravenswood Metra station nearby. Major arterial routes are also accessible from the area.

Key Highlights

• Solid brick construction
• Dedicated loading dock
• MANUF zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$207,792

Cap Rate

8.31%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,155,840 $4.2M

Cap Rate 7%

$2,968,457 $3.0M

Cap Rate 9%

$2,308,800 $2.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 18,000 SF

Gross rent

$345.6K $19.20/SF

− Vacancy

−$25.9K −$1.44/SF

EGI

$319.7K $17.76/SF

− OpEx

−$111.9K −$6.22/SF

NOI

$207.8K $11.54/SF

Area

Chicago, IL

Vacancy

7.50%

Lease Rate

$19.20 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,155,840

Cap Rate 7%

$2,968,457

Cap Rate 9%

$2,308,800

Alternative Uses

Best Use

Flex RnD

$2.97M

$2.60M – $3.46M (±1% cap)

NOI $207,792 @ 7.0% cap · market cap 8.31%

Second Best

Warehouse

$1.95M

$1.70M – $2.27M (±1% cap)

NOI $136,344 @ 7.0% cap · market cap 5.45%

Theoretical Best

Office A

$8.49M

$7.43M – $9.90M (±1% cap)

NOI $594,086 @ 7.0% cap · market cap 23.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Electrical Service Auto Parts Store Nursing Home Home Appliance Store (Bike/Boat/Book/etc) Store Carpet & Flooring Store

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

4,413

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 60613, IL

53,048

Population

31,263

Households

1.7

Avg Household Size

34

Median Age

75%

College-Educated

97%

High-School Grad

2.3 sq mi

ZIP Area

23,064

Density / Sq Mi

$91,351

Median Household Income

$68,713

Median Earnings

$1,616

Median Rent

$397,800

Median Home Value

Market

Vacancy Rate% for Industrial in Chicago, IL

4.9% 2019

5.4% 2020

4% 2021

3.3% 2022

4.5% 2023

4.5% 2024

4.7% 2025

Similar For Sale Nearby

See more

Flex Space with Loading Docks

2700 N Campbell Avenue, Chicago, IL 60647

$3,200,000

0.38 Acres

View details

Versatile Commercial Property on Cicero Avenue

3632-52 N Cicero Avenue, Chicago, IL 60641

$1,999,000

15,900 SF

View details

Renovated Commercial Building in Irving Park

3921 N Elston Ave, Chicago, IL 60618

$2,399,000

14,300 SF

View details

Freestanding Flex Space with Office

5660 N Elston Ave, Chicago, IL 60646

$1,635,000

13,875 SF

View details

Multi-Building Warehouse Property

3659 W Harrison Street, Chicago, IL 60624

$1,700,000

27,229 SF

View details

Industrial Warehouse with Drive-In Door

2419 S. Michigan Ave., Chicago, IL 60616

$1,750,000

10,774 SF

View details

Flex Warehouse with Office Buildout

242 North Western Avenue, Chicago, IL 60612

$2,199,000

8,700 SF

View details

Flex Space with Private Offices

210 S Desplaines Street #NE, Chicago, IL 60661

$2,699,000

8,000 SF

View details

Live-Work Space with Restaurant Facility

2054 W Grand Ave, Chicago, IL 60612

$3,249,000

9,363 SF

View details

Warehouse with Dock Loading

4155 North Rockwell Street, Chicago, IL 60618

$1,495,000

7,760 SF

View details

Warehouse with Cold Storage

2344 S Blue Island Avenue, Chicago, IL 60608

$2,100,000

5,000 SF

View details

Wolcott Avenue Commercial Building For Sale

412 North Wolcott Avenue, Chicago, IL 60622

$3,750,000

6,800 SF

View details

Similar Off Market Nearby

• Cloud Cookie — 3809 N Clark St 1st floor, Chicago, IL 60613
• Raizes Mexican Cocktail Bar + Kitchen — 3925 N Lincoln Ave #2417, Chicago, IL 60613
• Sazon Chicago — 1416 Irving Park Rd, Chicago, IL 60613
• Dinner Is Solved — 4412 N Damen Ave, Chicago, IL 60625
• At Your Service Inc — 4541 N Ravenswood Ave, Chicago, IL 60640

Frequently Asked Questions

What type of property is this?

Flex space - A dedicated loading dock provides direct support for freight handling.

Where is this flex space located?

The property is located at 4321 N Ravenswood Avenue Chicago, IL.

What is the asking price?

The asking price for this property is $2,500,000.

What are key features of this property?

This property features: Solid brick construction; Dedicated loading dock; MANUF zoning