Warehouse with Built-Out Office
For Sale
$1,089,000
4535 W Addison Street, Chicago, IL 60641
COMMERCIAL - Chicago, IL
Property Size11,000 SF
Price / SF$99
Days on Market324
Property Features for 4535 W Addison Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MANUF
Directions
Pulaski Rd to Addison St. to property Between Pulaski Rd. and Cicero Ave
Subdivision
CHI - Irving Park
Standard status
Active
APN
13223040500000
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
29966
Building Details
Year built
1954
Floors in Building
1
Building materials
Brick
Listing Agency:
Century 21 Circle · Coldwell Banker Real Estate
(773) 465-4200
Listed By:
Mark Ahmad · License #471007186
(312) 513-4490
Added: Sep 10, 2025
Changed: Jul 28
Last Checked: Jul 30 at 10:06PM
MLS# 12466316
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Versatile warehouse/light industrial building totaling approximately 11,000 square feet, including approximately 3,500 square feet of built-out office space. The layout also includes two overhead doors (side and rear) designed for convenient loading and unloading, along with two restrooms. Zoning is listed as MANUF, which supports a range of commercial and light industrial uses.
The property is located on W Addison Street in Chicago, positioned between Pulaski Rd. and Cicero Ave. Transit access is noted via the CTA Blue and Brown Lines, and the listing states the site is within walking distance to public transportation. The remarks also cite quick access to I-90/94, Lake Shore Drive, and O'Hare International Airport.
Per seller direction, interior access requires buyer bank approval or an acknowledgment letter.
The property is located on W Addison Street in Chicago, positioned between Pulaski Rd. and Cicero Ave. Transit access is noted via the CTA Blue and Brown Lines, and the listing states the site is within walking distance to public transportation. The remarks also cite quick access to I-90/94, Lake Shore Drive, and O'Hare International Airport.
Per seller direction, interior access requires buyer bank approval or an acknowledgment letter.
Key Highlights
- Prime Irving Park/North Center location with excellent access to downtown Chicago and surrounding suburbs.
- Versatile M1‑1 zoning allows for a wide range of commercial/light industrial uses.
- Approximately 11,000 Sq. Ft. total building area with 3,500 Sq. Ft. of built‑out office space.
Financial Insights For Warehouse
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 | $103.7k | $9.43 |
| − Vacancy | −$5.7k | −$0.52 |
| EGI | $98.0k | $8.91 |
| − OpEx | −$14.7k | −$1.34 |
| NOI | $83.3k | $7.57 |
11,000 SF · lease $9.43/SF/yr · vacancy 5.50% · expense 15.00%
Alternative Uses
Best Use
Office B
$3.37M
$2.95M – $3.93M
NOI $236,016 @ 7.0% cap · market cap 21.67%
Second Best
Flex RnD
$1.81M
$1.59M – $2.12M
NOI $126,984 @ 7.0% cap · market cap 11.66%
Theoretical Best
Office A
$5.19M
$4.54M – $6.05M
NOI $363,053 @ 7.0% cap · market cap 33.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,888
Businesses Nearby
Balanced
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
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Recall Total Information Management — 3033 N Knox Ave, Chicago, IL 60641
- Percival Storage Units — 3011 N Knox Ave, Chicago, IL 60641
- Near Perfect Storage Units — 4600 w belmont ave, chicago, il 60641
- W F Halls Self Storage — 3001 N Knox Ave, Chicago, IL 60641
- Move-tastic! — 3100 N Tripp Ave, Chicago, IL 60641
Frequently Asked Questions
What type of property is this?
Warehouse - Versatile warehouse/light industrial building with built-out office space and two overhead doors for loading and unloading.
Where is this warehouse located?
The property is located at 4535 W Addison Street Chicago, IL.
What is the asking price?
The asking price for this property is $1,089,000.
What are key features of this property?
This property features: Prime Irving Park/North Center location with excellent access to downtown Chicago and surrounding suburbs.; Versatile M1‑1 zoning allows for a wide range of commercial/light industrial uses.; Approximately 11,000 Sq. Ft. total building area with **3,500 Sq. Ft. of built‑out office space**.
