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    1500 Western Ave Chicago, IL 60608

    Sponsored
    For Lease
    $7 SF/Yr

    Multi-tenant warehouse near downtown Chicago.

    Lot size:
    500,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    The Midland Building presents a significant opportunity for businesses seeking prime industrial space in a highly desirable location. This 500,000 square-foot multi-tenant building offers a blend of warehouse and traditional office space, perfect for distribution and light industrial operations. Situated minutes from Chicago's Loop, the property provides unparalleled access to major Chicagoland expressways, including I-90, I-94, I-290, I-55, I-294, and I-57, ensuring efficient transportation and logistics. The building features a 10-foot ceiling height, four loading docks for convenient freight handling, and 24/7 secure access for peace of mind. On-site management and indoor parking add to the convenience and security offered. Located at 1500 South Western Avenue (2400 West), just three blocks south of the intersection of Ogden and Western Avenues, this property benefits from a strategic location within Cook County, offering easy access to a robust workforce and a thriving market. The building's versatile layout and ample space make it an ideal choice for a variety of businesses seeking a modern and efficient industrial facility in a central location. This is a rare opportunity to secure a substantial footprint in a highly sought-after area.

    Property Features for 1500 Western Ave

    General Information

    Property type
    Distribution properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    500,000 SF
    Total Rate
    291666.67

    Unit(s) available at that property

    Space
    1AN3
    Size
    1,292 SF
    Rate per SF
    $12
    Space
    Size
    9,748 SF
    Rate per SF
    $7

    HighLights

    • 500,000 square foot multi‑tenant industrial building.
    • Located minutes from Chicago's Loop and major expressways (I‑90, I‑94, I‑290, I‑55, I‑294, I‑57).
    • Features 24/7 secure access and on‑site management.
    • Offers 10' ceiling height and 4 loading docks.
    • Located in Cook County.
    Property Profile Location Intelligence

    Current Use by Public Records

    Nicholas Wolfe Furniture Store Melissa Elias Styling ... Art Studio Dixon Art Services ... Transportation Service Aguilar Construction Construction Company Design on the Edge Interior Decorator

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store 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
    -87.68595429
    Latitude
    41.86103757

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    FAQs

    What type of property is this?
    Distribution property - Multi-tenant warehouse near downtown Chicago.
    Where is this distribution property located?
    The property is located at 1500 Western Ave Chicago, IL.
    What is the lease rate?
    The lease rate is $7-$12 SF/Yr.
    What are key features of this property?
    This property features: 500,000 square foot multi-tenant industrial building.; Located minutes from Chicago's Loop and major expressways (I-90, I-94, I-290, I-55, I-294, I-57).; Features 24/7 secure access and on-site management.
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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
    1500 Western Ave Chicago, IL 60608
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