The Rock Spot 4500 S Tripp Ave 85,000 SF 100% Leased Industrial Building Chicago, IL 60632 For Sale

Rare opportunity to acquire an 85,000 SF industrial-zoned flex building paired with a turn key music rehearsal studio business, with additional upside as a self-storage conversion opportunity. This historic Art Deco property—originally home to Rival Packing—offers immediate income with multiple high-demand repositioning paths.
Income + Business Component:
+ Established music rehearsal studio business included in sale
+ 97 fully built-out studio units (~300 SF each)
+ Stable demand from musicians, artists, and small businesses
+ Turnkey operation-profitable business asset
Value-Add / Repositioning Opportunities:
+ Self-storage conversion potential (ideal unit sizes and layout)
+ Ability to reconfigure and maximize rentable square footage
+ Opportunity to relocate existing units and unlock ±30,000 SF on the first floor
+ Loading dock supports logistics, warehouse, or storage use
+ Flexible for industrial, flex, or climate-controlled storage concept
Why Self-Storage Works Here:
+ Existing unit configuration closely aligns with storage demand
+ Large footprint allows for scalable unit mix (small to mid-size units)
+ Freight elevator supports multi-level storage operations
+ Strong urban demand drivers for storage + creative space overlap
Building Highlights:
+ Industrial zoning (broad use flexibility)
+ Historic Art Deco architecture
+ Freight elevator (recently serviced and compliant)
+ 12 HVAC units in excellent condition
+ Updated plumbing systems
+ Roof recently maintained
+ Solid, well-maintained structure
Site Features:
+ Fenced and gated parking lot
+ Approximately 50 parking spaces
+ Secure access