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    1830-1856 Kostner Ave Chicago, IL 60639

    For Sale
    $7,225,000

    Chicago Flex Space - $7.225M

    Property size:
    151,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 151,500 square foot creative office and flex space property, located at 1830-1856 N Kostner Ave in Chicago, IL, presents a compelling investment opportunity. Built in 1910 and renovated in 1960, the property sits on a 4.74-acre lot and boasts a PMD-9 zoning permit. The building features impressive ceiling heights ranging from 12 to 35 feet, seven dock-high doors (three exterior, one interior, and three drive-in doors), and ample parking for 25 vehicles. The property benefits from excellent street exposure on Kostner Avenue and Cortland Street, providing significant visibility. Truck and trailer storage is readily available. Currently, two tenants occupy the space on month-to-month leases, offering immediate income potential and redevelopment flexibility. The property is conveniently located just four miles from the I-90/I-94 interchange. A recent improvement includes a new roof over a section of the building. This property offers a unique blend of existing income and significant redevelopment potential in a prime Chicago location. The property's size, features, and location make it an ideal candidate for a variety of uses. This is a rare opportunity to acquire a substantial industrial/office property with significant upside.

    Property Features for 1830-1856 Kostner Ave

    General Information

    Property type
    Office space
    Square Feet
    151,500 SF
    Lot Size
    206,474 SF

    Building Details

    Year Built/Renovated
    1910/1960

    HighLights

    • High‑profile location with excellent street visibility on Kostner Avenue and Cortland Street.
    • Ample truck and trailer parking available.
    • Significant redevelopment potential.
    • Convenient access to major highways I‑90 and I‑94 (within 4 miles).
    • Two month‑to‑month tenants currently occupy the property.
    • Partial new roof installation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.736417
    Latitude
    41.9144003

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    FAQs

    What type of property is this?
    Office space - Chicago Flex Space - $7.225M
    Where is this office space located?
    The property is located at 1830-1856 Kostner Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $7,225,000.
    What are key features of this property?
    This property features: High-profile location with excellent street visibility on Kostner Avenue and Cortland Street.; Ample truck and trailer parking available.; Significant redevelopment potential.
    Request Owner's contact information
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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
    1830-1856 Kostner Ave Chicago, IL 60639
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