1500 Western Ave Chicago, IL 60608
- Industrial properties
- 474,700 SF
- 2.98 lot acres
Current Use by Public Records
- Nicholas Wolfe / Furniture Store
- Melissa Elias Styling & Design / Art Studio
- Dixon Art Services LLC / Transportation Service
- Aguilar Construction / Construction Company
- Design on the Edge / Interior Decorator / Event Management Company
Property Details for 1500 Western Ave
- Year built
- 1916
- Lot size
- 2.98 lot acres
- Property size
- 474,700 SF
- Property type
- Industrial properties
- APN
- 16-24-224-001
- APU
- 1624224001
Description
The Midland Building presents a significant opportunity for businesses seeking prime industrial space in a highly desirable location. This 500,000 square-foot multi-tenant building offers a blend of warehouse and traditional office space, perfect for distribution and light industrial operations. Situated minutes from Chicago's Loop, the property provides unparalleled access to major Chicagoland expressways, including I-90, I-94, I-290, I-55, I-294, and I-57, ensuring efficient transportation and logistics. The building features a 10-foot ceiling height, four loading docks for convenient freight handling, and 24/7 secure access for peace of mind. On-site management and indoor parking add to the convenience and security offered. Located at 1500 South Western Avenue (2400 West), just three blocks south of the intersection of Ogden and Western Avenues, this property benefits from a strategic location within Cook County, offering easy access to a robust workforce and a thriving market. The building's versatile layout and ample space make it an ideal choice for a variety of businesses seeking a modern and efficient industrial facility in a central location. This is a rare opportunity to secure a substantial footprint in a highly sought-after area.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $905,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,080,000
- 6.5%
- $1,225,000
- 7%
- $1,105,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,100,000
- Geo Method
- $1,115,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,185,000
- Retail
- $1,010,000
- Mixed-Use
- $1,060,000
- Hospitality
- $1,260,000
- Educational
- $1,295,000
- Residential Income
- $1,070,000
- Energy
- $1,120,000
- Income-Based Land
- $1,305,000
- Food Service
- $1,185,000
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.687
- Latitude
- 41.8607
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
