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Property profile & analytics
OFF-MARKET
Estimated value
$4,145,000
Warehouses
2950 Western Ave, Chicago, IL 60618-8021
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US28-1704619
Property summary
AI-generated overview
This exceptional industrial property at 2950 N. Western Ave in Chicago, IL, offers a diverse range of flexible spaces ideal for manufacturing and warehousing operations. Located in Cook County, this property boasts a total of 143,148 square feet, with 46,744 square feet currently vacant and available for lease. Multiple tenancy options are available, ranging from a minimum of 1,455 square feet to a maximum contiguous space of 23,524 square feet, catering to businesses of various sizes. The building features impressive 12'9" clear ceiling heights (22'10" to deck), providing ample vertical space for storage and operations. Efficient loading and unloading are facilitated by nine dock-high doors and four drive-in doors. Ample parking is provided with 132 spaces available on-site. The property is zoned M2-3, and its location in Chicago, IL, zip code 60618, offers excellent access to transportation networks and a robust workforce. This is a prime opportunity to secure high-quality industrial space in a strategic location. Contact us today to learn more about leasing options and explore the possibilities for your business.
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1957
Total area
171,800 SF
Lot
5.09 ac (221,720 SF)
APN
13-25-222-010
UPID
US28-1704619
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Chicago Custom Metal Signs (Bike/Boat/Book/etc) Store Printing Service
-
Chicago Roofers and Roofing Contractors Roofing Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.15M
Owner & transaction history
2950 Western LLC · 2 yrs held
2950 Western LLC
since 2023
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Chicago submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chicago submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$6,325,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$4.15M
Range $3.73M – $4.56M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$24 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$295,438
Tax year 2022
Assessed value
$1,431,498
Assessed 2022
Previous assessed
$1,431,498
+0.0% YoY
Effective rate
20.64%
On assessed value
Assessed land
$581,655
Assessed improvement
$849,843
Land market value
$2,326,620
Improvement market value
$3,399,372
Total market value
$5,725,992
Applied tax rate
77,140.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1957
Heating
NONE
Stories
2
Total area
171,800 SF
Lot
5.09 ac (221,720 SF)
APN
13-25-222-010
UPID
US28-1704619
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL)
Est. value
$6.3M
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1957
Heating
NONE
Stories
2
Lot
5.09 ac
Current owner
From public records · entity-resolved
2950 Western LLC
Entity
Mailing address
7300 N CICERO AVE STE #201, LINCOLNWOOD, IL 60712-1695
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2025
—
2950 Western LLC
—
Deed
related
$12,000,000 · Wintrust Bank NA
Oct 23, 2023
—
2950 Western LLC
Jesus People USA Full Gospel Minist
Special Warranty Deed
$9,900,000 · Tbk Bank Ssb
Nov 4, 2022
—
Jesus People U S A Full Gospel Mini
—
Deed
related
$1,750,000 · National Covenant Properties
Feb 7, 2018
—
Jesus People USA Full Gospel M
—
Loan Modification
related
$1,750,000 · National Covenant Props
—
—
Jesus People USA Full Gospel M
—
Loan Modification
related
$4,387,651 · Bridgeview Bk
—
—
Jesus People USA Full Gospel
—
Deed Of Trust
related
$250,000 · Uptown National Bank Chicago
—
—
People USA Full Gospel M Jesus
—
Deed Of Trust
related
$450,000 · Bridgeview Bank Group
—
—
People USA Full Gospel M Jesus
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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