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    2040 Elston Ave Chicago, IL 60614

    For Lease
    $20 SF/Yr ($11,066 /Mo)

    Chicago Creative Office Suites Available

    Lot size:
    6,640 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional two-story, 6,640-square-foot retail and office building, zoned M-3, is ideally located at 2040 N Elston Ave, Chicago, IL 60614, at the crossroads of Elston, Ashland, and Armitage Avenues. The property offers multiple tenancy options, with 3,320 square feet currently vacant and divisible spaces ranging from 1,658 to a maximum contiguous 3,340 square feet. Four spaces are currently available. The building sits on a 4,291-square-foot lot and benefits from convenient access to the Kennedy Expressway via the full Armitage Avenue interchange. Ample parking is available for lease at the adjacent 2020 N Ashland Avenue. The property's strategic location provides unparalleled access to public transportation, with 128 daily train stops at two nearby Metra Clybourn Stations serving Union Pacific North and Northwest lines. Commuters and recreational cyclists will appreciate the adjacent Elston Avenue bike highway and proximity to the 606 Trail. This unique property presents a compelling opportunity for businesses seeking a vibrant and accessible location in Chicago's dynamic north side.

    Property Features for 2040 Elston Ave

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    6,640 SF
    Total Rate
    11066.67

    Building Details

    Stories
    2

    Unit(s) available at that property

    Space
    Available Space 2
    Size
    1,662 SF
    Space
    Available Space 1
    Size
    6,640 SF
    Rate per SF
    $20
    Space
    Available Space 3
    Size
    1,658 SF
    Rate per SF
    $20
    Space
    Available Space 4
    Size
    1,658 SF
    Rate per SF
    $20

    HighLights

    • 6,640‑square‑foot retail/office building in Chicago, IL.
    • M‑3 zoning with 3,320 square feet of divisible vacant space (spaces range from 1,658 to 3,340 square feet).
    • Located at 2040 N Elston Ave, at the intersection of Elston, Ashland, and Armitage Avenues.
    • 4,291‑square‑foot lot with convenient Kennedy Expressway access via Armitage Avenue.
    • Ample parking available for lease at 2020 N Ashland Avenue.
    • Excellent public transportation access via nearby Metra Clybourn stations and adjacent bike path/606 Trail.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Chicago Actors Studio Video Production Service Silver Screen Services Video Production Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.668431567939
    Latitude
    41.918752697113

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    FAQs

    What type of property is this?
    Office space - Chicago Creative Office Suites Available
    Where is this office space located?
    The property is located at 2040 Elston Ave Chicago, IL.
    What is the lease rate?
    The lease rate is $0.00-$20 SF/Yr.
    What are key features of this property?
    This property features: 6,640-square-foot retail/office building in Chicago, IL.; M-3 zoning with 3,320 square feet of divisible vacant space (spaces range from 1,658 to 3,340 square feet).; Located at 2040 N Elston Ave, at the intersection of Elston, Ashland, and Armitage Avenues.
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    Chicago, IL 60614
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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
    2040 Elston Ave Chicago, IL 60614
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