36 Squared 3636 S Iron St 155,000 SF 92% Leased Flex Building Chicago, IL 60609 $9,500,000 ($61.29/SF) 10.75% Cap Rate

DarwinPW Realty is proud to exclusively present 36 Squared for sale, located at 3636 S Iron Street in Chicago, Illinois. Originally constructed in 1915 as part of the Central Manufacturing District, the property has a rich legacy of industrial innovation and adaptive reuse. Over the past century, the building has housed a range of notable tenants and uses, from manufacturing the world’s first cylinder head gasket to serving distribution, artistic, and commercial purposes.

Spanning a total of 155,000 square feet across five stories, the property represents a rare offering, owned and maintained by the same ownership since 1979. Long-term ownership has supported ongoing capital investment and building system upgrades, resulting in a well-maintained asset with preserved architectural character. 36 Squared supports a diversified multi-tenant profile across office, flex, and light industrial uses, providing investors with stable tenancy and flexible leasing configurations adaptable to market demand. There is also a unique watchman’s loft apartment located on the fifth floor. The property is currently 92% occupied by a performing tenant mix, offering stable existing rental income as well as an immediate leasing or occupancy upside.
36 Squared is situated in Chicago’s Bridgeport neighborhood, a historically industrial area that has evolved into a diverse, mixed-use submarket supporting creative, office, commercial, and industrial uses. The property is close to Rate Field, home of the Chicago White Sox, and benefits from continued public and private investment in the surrounding area. Bridgeport’s growing appeal to artists, small businesses, and entrepreneurial users has driven demand for authentic, flexible space. With convenient access to Downtown Chicago, major expressways, and transit, the property is well-positioned to serve a broad tenant base while benefiting from continued neighborhood revitalization.

The South Chicago Submarket presents strong fundamentals that reinforce 36 Squared as a prime acquisition for investors. The region holds tight vacancies of just 5.3% for industrial properties and 4.6% for office properties, well below historical averages and the broader Chicago market. Construction activity is limited, with incoming industrial space representing only 0.5% of total inventory. This high-demand environment drives consistent rent growth in the submarket, with rates up 4.1% year-over-year for industrial properties. Office rates have experienced similar growth, climbing an average of 3.7% annually during the past five years. This elevated need for quality commercial space creates lucrative potential for modernized assets such as 36 Squared.

Don’t miss this performing investment in Chicago’s Bridgeport neighborhood that blends existing income from stable tenancy with a well-connected location near major expressways. Contact the DarwinPW Realty team today to schedule a tour and learn more about this incredible opportunity.