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$10,500,000
Est. payment /mo
63,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 63,000 sqft
Price per Sqft $166
MLS Listing ID 12347282
Year Built 1904
Annual Tax Amount $148,832
Tax Year 2023
Lot Size 2.280 Acres
Lot Dimensions 466X241X375X232
Property Sub-Type Industrial
Property Description
This outstanding industrial/flex property presents a rare adaptive reuse or redevelopment opportunity along the Chicago River, ideally located between Roscoe Village and Avondale. Positioned on 2.28 acres, the site features 250 feet of river frontage and 230 feet along Rockwell Street, with a total of 63,000 square feet across a 4-story and a 1-story masonry building. The property offers excellent functionality with 6 loading docks, 3 drive-in doors, 17-foot clear heights, a 6,000-pound capacity freight elevator, and 100 standard parking spaces. Approximately 4,750 square feet are currently vacant, while existing tenants consist of a mix of small to mid-sized businesses such as photographers, artists, light manufacturers, and office users. All leases include termination clauses, offering flexibility for new ownership. This riverfront site is zoned for cannabis businesses and is situated within a TIF District, Enterprise Zone, and the Chicago River Corridor Development Plan, enhancing its long-term value and potential. Recent upgrades include a new roof (2021) on the 1-story structure, paving completed in 2022, new LED lighting, updated dock doors, and restored exterior walls. Boat docks can be added. Conveniently located next to Metropolis Coffee Company (roastery) and within steps of Guild Row (coworking space) and Tesla (auto service center), the property also provides quick access to the I-90/94 expressway. This is a prime investment in one of Chicago's most dynamic riverfront corridors.
Location
State IL
County Cook
Area Chi - Avondale
Interior
Cooling None
Fireplace N
Building
Dwelling Type Industrial
Level or Stories 4
Structure Type Brick
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Listed by Adam Schneiderman • Strauss Realty Ltd