Building Details

Year Built 1955

Listing Agency: Jameson Commercial Show Phone

Listed By: Jason P. Hiller · License #475158547 Show Phone

Source: Moodyscre

Added: Jul 23, 2025 Changed: Oct 11 Last Checked: Oct 12 at 9:03PM

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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 6,250-square-foot flex property at 5243 W Diversey Ave combines adaptable industrial space with a divisible layout. The building dates to 1955 and features 12-foot bow truss ceilings in good condition, supporting a range of operational configurations.

The property includes access to a fully equipped woodshop, with woodshop equipment and supplies available for separate purchase. Located in Chicago, the facility offers a combination of flexible space and specialized workspace features.

Key Highlights

• 6,250 SF industrial/flex space
• Divisible layout for adaptable business configurations
• 12' bow truss ceilings

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$29,674

Cap Rate

6.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$593,480 $593.5K

Cap Rate 7%

$423,914 $423.9K

Cap Rate 9%

$329,711 $329.7K

Market Conditions

NOI Build-Up for 6,250 SF

Gross rent

$40.5K $6.48/SF

− Vacancy

−$5.6K −$0.89/SF

EGI

$34.9K $5.59/SF

− OpEx

−$5.2K −$0.84/SF

NOI

$29.7K $4.75/SF

Area

ZIP 60639

Vacancy

13.80%

Lease Rate

$6.48 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$593,480

Cap Rate 7%

$423,914

Cap Rate 9%

$329,711

Alternative Uses

Best Use

Flex RnD

$1.08M

$949.1K – $1.27M (±1% cap)

NOI $75,928 @ 7.0% cap · market cap 15.50%

Second Best

Warehouse

$423.9K

$370.9K – $494.6K (±1% cap)

NOI $29,674 @ 7.0% cap · market cap 6.06%

Theoretical Best

Office A

$2.76M

$2.42M – $3.22M (±1% cap)

NOI $193,440 @ 7.0% cap · market cap 39.48%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Exclusive Hair Studios Barber Shop

Suggested Use

Top Pick Law Firm Acupuncture Garden Center Catering Service Skin Care Clinic Tech Support Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

12 ft

Clear height

Location Intelligence

Trade Area within ½ mile

2,071

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 Industrial in Chicago, IL

4.9% 2019

5.4% 2020

4% 2021

3.3% 2022

4.5% 2023

4.5% 2024

4.7% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Adaptable industrial space includes bow truss ceilings and access to a fully equipped on-site woodshop.

Where is this flex space located?

The property is located at 5243 W Diversey Ave Chicago, IL.

What is the asking price?

The asking price for this property is $490,000.

What are key features of this property?

This property features: 6,250 SF industrial/flex space; Divisible layout for adaptable business configurations; 12' bow truss ceilings