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    3621-3651 Western Ave Chicago, IL 60618

    For Lease
    $55 SF/Yr

    Downtown North, 9,516 SF, High Visibility

    Lot size:
    9,516 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 9,516-square-foot commercial property, located at 3621-3651 N. Western Avenue in Chicago's Downtown North submarket (Cook County, IL, zip code 60618), offers a unique opportunity for businesses seeking flexible and high-profile office space. The single-story building features multiple suites, with a minimum divisible space of 2,158 square feet and a maximum contiguous space of 3,818 square feet. Currently, the entire 9,516 square feet is vacant, presenting a rare chance to customize the space to meet specific needs. The property is classified as Retail, Office, and is further subtyped as Executive Office, Coworking, and Creative Office, making it suitable for a variety of businesses. The building boasts excellent visibility due to its location on a heavily trafficked section of Western Avenue, north of Addison Avenue, benefiting from strong daytime and evening traffic. A significant advantage is the availability of 54 surface parking spaces, a rare commodity in Chicago. The property is easily accessible, situated at 41.947792 latitude and -87.687965 longitude. While there are three total suites, there are no elevators. This presents a unique opportunity to establish a prominent presence in a desirable Chicago location.

    Property Features for 3621-3651 Western Ave

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    9,516 SF
    Total Rate
    43615

    Building Details

    Stories
    1

    Unit(s) available at that property

    Space
    Suite 3649
    Size
    3,540 SF
    Rate per SF
    $55
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.687965
    Latitude
    41.947792

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    FAQs

    What type of property is this?
    Office space - Downtown North, 9,516 SF, High Visibility
    Where is this office space located?
    The property is located at 3621-3651 Western Ave Chicago, IL.
    What is the lease rate?
    The lease rate is $55 SF/Yr.
    Request Owner's contact information
    3621-3651 Western Ave Chicago, IL 60618
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    Chicago, IL 60618
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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
    3621-3651 Western Ave Chicago, IL 60618
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