Lincoln Square | +/- 0.23 AC Foster-Western Opportunity

5214 N. Western Avenue Chicago, IL 60625

5214 N. Western Avenue, Chicago, IL, 60625
5214 N. Western Avenue, Chicago, IL, 60625 5214 N. Western Avenue, Chicago, IL, 60625 5214 N. Western Avenue, Chicago, IL, 60625 5214 N. Western Avenue, Chicago, IL, 60625 5214 N. Western Avenue, Chicago, IL, 60625 5214 N. Western Avenue, Chicago, IL, 60625 5214 N. Western Avenue, Chicago, IL, 60625 5214 N. Western Avenue, Chicago, IL, 60625
FOR SALE FOR LEASE
Property Type:
Multi Tenant Office
Amount:
$1,250,000
Last Verified:
Dec 13, 2024

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Highlights


Description

SVN Chicago Commercial is pleased to present the Foster-Western Office Building located at 5214 North Western Avenue, Chicago, IL, 60625. This ±9,000 SF property on 0.23 AC boasts versatile floor plans, 15 Units on three levels, with ample. dedicated rear parking, superb visibility, electric separately metered, and customizable private suites. Newly renovated lobby and hallways in 2023. Full Building Redevelopment Opportunity. Nearby to new mixed-use project developments along the Western Avenue corridor and steps to the CTA. 40th Ward infrastructure projects starting in 2024, Western Avenue Corridor Study implementation.

SVN Chicago Commercial is pleased to present the Foster-Western Office Building located at 5214 North Western Avenue, Chicago, IL, 60625. This ±9,000 SF property boasts versatile floor plans, 15 Units on three levels, with ample. dedicated rear parking, superb visibility, and customizable private suites. 84% occupied with 2 units left. From ± 439 SF or +/- 770 SF Suite to Full Building Opportunity. Nearby to new mixed-use project developments along the Western Avenue corridor and steps to the CTA. Tenant Incentives or Build-to-Suit Options.

Situated in the heart of Lincoln Square, this area offers a blend of modern amenities and historic charm. A walker's paradise (91 out of 100) with nearby Winnemac Park, Kempf Plaza, and Vogle Park. N. Western Avenue and W. Foster Avenue, are approximately 10 miles north of Chicago, with Edgewater to the north and Uptown to the south. CTA bus options, nearby Western Station Brown Line, Union Pacific Ravenswood Station, and new Peterson/Ridge Avenue Metra.


Year Built: 1961
Building Size: 9000sq ft
Building Class: C
Lot Size: 0.23 acres


Documents

SVN - Lease Brochure
SVN - Sale Brochure

Units for Lease

Unit 108
Space Available: 439 SF
Lease Type: Modified Gross

Price Per Sqft/Year: $20.00
Unit 204
Space Available: 770 SF
Lease Type: Modified Gross

Price Per Sqft/Year: $20.00
Full Building
Space Available: 7440 SF
Lease Type: NNN

Map of 5214 N. Western Avenue, Chicago, IL, 60625

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.