Freestanding Flex
For Sale
$1,635,000
5660 N Elston Avenue, Chicago, IL 60646
Commercial Sale, Chicago, IL
Property Size13,875 SF
Lot Size0.34 Acres
Price / SF$117.84
Days on Market49
Property Features for 5660 N Elston Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
On Elston Ave, two blocks North of W. Bryn Mawr Ave.
Subdivision
CHI - Jefferson Park
Standard status
Active
APN
13143090090000
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
53555
Utilities
Utilities
Natural Gas Available
Cooling system
Central Air, Other (Cooling)
Amenities
Security system
Building Details
Year built
1965
Floors in Building
1
Building materials
Brick, Steel Siding
Roof type
Membrane
Listing Agency:
Jameson Sotheby's Intl Realty
(312) 751-0300
Listed By:
John Stocco · License #475194059
(312) 335-3291
Added: Aug 18
Changed: Sep 12
Last Checked: Oct 5 at 8:06PM
MLS# 12736018
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.
This freestanding flex property combines approximately 2,000 SF of remodeled office area with an industrial workspace. The office component includes three private offices, a conference room, kitchen, two bathrooms—one with a shower—and an open work area configured with five modular workstations. Warehouse features include 14-foot clear height, 30-by-30-foot bays, a drive-in door, and a full-size interior dock.
Building systems include new HVAC units, LED lighting, an alarm system with security cameras, a sprinkler system, 400-amp, 3-phase power, central air conditioning in the office, and gas unit heat in the warehouse. The property occupies 0.34 acres and includes eight perimeter parking spaces. Access to I-90 and I-94 is available, with public transportation along Elston Avenue. Brick and steel siding, a membrane roof, and a 1965 construction year complete the physical profile.
Building systems include new HVAC units, LED lighting, an alarm system with security cameras, a sprinkler system, 400-amp, 3-phase power, central air conditioning in the office, and gas unit heat in the warehouse. The property occupies 0.34 acres and includes eight perimeter parking spaces. Access to I-90 and I-94 is available, with public transportation along Elston Avenue. Brick and steel siding, a membrane roof, and a 1965 construction year complete the physical profile.
Key Highlights
- Approximately 2,000 SF of newly remodeled office space
- 14' clear ceiling height with 30' x 30' industrial bays
- One drive‑in door and one full‑size interior dock
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,098
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,101,960
$2.1M
Cap Rate 7%
$1,501,400
$1.5M
Cap Rate 9%
$1,167,756
$1.2M
Market Conditions
NOI Build-Up for 13,875 SF
Gross rent
$130.8K $9.43/SF
− Vacancy
−$7.2K −$0.52/SF
EGI
$123.6K $8.91/SF
− OpEx
−$18.5K −$1.34/SF
NOI
$105.1K $7.57/SF
Area
Chicago, IL
Vacancy
5.50%
Lease Rate
$9.43 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,101,960
Cap Rate 7%
$1,501,400
Cap Rate 9%
$1,167,756
Alternative Uses
Best Use
Office B
$4.25M
$3.72M – $4.96M
NOI $297,702 @ 7.0% cap · market cap 18.21%
Second Best
Flex RnD
$2.29M
$2.00M – $2.67M
NOI $160,173 @ 7.0% cap · market cap 9.80%
Theoretical Best
Office A
$6.54M
$5.72M – $7.63M
NOI $457,942 @ 7.0% cap · market cap 28.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14 ft
Clear height
1
Dock-high doors
1
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
991
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60646, IL
28,383
Population
11,636
Households
2.4
Avg Household Size
44
Median Age
58%
College-Educated
95%
High-School Grad
4.4 sq mi
ZIP Area
6,451
Density / Sq Mi
$111,115
Median Household Income
$66,105
Median Earnings
$1,241
Median Rent
$493,600
Median Home Value
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Market
Vacancy Rate% for Office in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Flex space - Freestanding industrial and office property with remodeled administrative space, warehouse improvements, loading access, and perimeter parking.
Where is this flex space located?
The property is located at 5660 N Elston Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,635,000.
What are key features of this property?
This property features: Approximately 2,000 SF of newly remodeled office space; 14' clear ceiling height with 30' x 30' industrial bays; One drive‑in door and one full‑size interior dock
