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    1616 Glenlake Ave Chicago, IL 60660

    Sponsored
    For Sale
    $1,375,000

    10,400 SF Flex Space, Prime Location

    Property size:
    10,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 10,400-square-foot industrial flex space, located at 1616 W Glenlake Ave in Chicago's Edgewater neighborhood (zip code 60660), presents a unique investment opportunity. The single-story building boasts 12-14 foot ceilings and sits on a sizable 14,700-square-foot lot, zoned B3-2. Currently vacant with an occupancy date of October 9, 2024, this property is ideal for a variety of uses, including light industrial, warehouse, and distribution operations. Its former use as a printing shop also makes it suitable for commercial or residential redevelopment. The property benefits from its strategic location, offering excellent access to Lake Shore Drive and public transportation. The surrounding area boasts a strong daytime population of 31,870 and a median household income within 1.5 miles of $59,545, indicating a robust market. High traffic volume, with nearly 20,000 vehicles passing daily on nearby Clark Street, further enhances its commercial viability. This is a rare chance to acquire a centrally located property in a thriving North Side neighborhood. The asking price is $1,375,000.

    Property Features for 1616 Glenlake Ave

    General Information

    Property type
    Distribution properties
    Square Feet
    10,400 SF

    Building Details

    Stories
    1

    HighLights

    • 10,400 SF building on approximately 14,700 SF lot.
    • 12‑14 ft. high ceilings.
    • Flex space suitable for office or light industrial use.
    • Single‑story building.
    • Redevelopment potential.
    • B3‑2 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6709663
    Latitude
    41.9929646

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    FAQs

    What type of property is this?
    Distribution property - 10,400 SF Flex Space, Prime Location
    Where is this distribution property located?
    The property is located at 1616 Glenlake Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,375,000.
    What are key features of this property?
    This property features: 10,400 SF building on approximately 14,700 SF lot.; 12-14 ft. high ceilings.; Flex space suitable for office or light industrial use.
    Request Owner's contact information
    1616 Glenlake Ave Chicago, IL 60660
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1616 Glenlake Ave Chicago, IL 60660
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