Property profile

2537 S Wabash Ave Chicago, IL 60616

FOR LEASE
Industrial properties
Property ID
US28-5688155
39,400 SF 0.49 ac lot Built 1895
Entity Owned 7-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This 250-square-foot Class B commercial kitchen, located at 2537 S Wabash Ave in Chicago, IL (zip code 60616, Cook County), is perfect for a single-tenant operation. Ideal for various food businesses, including startups, personal chefs, caterers, food trucks, single-location restaurants, or expanding national chains. The property is a turnkey solution, designed for efficient and affordable operation, minimizing overhead costs and maximizing profitability. This retail/restaurant space offers a prime location within a high-demand delivery area, providing immediate access to a large customer base. The kitchen is designed to streamline operations, allowing for efficient food preparation and service. This is a fantastic opportunity to establish or expand a food-related business in a thriving Chicago neighborhood. The property is a single-tenant space, providing exclusive use of the kitchen facilities. This location offers significant potential for growth and success in the competitive food industry. The address is easily accessible for both customers and delivery services. This is a rare opportunity to secure a well-located, efficient, and affordable commercial kitchen space in a bustling Chicago market.

Property profile

Verified
Property type Industrial properties
Use group INDUSTRIAL (GENERAL)
Year built 1895
Total area 39,400 SF
Lot 0.49 ac (21,552 SF)
APN 17-27-123-011
UPID US28-5688155

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant
  • Restaurant
  • Take-out & Catering
  • Bakery Take-out & Catering
  • Bakery Specialty Food Shop

Location

2537 S Wabash Ave Chicago, IL 60616
Chicago metro Census 841000 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$490k

Owner & transaction history

since 2018
4 recorded transactions
2018
$1.8M
2006
$600,000
2000
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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