1640 W Hubbard St
Chicago, IL 60622
Industrial Property For Sale

Comprised of two cohesive buildings, 1640 W Hubbard is 35,866 Rentable Sq.Ft., 100% leased with seven tenants, and a perfect balance of flexible, distribution, commercial kitchen, gallery and creative loft office space. The property is situated on a 32,376 Sq. Ft. site, fronting W Hubbard St as well as N Paulina St, and offers (10) surface parking spaces. Predominantly single story, the partial second floor offers tremendous cityscape and neighborhood views with two efficient loft office spaces. MODERNIZATION – RELAXED PMD / TOD Noticing the push west, the city of Chicago DPD has approved and submitted for approval the Kinzie Industrial Corridor Modernization Ordinance. With the new plan anticipated to be implemented late 2019, 1640 W Hubbard St is located within the Ordinance’s new relaxed PMD 4B zoning: • Relaxed PMD 4B Zoning now permits office, retail, restaurants and other uses previously prohibited. New permitted uses will continue to drive market rental rates • New ordinance permits ground-up construction for true office development • Contributing to the long-term opportunity and future development potential, 1640 W Hubbard is located less than 500’ from the Ashland Bus Corridor, making the site eligible for TOD Qualifications, per the recently passed BUS Corridor-TOD-Ordinance • With relaxed PMD & TOD Qualifications on a 32,376 Sq. Ft Site, 1640 W Hubbard St offers long term development potential more than 97,128 RBA LOCATION • Four CTA Stations & Western-Metra Station within one mile of Property • Direct interstate access within one mile - I-90/94 & I-290 • Immediate access to the following major thoroughfares: Western Ave, Grand Ave, Ashland Ave & Ogden Ave • Truck II & Truck III routes provide distribution for Downtown service needs • United Center West Loop/Fulton Market, River West, Goose Island, Wicker Park all within one mile • UIC, IMD, Downtown, Lincoln Park and River North all within 10-15 minute drive BUILT-IN NEED FOR FLEXIBLE & CREATIVE SPACE • ICNC’s Make City Incubator is home to more than 110 new, growing companies • The recently opened Hatchery is one of the country’s largest food incubation spaces. It is anticipated 900 jobs will be created out of the 67,000 Sq. Ft. facility • Home to 40 healthcare institutions, IMD’s 31-acre, Gateway project is underway. With potential to rival the “McDonald’s Effect” of the West Loop, Kinzie Corridor offers affordable and convenient space for companies and vendors needing to be within close proximity