3059-3067 N Elston Ave
Chicago, IL 60618
Retail Property For Sale

Cushman & Wakefield of Illinois, as exclusive advisor, is pleased to offer for sale the 100% fee simple interest in a commercial property located at 3059-3067 North Elston Avenue, as well as a surface parking area located at 2618 W Nelson Street (the “Property”). More commonly known as Tesla Service Center of Chicago, the offering entails over 1.73 acres of land and a 31,700 square foot single-story building, recently re-constructed to extraordinary utility and design standards. The Property, a build-to suit for Tesla, Inc., opened in November 2019 and is fully leased for an initial term of 10-years. Tesla, Inc. is the largest producer of electric vehicles in the United States, controlling 80% of all EV sales. 3059-3067 North Elston Avenue is located only 5 miles North of Chicago’s Central Business District, along the City’s prosperous northside, within the rapidly developing neighborhood of Avondale. The Property is strategically positioned near major transportation arterials in order to service the coveted and densely populated demographics of Chicagoland. This facility offers maintenance and repair for all Tesla models and this operation serves as one of only two Tesla Service Centers in the City of Chicago. This brand new lease features 10% rental increases every five years throughout the base term and 5-year option periods and has no landlord responsibilities, with the exception of roof and structure. Featuring 270’ of frontage along North Elston Avenue and access from both West Barry Avenue and West Nelson Street, approximately half of the building was brand new ground-up construction while the other half underwent complete renovation, including all new mechanicals, roof, floor slab, and bow truss replacement. The fully improved lot is capable of storing +/- 90 vehicles and 10 “Superchargers” capable of charging 80% of a typical Tesla battery within 40 minutes.