Greenstone Partners, as the Exclusive Investment Advisor, is pleased to present the opportunity to acquire the 100% fee-simple interest in 3800 North Milwaukee Avenue (the “Property”), located on Chicago’s northside in the Irving Park neighborhood. The Property offers a rare opportunity to acquire an urban infill multi-tenant flex / light industrial investment comprised of 128,722 rentable square feet covering 4.35 acres of land.

The Property is positioned in one of the most land-constrained submarkets in the central U.S., posing significant high barrier to entry. Flex or light industrial properties are limited on the north side of Chicago with zero new supply of similar property types. It is unlikely to have any future supply of flex or light industrial properties in this Chicago North submarket.

The Property is comprised of a variety of spaces and tenants, including a daycare, indoor sports facilities, an auto service and repair facility (Yellow Cab, Chicago’s oldest and largest taxicab company with over 1,000 vehicles), and warehousing for a non-for-profit charity. The current tenant mix includes three tenants over 20,000 square feet with the remaining tenants averaging approximately 7,500 square feet, making it ideal for a variety of flex users. Additionally, one of the largest tenant’s rent is significantly below market rent, paying only $6.71 PSF Net, compared to the remaining average of $15.30 PSF. The Property boasts 20 foot clear height in the majority of the building and is fully sprinkled.

The surrounding neighborhood has recently experienced a surge in new developments in both public and private sectors, further fueling infrastructure enhancements. Directly across the street is the soon to be completed new Metra Grayland station, which underwent extensive renovations to its bridge and supporting structures. Additionally, one block away is the massive redevelopment site of the Six Coners Peoples Gas site, $110 million development, which will include 346 apartments and 30,000 square feet of retail, adding to the plethora of retail and shopping in the Six Corners neighborhood.

3800 N. Milwaukee Avenue boasts over 700 feet of frontage along N. Milwaukee Ave and N. Kilbourn Ave, ensuring great visibility and access for multiple uses. The Property has over 90 on-site parking spaces and provides two common dock-high doors and three drive-in doors. Its unique location is easily accessible to I-90 (over 210,000 vehicles per day), ensuring exceptional connectivity for efficient transportation and access to visitor demand from a large radius.

Located less than eight miles northwest of the Chicago CBD Loop, the property benefits from excellent public transportation options, making it easily accessible for employees and customers. Within a 3-mile radius, the demographics include a population of nearly 384,000 people, an average household income $99,000.