Chicago Flex/Industrial Property For
For Sale
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1830-1856 N Kostner Ave, Chicago, IL 60639
Flex/Industrial property available for sale in Chicago, Illinois.
Property Size151,500 SF
Price / SF$47.69
Days on Market685
Property Features for 1830-1856 N Kostner Ave
General Information
Standard status
Active
Size
151,500 SF
Class
C
Total Parking Spaces
25
Property subtype
Industrial
Zoning
PMD-9
Building Details
Year Built
1910
Year Renovated
1960
Listing Agency:
Lee & Associates - Chicago
Listed By:
Rick Anesi · License #IL 475127146
(773) 355-3043
Source:
Crexi
Added: Nov 19, 2024
Changed: Oct 3
Last Checked: Oct 4 at 8:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates - Chicago
Investment Insights
Based on property information with market context.
This commercial real estate offering consists of a flex space and industrial property, also suitable for warehouse and office use. The property encompasses a total area of 151500 square feet. It is located in Chicago, Illinois.
Key Highlights
- Historic Charm: Built in 1910, offering unique character and architectural details.
- Established Property: Provides a sense of history and potential for renovation.
- Potential Investment: Opportunity to own a property with historical significance.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$592,370
Cap Rate
8.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,847,400
$11.8M
Cap Rate 7%
$8,462,429
$8.5M
Cap Rate 9%
$6,581,889
$6.6M
Market Conditions
NOI Build-Up for 151,500 SF
Gross rent
$981.7K $6.48/SF
− Vacancy
−$135.5K −$0.89/SF
EGI
$846.2K $5.59/SF
− OpEx
−$253.9K −$1.68/SF
NOI
$592.4K $3.91/SF
Area
ZIP 60639
Vacancy
13.80%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,847,400
Cap Rate 7%
$8,462,429
Cap Rate 9%
$6,581,889
Alternative Uses
Best Use
Flex RnD
$26.29M
$23.01M – $30.67M
NOI $1,840,498 @ 7.0% cap · market cap 25.47%
Second Best
Industrial
$8.46M
$7.40M – $9.87M
NOI $592,370 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$66.99M
$58.61M – $78.15M
NOI $4,688,986 @ 7.0% cap · market cap 64.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,433
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60639, IL
89,543
Population
28,656
Households
3.1
Avg Household Size
34
Median Age
15%
College-Educated
69%
High-School Grad
5.0 sq mi
ZIP Area
17,909
Density / Sq Mi
$59,710
Median Household Income
$34,846
Median Earnings
$1,212
Median Rent
$289,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Flex space - Flex/Industrial property available for sale in Chicago, Illinois.
Where is this flex space located?
The property is located at 1830-1856 N 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: Historic Charm: Built in 1910, offering unique character and architectural details.; Established Property: Provides a sense of history and potential for renovation.; Potential Investment: Opportunity to own a property with historical significance.
