Industrial Flex Space with Drive-In
For Sale
Contact for pricing
4618 W Fullerton Ave, Chicago, IL 60639
Industrial flex property with tall ceilings, gated rear parking, and supplemental lots for parking or future site use.
Property Size7,500 SF
Price / SF$138.89
Days on Market360
Property Features for 4618 W Fullerton Ave
General Information
Standard status
Active
Size
7,500 SF
Property subtype
OFFICE
Zoning
M1-1
Site & Location
Road Access
Yes
Public Transit
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
12 ft
Drive-In Doors
2
Building Details
Buildings
1
Building Size
7,500 SF
Listing Agency:
Jameson Commercial
(312) 216-8000
Listed By:
Art Collazo · License #475131028
(773) 551-5165
Source:
Moodyscre
Added: Sep 10, 2025
Changed: Aug 31
Last Checked: Sep 4 at 12:18PM
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 Jameson Commercial
Investment Insights
Based on property information with market context.
This industrial flex property combines office and warehouse space with 12-foot ceilings and two rear drive-in doors. Gated parking is located behind the building, with additional parking and indoor vehicle storage options also available. The property includes two additional 24-by-100-foot lots at 2414-2416 N Kenton, totaling 4,800 square feet and zoned B1-1.
The main facility is zoned M1-1 and sits along busy Fullerton Avenue near multiple public transportation options. In 2021, the city approved the facility for boarding and training capacity of 160 dogs. The property is also within a Chicago enterprise zone and TIF district.
The main facility is zoned M1-1 and sits along busy Fullerton Avenue near multiple public transportation options. In 2021, the city approved the facility for boarding and training capacity of 160 dogs. The property is also within a Chicago enterprise zone and TIF district.
Key Highlights
- 12‑foot ceilings and two rear drive‑in doors
- Two additional 24‑by‑100‑foot lots totaling 4,800 square feet
- Main building zoned M1‑1; supplemental lots zoned B1‑1
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$87,469
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,749,380
$1.7M
Cap Rate 7%
$1,249,557
$1.2M
Cap Rate 9%
$971,878
$971.9K
Market Conditions
NOI Build-Up for 7,200 SF
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.
Gross rent
$151.2K $21.00/SF
− Vacancy
−$16.6K −$2.31/SF
EGI
$134.6K $18.69/SF
− OpEx
−$47.1K −$6.54/SF
NOI
$87.5K $12.15/SF
Area
ZIP 60639
Vacancy
11.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,749,380
Cap Rate 7%
$1,249,557
Cap Rate 9%
$971,878
Alternative Uses
Best Use
Office B
$2.42M
$2.12M – $2.82M
NOI $169,325 @ 7.0% cap · market cap 16.93%
Second Best
Flex RnD
$1.25M
$1.09M – $1.46M
NOI $87,469 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office A
$3.18M
$2.79M – $3.71M
NOI $222,843 @ 7.0% cap · market cap 22.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
2
Drive-in doors
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,558
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60639, IL
89,543
Population
28,656
Households
3.1
Avg Household Size
34
Median Age
15%
College-Educated
69%
High-School Grad
5.0 sq mi
ZIP Area
17,909
Density / Sq Mi
$59,710
Median Household Income
$34,846
Median Earnings
$1,212
Median Rent
$289,000
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex property with tall ceilings, gated rear parking, and supplemental lots for parking or future site use.
Where is this flex space located?
The property is located at 4618 W Fullerton Ave Chicago, IL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 12‑foot ceilings and two rear drive‑in doors; Two additional 24‑by‑100‑foot lots totaling 4,800 square feet; Main building zoned M1‑1; supplemental lots zoned B1‑1
