Flex Warehouse with
439 N Western Ave Chicago, IL 60612
439 N Western Ave, Chicago, IL, 60612
Contact for pricing
For Sale
Contact for pricing
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 Market112
Property Features for 439 N Western Ave
General Information
- Standard status
- Active
- Size
- 15,526 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1930
Listing agency
GMC Realty LTD
(630) 994-3200
Listed by
Michael Carr · License #471.017461
Source
Crexi
Added: Apr 2 Updated: Jul 22 at 12:43PM Checked: Jul 22 at 12:43PM
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
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
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $596.2k | $38.40 |
| − Vacancy | −$152.0k | −$9.79 |
| EGI | $444.2k | $28.61 |
| − OpEx | −$111.0k | −$7.15 |
| NOI | $333.1k | $21.46 |
15,526 SF · lease $38.40/SF/yr · vacancy 25.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$4.76M
$4.16M – $5.55M
NOI $333,126 @ 7.0% cap · market cap 7.40%
Second Best
Mixed Use
$3.74M
$3.28M – $4.37M
NOI $262,001 @ 7.0% cap · market cap 5.82%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Rubin Richard J
Law Firm
National Air Duct ...
HVAC Service
Similar For Sale Nearby
Similar Off Market Nearby
- Big Delicious Planet's Canteen — 412 N Wolcott Ave, Chicago, IL 60622
- Katr2U — 324 N Leavitt St, Chicago, IL 60612
- Neal's Gourmet Catering — 324 N Leavitt St, Chicago, IL 60612
- Mac Dynamite — 324 N Leavitt St, Chicago, IL 60612
- Rowan Catering — 324 N Leavitt St, Chicago, IL 60612
FAQs
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
