3850 W Cortland Street,
3850 W Cortland Street Chicago, Illinois 60647 United States

3850 W Cortland Street
3850 W Cortland Street Chicago, Illinois 60647 United States

  • 1.1 Acres
  • New Listing


Photos and videos from 3850 W Cortland Street

1 of 12
Reset Layout
3850 W Cortland Street

About 3850 W Cortland Street, Chicago, Illinois

3850 West Cortland Street located in Chicago's Logan Square neighborhood. This unique value-add/redevelopment investment opportunity consists of an 147,000 SF multi-tenant industrial/flex building that sits on an 48,000 SF land site. Home to many different types of small to mid-size businesses, the property boasts a substantial in-place net operating income while the existing vacancy provides for tremendous upside for a new owner. All leases can be canceled by the Owner upon sale of the property, which provides incredible flexibility to future ownership for re-tenanting or re-positioning the asset. Some additional building features include a four interior dock loading area with two levelers, six drive-in doors - most of which open into tenant spaces, a 10,000 lbs capacity freight elevator, recently updated utilities, 488' of frontage on Springfield Ave, and high ceilings on all 3 floors - 17' high on the first floor, 14' high on the 2nd floor and 10' high on the useable lower level. The building is well located bordering Chicago's Logan Square, Humboldt Park and Hermosa neighborhoods, is convenient to CTA and Metra mass transit as well as all truck routes and highways. The property is also potentially eligible for TIF, Enterprise Zone, Underserved Area (EDGE) and HUBZone incentives. The property's prime Logan Square location is steps from the 606 Trail, Marine Leadership Academy, and Sharon Christa McAuliffe Elementary School. The nearest transit includes the Metra's Milwaukee District's North Line (Healy Station) and Armitage Avenue Bus Route (Bus Route 73). This opportunity is being offered at $7,500,000, which is a 7.8% CAP rate based on the 2023 in-place scheduled net operating income of $585,163.

Listing Courtesy of Sperry Van Ness

The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Marketed By

Property ID:11713391

MLS ID:11713391

Listing Courtesy of Sperry Van Ness

About : Logan Square

“The” Logan Square is a public green space at the junction of Milwaukee, Kedzie, and Logan Boulevard. The square boasts an impressive selection of restaurants and bars as well as music venues and coffee shops.

Read more about Logan Square