Flex Building with Drive-In
4591 N Elston Avenue, Chicago, IL 60630
For Sale
$370,000
Open interior space, two bathrooms and a rear garage door support a range of commercial configurations.
Property Size1,875 SF
Lot Size0.07 Acres
Price / SF$197.33
Days on Market188
Property Features for 4591 N Elston Avenue
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Frontage
Road Access
Additional Details
Drive-In Doors
Taxes and HOA fees
Annual Taxes
Amenities
skylights
12 foot ceilings
new HVAC system
epoxy floors
garage door
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Cross Street Real Estate
Listed By:
Erin Feinerman
(312) 312-9844
Source:
Gogginrealestate
Added: May 6
Changed: Nov 7
Last Checked: Nov 8 at 7:32PM
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 Cross Street Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,875-square-foot flex building sits on a 3,125-square-foot lot and dates to 1979. Its open interior includes two bathrooms, 12-foot ceilings and skylights. Recent improvements include a new roof-package HVAC system and epoxy-finished floors. A drive-in garage door is located at the rear, with parking space also available on site.
The property fronts Elston Avenue, with 25 feet of frontage. It is located near the highway and the Montrose Blue Line station. Retail, restaurant, warehouse, gym, studio and office uses are identified for the space.
The property fronts Elston Avenue, with 25 feet of frontage. It is located near the highway and the Montrose Blue Line station. Retail, restaurant, warehouse, gym, studio and office uses are identified for the space.
Key Highlights
- 1,875‑square‑foot flex building on a 3,125‑square‑foot lot
- 25 feet of frontage along Elston Avenue
- Open interior with two bathrooms and 12‑foot ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,940
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$518,800
$518.8K
Cap Rate 7%
$370,571
$370.6K
Cap Rate 9%
$288,222
$288.2K
Market Conditions
NOI Build-Up for 1,875 SF
Gross rent
$40.5K $21.60/SF
− Vacancy
−$3.4K −$1.84/SF
EGI
$37.1K $19.76/SF
− OpEx
−$11.1K −$5.93/SF
NOI
$25.9K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$518,800
Cap Rate 7%
$370,571
Cap Rate 9%
$288,222
Alternative Uses
Best Use
Retail
$370.6K
$324.3K – $432.3K
NOI $25,940 @ 7.0% cap · market cap 7.01%
Second Best
Flex RnD
$309.2K
$270.6K – $360.8K
NOI $21,645 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$884.1K
$773.6K – $1.03M
NOI $61,884 @ 7.0% cap · market cap 16.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,923
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60630, IL
54,064
Population
23,393
Households
2.3
Avg Household Size
40
Median Age
44%
College-Educated
91%
High-School Grad
4.7 sq mi
ZIP Area
11,503
Density / Sq Mi
$97,134
Median Household Income
$54,576
Median Earnings
$1,357
Median Rent
$362,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Flex space in Chicago, IL
Properties on Market for Flex space in Chicago
Vacancy Rate% for Industrial in Chicago, IL
Similar Off Market Nearby
- T&W Solutions LLC — 4042 N Pulaski Rd STE 1, Chicago, IL 60641
- Wisepak Foods LLC — 4225 N Pulaski Rd, Chicago, IL 60641
- letuscater — 4425 W Montrose Ave # 7, Chicago, IL 60641
- Chef Rafael & Son's Restaurant — 3816 W Montrose Ave, Chicago, IL 60618
- Los Nuevos Chefs del Sabor — 3816 w montrose ave, chicago, il 60618
Frequently Asked Questions
What type of property is this?
Flex space - Open interior space, two bathrooms and a rear garage door support a range of commercial configurations.
Where is this flex space located?
The property is located at 4591 N Elston Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: 1,875‑square‑foot flex building on a 3,125‑square‑foot lot; 25 feet of frontage along Elston Avenue; Open interior with two bathrooms and 12‑foot ceilings
