2950 W 26th St - Medical FOR SALE


Chicago, IL 60623- Little Village
$2,100,000 USD
847-341-6048
2950 W 26th St, Chicago, IL for Sale
$2,100,000 USD
Medical - FOR SALE
1/3
null | Request Cap Rate

NEW


2950 W 26th St
Chicago, IL 60623
Little Village


HIGHLIGHTS

  • Fully renovated 8,000 SF building on 15,000 SF of land with M1-2 zoning and 24 parking spaces in Little Village.
  • Renovated in 2019 for DaVita with substantial improvements already in place and immediate occupancy potential
  • Exceptional access to I-55, I-290, I-90, Midway Airport, downtown Chicago, and the region's labor force.
  • Flexible building suitable for office, medical, contractor, educational, service, industrial, or showroom users
  • Rare Chicago infill opportunity offering parking, industrial zoning, modern finishes, and repositioning potential.
  • Steve Kohn: Urban Infill expert for 30 years. Dedicated to making all of your commercial real estate dreams come true.

OVERVIEW

An Uncommon Opportunity in Chicago's Near South Industrial Market Imagine the possibilities. 2950 W. 26th Street presents a rare opportunity to acquire a highly adaptable building in one of Chicago's most established infill business districts. Located in Little Village on Chicago's Near South Side, the property consists of approximately 8,000 square feet situated on 15,000 square feet of land and benefits from M1-2 industrial zoning, substantial recent improvements, and a location that provides excellent access throughout the Chicago metropolitan area. The property was comprehensively renovated in 2019 for DaVita and reflects a level of investment that would be difficult and costly to replicate today. The current improvements provide immediate functionality for a wide variety of office, medical, educational, nonprofit, contractor, professional services, showroom, or institutional users. At the same time, the underlying industrial zoning creates flexibility that is increasingly difficult to find within the city limits. Many buildings are designed for only one use. This property is different. The next owner is not required to operate a medical facility. The building can accommodate a broad range of business models and occupancy strategies. An owner-user may occupy the facility immediately. A growing company may reposition the asset as a headquarters location. Contractors may utilize the property as a combination of office, fleet, and operational space. Educational organizations, community groups, healthcare providers, light industrial users, wholesalers, manufacturers, logistics companies, and service firms may all find value in the property's unique combination of improvements, parking, zoning, and location. One of the property's most valuable features is its M1-2 zoning designation. Industrial zoning has become increasingly scarce across many Chicago neighborhoods as redevelopment pressure continues to reduce the inventory of flexible commercial and industrial sites. The zoning allows ownership to adapt the property as business requirements evolve over time. Rather than purchasing a highly specialized building with limited future options, buyers can acquire a facility that offers multiple paths to value creation. The site offers approximately 24 parking spaces, a significant amenity for both employees and visitors. Parking is often a challenge for city-based operations, making this attribute particularly attractive to businesses with employee traffic, customer visits, service vehicles, or organizational growth plans. Location remains one of the strongest attributes of the property. Little Village has long been recognized as one of Chicago's most active business communities. The surrounding neighborhood contains a diverse mix of manufacturers, wholesalers, construction-related businesses, suppliers, transportation firms, retailers, and service companies. Businesses benefit from access to a large labor pool, dense population centers, and proximity to customers throughout both the city and surrounding suburbs. The area's established infrastructure and central location continue to support a wide variety of industrial and commercial users. Transportation access is excellent. Interstate 55 is approximately one mile from the property, while Interstate 290 and Interstate 90 can be reached quickly through Chicago's expressway network. Midway Airport is approximately five miles away, providing convenient domestic access, while O'Hare International Airport is accessible within the broader regional transportation system. Nearby public transportation and commuter rail access improve employee accessibility and help support recruiting efforts. In today's Chicago industrial market, infill locations continue to command strong interest from owner-users and investors because new development opportunities are limited. Unlike suburban locations where land assemblies may still be possible, city sites benefit from established infrastructure, mature transportation networks, and access to existing business clusters. Companies seeking proximity to customers, suppliers, and employees frequently prioritize locations such as Little Village because replacement opportunities are increasingly difficult to create. The property's improvements create immediate value. Rather than acquiring an obsolete industrial building requiring substantial capital expenditures, buyers can take advantage of a facility that has already undergone significant modernization. The investment made during the 2019 renovation allows ownership to focus on operations rather than major construction projects. The building is equally compelling for investors. The adaptability of the improvements expands the potential tenant pool beyond a single industry segment. Future ownership may choose to lease the property to office, medical, educational, service commercial, institutional, or industrial users depending on market conditions. This flexibility can provide a strategic advantage in changing economic environments. The neighborhood itself offers numerous amenities for employees and visitors. Restaurants, banking services, retail establishments, contractor suppliers, manufacturers, and business services are all located nearby. Walkability and accessibility contribute to the overall attractiveness of the location while helping support daily business operations. The property's combination of infill location, industrial zoning, parking, modern improvements, and flexible functionality creates a unique opportunity for organizations seeking more than a traditional office building or warehouse. Whether the vision involves owner occupancy, headquarters operations, healthcare services, education, light manufacturing, contractor operations, nonprofit activities, investment ownership, or future redevelopment, 2950 W. 26th Street offers the foundation to pursue that strategy. Few properties in the Chicago market provide this level of optionality. For businesses seeking a strategic city location, investors pursuing a distinctive value-add opportunity, or organizations looking to control their real estate rather than lease, 2950 W. 26th Street deserves serious consideration.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$263 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Front Door to Little Village

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2019

SPRINKLERS

-

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

15,000 SF

ZONING

M1-2

APN/PARCEL ID

16-25-127-028-0000,16-25-127-035-0000

ASK ABOUT THIS PROPERTY

Steven KohnAvison YoungMore Info
847-341-6048

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Steven KohnAvison YoungMore Info
847-341-6048

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.