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    1821 Berteau Ave Chicago, IL 60613

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    For Sale
    Contact for pricing

    18,723 SF Office, Prime Location

    Property size:
    18,723 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This exceptional 18,723-square-foot executive office building, located at 1821 W Berteau Ave in Chicago's desirable Ravenswood neighborhood, presents a unique investment opportunity. Built in 1919 and completely renovated in 2009, this three-story Class B building boasts a modern interior while retaining its character. Currently vacant, the space is ideally suited for a single tenant, featuring loft offices on the first floor and climate-controlled office/production space on the upper two floors. The property benefits from a passenger elevator, video security system, high-tech dry fire suppression systems (second and third floors), one overhead door/exterior dock, and four 400-amp electric service lines. The building's RS-3 zoning, while grandfathered for existing office use, also presents potential for residential redevelopment in this strong residential market. A newer roof (less than 10 years old) and HVAC system further enhance its value. Its convenient location, just blocks from the Montrose and Irving Park Brown Line "L" stations, less than two miles from Lake Shore Drive, and under three miles from I-90/94, provides excellent accessibility. The surrounding area offers a wealth of amenities, including numerous retailers such as Jewel-Osco, Walgreens, CVS, and various restaurants. Proximity to Lake View High School and Wrigley Field adds to its appeal. This property offers a compelling combination of location, functionality, and redevelopment potential.

    Property Features for 1821 Berteau Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    18,723 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1919/2009
    Stories
    3

    HighLights

    • Excellent location at the border of Ravenswood and Lake View neighborhoods.
    • 2009 renovation; newer roof (under 10 years old) and HVAC system.
    • RS‑3 zoning allows for potential residential redevelopment.
    • Features passenger elevator, video security, high‑tech fire suppression (2nd & 3rd floors), one overhead door/dock, and four 400‑amp electric service lines.
    • Conveniently located near Montrose & Irving Park Brown Line "L" stations, Lake Shore Drive, and I‑90/94.
    • Close proximity to Lake View High School and Wrigley Field.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -87.6751829
    Latitude
    41.9575892

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    FAQs

    What type of property is this?
    Office Property / Space - 18,723 SF Office, Prime Location
    Where is this office property / space located?
    The property is located at 1821 Berteau Ave Chicago, IL.
    What are key features of this property?
    This property features: Excellent location at the border of Ravenswood and Lake View neighborhoods.; 2009 renovation; newer roof (under 10 years old) and HVAC system.; RS-3 zoning allows for potential residential redevelopment.
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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
    1821 Berteau Ave Chicago, IL 60613
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