Flex Building with Loading
For Sale
$859,000
4535 W Addison St, Chicago, IL 60641
M1-1 zoning supports a warehouse/light industrial configuration with office and loading functionality.
Property Size11,000 SF
Price / SF$81.81
Days on Market94
Property Features for 4535 W Addison St
General Information
Standard status
Active
Size
11,000 SF
Zoning
M1-1
Additional Details
Highway Access
Yes
Office Build-Out
3,500 SF
Building Details
Year Built
1954
Building Size
11,000 SF
Listing Agency:
Century 21 Circle
Listed By:
Mark Ahmad · License #471007186
(773) 983-1553
Source:
Realtopiare
Added: Jul 17
Changed: Oct 4
Last Checked: Oct 7 at 4:15PM
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 Century 21 Circle
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Investment Insights
Based on property information with market context.
This 1954 flex property combines warehouse/light industrial space with 3,500 square feet of built-out office area. Two overhead doors—positioned at the side and rear—support loading and unloading, while two restrooms serve the building. M1-1 zoning accommodates a range of commercial and light industrial uses.
The property is located on W Addison St between Pulaski Rd. and Cicero Ave. CTA Blue and Brown Line service is within walking distance, and the site offers access to I-90/94, Lake Shore Drive, and O'Hare International Airport. Its Chicago location provides connections to city neighborhoods, the suburbs, and regional transportation routes.
The property is located on W Addison St between Pulaski Rd. and Cicero Ave. CTA Blue and Brown Line service is within walking distance, and the site offers access to I-90/94, Lake Shore Drive, and O'Hare International Airport. Its Chicago location provides connections to city neighborhoods, the suburbs, and regional transportation routes.
Key Highlights
- 3,500 square feet of built‑out office space
- Two overhead doors at the side and rear of the building
- M1‑1 zoning for commercial and light industrial uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,845
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,316,900
$1.3M
Cap Rate 7%
$940,643
$940.6K
Cap Rate 9%
$731,611
$731.6K
Market Conditions
NOI Build-Up for 10,500 SF
Gross rent
$99.0K $9.43/SF
− Vacancy
−$5.0K −$0.47/SF
EGI
$94.1K $8.96/SF
− OpEx
−$28.2K −$2.69/SF
NOI
$65.8K $6.27/SF
Area
Chicago, IL
Vacancy
5.00%
Lease Rate
$9.43 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,316,900
Cap Rate 7%
$940,643
Cap Rate 9%
$731,611
Alternative Uses
Best Use
Flex RnD
$1.73M
$1.52M – $2.02M
NOI $121,212 @ 7.0% cap · market cap 14.11%
Second Best
Industrial
$940.6K
$823.1K – $1.10M
NOI $65,845 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$4.95M
$4.33M – $5.78M
NOI $346,550 @ 7.0% cap · market cap 40.34%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,888
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60641, IL
69,354
Population
27,377
Households
2.5
Avg Household Size
37
Median Age
36%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
17,339
Density / Sq Mi
$81,649
Median Household Income
$46,376
Median Earnings
$1,249
Median Rent
$373,200
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
- Alltimate Catering — 3051 N Cicero Ave, Chicago, IL 60641
- Best Catering — 3576 N Milwaukee Ave, Chicago, IL 60641
- Professional Wait Staffing Services — 4836 W Irving Park Rd, Chicago, IL 60641
- Sabroso Catering — 4026 N Milwaukee Ave, Chicago, IL 60641
- T&W Solutions LLC — 4042 N Pulaski Rd STE 1, Chicago, IL 60641
Frequently Asked Questions
What type of property is this?
Flex space - M1-1 zoning supports a warehouse/light industrial configuration with office and loading functionality.
Where is this flex space located?
The property is located at 4535 W Addison St Chicago, IL.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: 3,500 square feet of built‑out office space; Two overhead doors at the side and rear of the building; M1‑1 zoning for commercial and light industrial uses
