Two-Story Flex
New
For Sale
$1,300,000
4542 W Cermak Road, Chicago, IL 60623
Commercial Sale, Chicago, IL
Property Size18,000 SF
Lot Size0.28 Acres
Price / SF$72.22
Days on Market2
Property Features for 4542 W Cermak Road
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Take I-94 W, I-94Exp W and W Cermak Rd to W Cullerton St Turn left onto W Cullerton St Drive to W Cermak Rd
Subdivision
CHI - North Lawndale
Standard status
Active
APN
16223120190000
Lot size
0.28 Acres
Additional Details
Property Use
Industrial
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
46637
Utilities
Cooling system
Central Air
Building Details
Year built
1914
Floors in Building
2
Listing Agency:
Keller Williams ONEChicago · Keller Williams Realty
Listed By:
Anthony Hardy
(312) 216-2422
Added: Oct 28
Last Checked: Oct 29 at 8:06AM
MLS# 12796575
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.
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Investment Insights
Based on property information with market context.
This two-story flex property contains 18,000 square feet, including 1,800 square feet of office space. The brick building dates to 1914 and is currently vacant. Warehouse features include two grade-level drive-in doors, 14-foot clear height, 400-amp three-phase electrical service, and a wet sprinkler system. Central air is also present, and the site comprises 0.2838 acres.
Located on Chicago’s Cermak Road corridor, the property is zoned M2-3. Potential uses identified for the site include contractor operations, light manufacturing, assembly, wholesale, and warehousing, subject to applicable approvals.
Located on Chicago’s Cermak Road corridor, the property is zoned M2-3. Potential uses identified for the site include contractor operations, light manufacturing, assembly, wholesale, and warehousing, subject to applicable approvals.
Key Highlights
- 18,000‑square‑foot building with 1,800 square feet of office space
- Two grade‑level drive‑in doors and 14‑foot warehouse clear height
- 400‑amp three‑phase electrical service and wet sprinkler system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,877
Cap Rate
8.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,257,540
$2.3M
Cap Rate 7%
$1,612,529
$1.6M
Cap Rate 9%
$1,254,189
$1.3M
Market Conditions
NOI Build-Up for 18,000 SF
Gross rent
$169.7K $9.43/SF
− Vacancy
−$8.5K −$0.47/SF
EGI
$161.3K $8.96/SF
− OpEx
−$48.4K −$2.69/SF
NOI
$112.9K $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%
$2,257,540
Cap Rate 7%
$1,612,529
Cap Rate 9%
$1,254,189
Alternative Uses
Best Use
Flex RnD
$2.97M
$2.60M – $3.46M
NOI $207,792 @ 7.0% cap · market cap 15.98%
Second Best
Warehouse
$1.95M
$1.70M – $2.27M
NOI $136,344 @ 7.0% cap · market cap 10.49%
Theoretical Best
Office A
$8.49M
$7.43M – $9.90M
NOI $594,086 @ 7.0% cap · market cap 45.70%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Current Use
Lease Details
14 ft
Clear height
2
Drive-in doors
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,114
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 60623, IL
87,649
Population
31,300
Households
2.8
Avg Household Size
32
Median Age
14%
College-Educated
69%
High-School Grad
5.4 sq mi
ZIP Area
16,231
Density / Sq Mi
$44,040
Median Household Income
$32,642
Median Earnings
$1,054
Median Rent
$221,400
Median Home Value
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Market
Vacancy Rate% for Industrial in Chicago, IL
Similar Off Market Nearby
- Vitality Food Services — 1823 S Kilbourn Ave, Chicago, IL 60623
Frequently Asked Questions
What type of property is this?
Flex space - Vacant industrial space pairs warehouse capacity with finished offices and central air along Chicago’s Cermak Road corridor.
Where is this flex space located?
The property is located at 4542 W Cermak Road Chicago, IL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 18,000‑square‑foot building with 1,800 square feet of office space; Two grade‑level drive‑in doors and 14‑foot warehouse clear height; 400‑amp three‑phase electrical service and wet sprinkler system
