Listed by Strauss Realty
$14,000,000
The West Hub
Details
Property Type Industrial, Land
Sub Type Flex, Warehouse
Net Rentable (SqFt) 274,550
Buildings 2
Stories 6
Acreage 0.34 - 1.82
Zoning PMD-4
Investment Type Value Add
Ceiling Height 10’-13’
Loading Docks 14
Industrial
Marketing description
For Sale
Investment highlights
- Total Gross Building Area (GBA): ±274,550 SF; ±229,235 SF Above Grade; ±45,315 SF Below Grade
- Total # of Floors: 6 Above Grade (East Building); 5 Above Grade (West Building); Full English Basement, Partially Below Grade
- Total Land Area: ±78,523 SF Main Site (1.82 Acres); ±14,420 SF North Side of Hubbard (.34 Acres)
- Zoning: PMD-4
- Submarket: Kinzie Corridor
- Neighborhood: West Town
- Ward: 27th Ward/ Ald. Walter Burnett Jr.
- Construction: Concrete and Timber Loft
- Buildings Description: Eastern Building—±108,290 SF Total
- ±93,645 SF Above Grade
- ±14,645 SF Below Grade
- Western Building– ±166,260 SF Total
- ±135,590 SF Above Grade
- ±30,670 SF Below Grade
- # of Docks: 14 Exterior Truck-Level Docks
- Fully Sprinklered: Yes
- Ceiling Height: 10’-13’
- Elevators: 3 Freight Elevators; 1 Passenger Elevator
- Stairwells: 4 Enclosed Stairwells
- Floor Loads: 100-200 LBS per Sq. Ft. Eastern Building; 150-200 LBS per Sq. Ft. Western Building
- Power: 600 amp, 120/240V—3 Phase
- Parking: Large courtyard parking lot with additional 0.33 acres surface lot
- Recent Major Building Capital Expenditures:-
- 2016 - New Tear Off Flat Roof for Hubbard Building; Repair Plywood; Install two layers of 2.6” Poly Iso insulation; 60 Mil. TPO Membrane; Install flashing
- 2021 - Freight elevator repairs
- Heating: Boiler & Steel Heat Exchangers
- Value-add Opportunity:-
- Replacement costs
- Flexible floor plans
- Add a rooftop-deck with skyline views
- Redevelopment Incentives: Enterprise Zone 4Chicago PACE Program Kinzie Industrial TIF
- Zoning allows for a variety of uses for redevelopment including flex, industrial or office
- Kinzie Corridor TIF District
- 4 Existing and 2 Proposed Rail Stations within walking distance.
- <500’ from Western Metra Station &Western Avenue Bus Corridor -Qualifying building for TOD incentives.
- Central location with access to major highways I-90/94, I-290.
- Frontage: 300’ of frontage along Western Ave.; 251’ of south frontage facing Metra Rail.
- High Traffic: 34,400 Vehicles Per Day travel along Western; 18,400 Vehicles Per Day travel along Grand
Listing Contacts
Listed by Strauss Realty
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
