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    431 Wolcott Ave Chicago, IL 60622

    Sponsored
    For Sale
    $2,950,000

    Chicago Office Building - 28,442 SF, Vacant

    Property size:
    28,442 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    This exceptional 28,442-square-foot executive office building, located at 431 N Wolcott Ave in Chicago's Kinzie Corridor (Cook County, IL 60622), presents a unique investment opportunity. Priced at $2,950,000 ($103.72/sq ft), the property is currently vacant, offering immediate occupancy for a discerning buyer. The building boasts attractive masonry and timber loft construction, showcasing exposed columns and beams, creating a unique and desirable aesthetic. The expansive 26,456-square-foot lot allows for significant potential. A notable feature is the ability to expand the building by approximately 6,000 square feet by adding exterior walls to two lower rooftop areas, providing substantial future growth opportunities. On-site parking accommodates 33 vehicles in an attached lot. The property's prime location near the West Loop and Fulton Market District offers excellent accessibility and visibility. Furthermore, the potential for abundant outdoor space and multiple roof decks adds significant value. The property is conveniently situated just 0.3 miles from a new CTA Green Line station currently under construction at Lake and Damen, enhancing its accessibility and appeal. The property's APN is 17-07-237-038-0000 and is zoned PMD-4.

    Property Features for 431 Wolcott Ave

    General Information

    Property type
    Office buildings
    Square Feet
    28,442 SF

    HighLights

    • Masonry and timber loft construction with exposed columns and beams.
    • ±6,000 SF expansion potential via rooftop additions.
    • Prime West Loop/Fulton Market location.
    • 33‑car attached parking lot.
    • Potential for significant outdoor space and multiple roof decks.
    • 0.3 miles from the new Lake & Damen CTA Green Line station.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6742503
    Latitude
    41.8896569

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    FAQs

    What type of property is this?
    Office building - Chicago Office Building - 28,442 SF, Vacant
    Where is this office building located?
    The property is located at 431 Wolcott Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $2,950,000.
    What are key features of this property?
    This property features: Masonry and timber loft construction with exposed columns and beams.; ±6,000 SF expansion potential via rooftop additions.; Prime West Loop/Fulton Market location.
    (312) 275-3113
    Request Owner's contact information
    431 Wolcott Ave Chicago, IL 60622
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    Chicago, IL 60622
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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
    431 Wolcott Ave Chicago, IL 60622
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