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    3021 Elston Ave Chicago, IL 60618

    For Sale
    Contact for pricing

    Three-building flex industrial portfolio; vacant, value-add opportunity.

    Property size:
    33,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a portfolio of three flex-industrial buildings totaling 33,000 square feet, strategically located in Chicago's desirable Elston Corridor at 3021 N Elston Ave and two neighboring addresses. The property is currently vacant, offering a value-add opportunity for investors seeking to capitalize on the strong demand for industrial space in this prime location. The buildings feature a combined two stories, with a permitted M-1 zoning classification. Each building offers convenient access with four dock-high doors and one loading dock. High ceilings, measuring 18 feet, provide ample vertical space for various industrial uses. The portfolio is available for sale or lease, either as a single package or individually, allowing for flexibility in acquisition strategies. The Elston Corridor boasts a vibrant mix of established businesses, including Tesla, Metropolitan Brewery, and Thattu restaurant, creating a dynamic and attractive environment for tenants. This location provides excellent access to major transportation arteries and downtown Chicago, enhancing its appeal to a wide range of potential users. The property's characteristics make it suitable for a variety of industrial and flex uses, presenting a compelling investment prospect in a thriving market. The triple net (NNN) lease structure offers investors a straightforward and efficient ownership model.

    Property Features for 3021 Elston Ave

    General Information

    Property type
    Flex space
    Square Feet
    33,000 SF

    Building Details

    Buildings
    3
    Stories
    2

    HighLights

    • 33,000 SF flex industrial portfolio for sale or lease in Chicago, IL.
    • Located at 3021 N Elston Ave, Chicago, IL 60618.
    • Three buildings totaling 33,000 square feet, two stories each, with 18' ceilings.
    • Property zoned M‑1, with one loading dock and four dock‑high doors.
    • NNN lease type, currently vacant, and offers a value‑add investment opportunity.
    • Broker co‑op available.
    Property Profile Insight Report 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
    -87.693347
    Latitude
    41.936343

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    FAQs

    What type of property is this?
    Flex space - Three-building flex industrial portfolio; vacant, value-add opportunity.
    Where is this flex space located?
    The property is located at 3021 Elston Ave Chicago, IL.
    What are key features of this property?
    This property features: 33,000 SF flex industrial portfolio for sale or lease in Chicago, IL.; Located at 3021 N Elston Ave, Chicago, IL 60618.; Three buildings totaling 33,000 square feet, two stories each, with 18' ceilings.
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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
    3021 Elston Ave Chicago, IL 60618
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