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401 N Leavitt St

39,000 SF 100% Leased Industrial Building Chicago, IL 60612 $2,500,000 ($64/SF)

Investment Highlights

  • Functional industrial / warehouse building one 1+ acre lot
  • 2 Exterior Trailer-high docks; 1 Internal double wide depressed dock
  • Pricing near land value within the neighborhood
  • secluded location with street and easement setbacks on three sides of prop
  • Warehouse, Light Manufacturing, Distribution, Production
  • Easily demised to allow for 4-5 multi-tenant spaces on 1st & 2-3 spaces on 2nd floor

Executive Summary

Welcome to 401 N. Leavitt Street, an impressive Industrial/Warehouse spanning 39,000 Sq. Ft., accompanied by a spacious 12,000 Sq. Ft. surface parking lot. This architectural piece of history is divided into two levels, with the first floor comprised of 27,000 Sq. Ft. and the second floor offering 12,300 Sq. Ft. of space.
The first floor features a 9,000 Sq. Ft. barrel-truss building, with soaring lofted ceilings and windows on both the northern and southern facades. With its own dedicated entrance, this floor is designed for convenience and accessibility. Adding to its allure, an exterior, trailer-high dock complements the layout seamlessly.
Adjacent to this, a 10,800 Sq. Ft warehouse/production expanse takes center stage. With ceiling heights varying from 9 to 15 feet, it caters to versatile requirements. It too has a dedicated entrance, along with a receiving-shipping area conveniently positioned within. Adding to its utility is a unique double-wide depressed loading dock, easily accessible from the interior, and providing direct connection to the freight elevator.
Completing this level is a 7,200 Sq. Ft. office to the west. Thoughtfully designed spaces such as offices, a break-room, and ample storage, it ensure a conducive environment. A dedicated entrance adds an element of exclusivity to this section.
Venturing to the second floor unveils 12,300 Sq. Ft. of timber-infused, lofted space. Showcasing clear heights ranging from 13 to 15 feet, it is surrounded by windows on all four sides. The panoramic vistas encompass downtown panoramas and the picturesque Kinzie Corridor. Moreover, this floor offers two access points to the roof, opening the doors to panoramic city views and the potential for a private roof-deck retreat.
An internal double-wide depressed loading dock resides within, while two exterior trailer-high loading docks flank the eastern side. The latter even facilitates direct access into the freight elevator, enhancing logistical ease.
Imagined for a plethora of purposes, this property suits industrial, light manufacturing, warehouse, distribution, production, and contractor/service needs. Notably, if a partial space is desired for owner-user scenarios, effortless demarcation options exist. This enables the creation of 4-5 income-generating spaces on the first floor, and 1-3 spaces on the second floor, promising utmost versatility.

Property Facts

Price $2,500,000
Price Per SF $64
Sale Type Investment or Owner User
Sale Conditions High Vacancy Property
Property Type Industrial
Property Subtype
Manufacturing
  • Flex Light Manufacturing
  • Industrial Distribution
  • Industrial Warehouse
Building Class C
Lot Size 0.90 AC
Rentable Building Area 39,000 SF
No. Stories 2
Year Built 1947
Parking Ratio 1.02/1,000 SF
Clear Ceiling Height 18’
No. Dock-High Doors/Loading 2
No. Drive In / Grade-Level Doors 1

Amenities

  • Fenced Lot
  • Yard
  • Storage Space

Utilities

  • Gas - Natural
  • Sewer - City
  • Heating - Gas
Walk Score®
Very Walkable (87)
Transit Score®
Excellent Transit (74)
Bike Score®
Biker's Paradise (96)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
17-07-135-020-0000
Land Assessment
$135,000
Improvements Assessment
$307,104
Total Assessment
$442,104

zoning

Zoning Code PMD 4A (Planned Manufacturing District 4A TIF - Kinzie Industrial Corridor Enterprise Zone 4)
PMD 4A (Planned Manufacturing District 4A TIF - Kinzie Industrial Corridor Enterprise Zone 4)
  • Listing ID: 22029278

  • Date on Market: 1/21/2021

  • Last Updated:

  • Address: 401 N Leavitt St, Chicago, IL 60612

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