3850 W Cortland St - Manufacturing FOR SALE


Chicago, IL 60647- Logan Square
$7,500,000 USD
773-736-3600
3850 W Cortland St, Chicago, IL for Sale
$7,500,000 USD
Manufacturing - FOR SALE
1/29
null | 5.49% Cap Rate

3850 W Cortland St
Chicago, IL 60647
Logan Square


HIGHLIGHTS

  • 147,000 SF Multi-tenant industrial/flex building for sale on 1.15 acres in Logan Square. High ceilings. Skylights. 6 DID. 4 interior docks.
  • Renovated in 2020. Newer electric, water and gas, and several units with newer HVAC.
  • NOI $411,557 (April 1, 2025) with potential for additional income by filling vacancy (40,557 SF available for additional $33,768 in monthly income).
  • Mix of short and long term tenants, from small to mid-size businesses.
  • Corner of Armitage and Springfield, two blocks from 606 trail. Adjacent to Marine Leadership Academy and Sharon Christa McAuliffe Elementary School.
  • Potential incentive programs include TIF, Enterprise Zone, Underserved Area (EDGE) and HUBZone eligbility.

OVERVIEW

Now available for sale! 147,000 sf multi-tenant, multi-use industrial/flex building for sale on 1.15 acres in Logan Square. Building renovated in 2020! NOI $411,512 (April 1, 2025). Potential for additional $33,768 in income by filling vacancy (40,557 SF). With a mix of short- and long-term tenants spanning creative, industrial, and office uses, the asset is home to a diverse range of small to mid-size businesses. Importantly, all leases include ownership cancellation rights. Key features include: 4 interior dock loading areas with two levelers, 6 drive-in doors (most opening directly into tenant spaces), 10,000-lb freight elevator. Updated electrical, water, and gas service. High ceilings: 17' (1st floor), 14' (2nd floor), and 10' (usable lower level). 488 feet of Springfield Ave frontage. Large windows, skylights, and modernized HVAC systems in several units. On-site management and 24/7 access. Located at the intersection of Armitage and Springfield, the property sits at the confluence of Logan Square, Humboldt Park, and Hermosa, with convenient access to CTA and Metra transit, major highways, and truck routes. It is also just two blocks from the 606 Trail and adjacent to Marine Leadership Academy and Sharon Christa McAuliffe Elementary School. Potential incentive programs include TIF, Enterprise Zone, Underserved Area (EDGE), and HUBZone eligibility.

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$51 USD /SF

CAP RATE

5.49%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Manufacturing

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1950

UTILITIES

Gas - Natural, Water - City, Sewer - City, Heating - Gas

CLEAR CEILING HT

17 Ft

DOCKS

4

DRIVE INS

6

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.15

LAND SF

50,094

ZONING

M1-1

APN/PARCEL ID

13-35-302-020-0000

ASK ABOUT THIS PROPERTY

Adam Schneiderman, SIORStrauss RealtyMore Info
773-736-3600

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Adam Schneiderman, SIORStrauss RealtyMore Info
773-736-3600

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