3850 Cortland St Chicago, IL 60647

This exceptional investment opportunity presents a 147,000 square foot, multi-tenant industrial/flex building situated on a 48,221 square foot lot in Chicago's desirable Logan Square neighborhood. The property, built in 1965 with various renovations, features one two-story building with 30 units and boasts a substantial net operating income. The sale includes the ability to cancel existing leases, offering flexibility for re-tenanting or repositioning. Key features include four interior loading docks with four dock-high doors, six drive-in doors, a 10,000 lb freight elevator, recently updated utilities, and high ceilings (14-16 feet). The property benefits from 488 feet of frontage on Springfield Avenue and enjoys convenient access to CTA and Metra transit, major highways, and truck routes. Its prime location is steps from the 606 Trail and nearby schools. Potential incentives include TIF, Enterprise Zone, Underserved Area (EDGE), and HubZone programs. The property is zoned M1-1. This offering presents a compelling value-add/redevelopment opportunity with significant upside potential. The building's masonry construction, large windows/skylights, and recent renovations (including exterior tuckpointing, sandblasting, and sealing) enhance its appeal. Many units feature recent build-outs (2017-present) with updated amenities such as LED lighting, circuit breaker boxes, and HVAC systems. Planned upgrades include sub-metering electric service and new common area bathrooms. The asking price is $7,500,000.