For Sale
Call for price

615 California AveChicago, IL 60612

26,000 SF Flex Space, I-290 Access

Overview

Added:
Dec 11, 2024
Days on market:
118
This exceptional 26,000-square-foot industrial property, located at 615 S. California Ave in Chicago, IL 60612, presents a compelling investment opportunity. The property boasts a prime location, offering immediate access to I-290 and proximity to the Central Business District, West Loop, and Illinois Medical District. Currently configured as a multi-tenant flex/warehouse space, it features a mix of office and warehouse areas. A significant portion, 15,000 square feet, will become available for occupancy in July 2024. The building includes valuable features for industrial users, such as a 5-ton crane, one drive-in door, a short dock suitable for straight trucks, and gated off-street parking. The property sits on a 0.84-acre lot and has a 7.00% cap rate. The current lease is a modified multi-tenant agreement with one tenant, expiring April 30, 2028, leaving a remaining lease term of approximately 3.4 years. The current occupancy rate is 42%. This presents a unique chance to acquire a well-situated industrial property with significant upside potential in a thriving Chicago market. The property's strategic location and functional features make it an ideal investment for both owner-occupiers and investors seeking strong returns. The property consists of two units.

Highlights

  • 26,000 SF warehouse ideally situated near I-290, minutes from the Central Business District, West Loop, and Illinois Medical District.
  • 15,000 SF of office/warehouse space available July 2024.
  • Features include a 5-ton crane, one drive-in door, a short dock, and gated off-street parking.

Property Details for 615 California Ave

Property type
Warehouses, Industrial properties
Square Feet
26,000 SF
Lot Size (sq. ft)
36,590 SF
Units
2

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.872917987332
Longitude
-87.696052412968
615 California Ave, Chicago, Illinois

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
615 California Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message