Flex Warehouse with
For Sale
Contact for pricing
439 N Western Ave, Chicago, IL 60612
Industrial flex building includes office space, a shop with 14-foot ceilings, and a second-floor liveable area.
Property Size15,526 SF
Price / SF$289.84
Days on Market203
Property Features for 439 N Western Ave
General Information
Standard status
Active
Size
15,526 SF
Property subtype
Industrial
Zoning
PMD
Investment Type
Owner/User
Warehouse & Industrial
Clear Height
14 ft
Dock-High Doors
1
Drive-In Doors
1
Amenities
service elevator
exercise room
bar/party room
full kitchen
bath
bedroom
Building Details
Year Built
1930
Stories
2
Listing Agency:
GMC Realty LTD
Listed By:
Michael Carr · License #471.017461
(630) 994-3200
Source:
Crexi
Added: Apr 2
Changed: Oct 7
Last Checked: Oct 20 at 5:20PM
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 GMC Realty LTD
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Investment Insights
Based on property information with market context.
This flex warehouse property totals approximately 15,500 square feet of building area and combines office, shop, and liveable second-floor space. The offering includes 5,950 square feet of office area and 5,000 square feet of shop area with 14-foot ceilings. The shop is supported by one drive-in door and one loading dock.
An additional 5,000 square feet of second-floor livable area is included, with an exercise room, bar/party room, full kitchen, bath, and bedroom. A service elevator provides access between levels.
The property is configured to support a mixed-use operation with both functional work space and dedicated office and residential amenities on-site.
An additional 5,000 square feet of second-floor livable area is included, with an exercise room, bar/party room, full kitchen, bath, and bedroom. A service elevator provides access between levels.
The property is configured to support a mixed-use operation with both functional work space and dedicated office and residential amenities on-site.
Key Highlights
- Approx. 15,500 sq ft industrial flex building with office, shop, and second‑floor livable space
- 5,950 sq ft office area
- 5,000 sq ft shop area with 14‑ft ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$179,232
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,584,640
$3.6M
Cap Rate 7%
$2,560,457
$2.6M
Cap Rate 9%
$1,991,467
$2.0M
Market Conditions
NOI Build-Up for 15,526 SF
Gross rent
$298.1K $19.20/SF
− Vacancy
−$22.4K −$1.44/SF
EGI
$275.7K $17.76/SF
− OpEx
−$96.5K −$6.22/SF
NOI
$179.2K $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%
$3,584,640
Cap Rate 7%
$2,560,457
Cap Rate 9%
$1,991,467
Alternative Uses
Best Use
Flex RnD
$2.56M
$2.24M – $2.99M
NOI $179,232 @ 7.0% cap · market cap 3.98%
Second Best
Industrial
$1.39M
$1.22M – $1.62M
NOI $97,363 @ 7.0% cap · market cap 2.16%
Theoretical Best
Office A
$7.32M
$6.41M – $8.54M
NOI $512,433 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
14 ft
Clear height
1
Dock-high doors
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
2,574
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Chicago, IL
Similar Off Market Nearby
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- Rowan Catering — 324 N Leavitt St, Chicago, IL 60612
- Big Delicious Planet's Canteen — 412 N Wolcott Ave, Chicago, IL 60622
Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex building includes office space, a shop with 14-foot ceilings, and a second-floor liveable area.
Where is this flex space located?
The property is located at 439 N Western Ave Chicago, IL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Approx. 15,500 sq ft industrial flex building with office, shop, and second‑floor livable space; 5,950 sq ft office area; 5,000 sq ft shop area with 14‑ft ceilings
