615 California AveChicago, IL 60612

This exceptional 26,000-square-foot industrial property, located at 615 S. California Ave in Chicago, IL 60612, presents a compelling investment opportunity. The property boasts a prime location, offering immediate access to I-290 and proximity to the Central Business District, West Loop, and Illinois Medical District. Currently configured as a multi-tenant flex/warehouse space, it features a mix of office and warehouse areas. A significant portion, 15,000 square feet, will become available for occupancy in July 2024. The building includes valuable features for industrial users, such as a 5-ton crane, one drive-in door, a short dock suitable for straight trucks, and gated off-street parking. The property sits on a 0.84-acre lot and has a 7.00% cap rate. The current lease is a modified multi-tenant agreement with one tenant, expiring April 30, 2028, leaving a remaining lease term of approximately 3.4 years. The current occupancy rate is 42%. This presents a unique chance to acquire a well-situated industrial property with significant upside potential in a thriving Chicago market. The property's strategic location and functional features make it an ideal investment for both owner-occupiers and investors seeking strong returns. The property consists of two units.