4677 N Elston Ave 35,000 SF 100% Leased Retail Building Chicago, IL 60630 For Sale

4677 N Elston offers an exceptional chance to own or lease a versatile 35,000 SF commercial building on nearly an acre of land in one of Chicago’s most dynamic corridors. The property features a 25,000 SF Main section over two floors. This portion of the building includes 8,000 SF of clear-span space with a 22-foot clear ceiling height. There is also a second, separate section of the building with an entrance on Lowell that features a 4,000 SF warehouse on the first floor and 4,000 SF of office on the second floor. The property further boasts the rare amenity of a 52-car, dedicated parking lot adjacent to the building.
Located minutes from I-90/94 and with 160 feet of frontage on Elston Avenue, the site enjoys excellent accessibility and visibility. Flexible B1-1 zoning supports a wide range of as of right uses, including sports and recreation, retail, medical offices, creative studios, light industrial, and showroom space.
There are two leases in place which generate $30,000 in monthly net income. The Main section lease is a modified gross structure with more than eight years left (April 30, 2034). The remaining term is corporately guaranteed by Fitness International, the parent company of LA Fitness, and adjustments to the lease duration can easily be made to align with a buyer's objectives. The Lowell section lease is a gross structure with two years remaining (November 30, 2028). Ownership is willing to explore early termination options for this lease in further coordination with a buyer's objectives. Therefore, this opportunity allows a buyer the unique flexibility to either maintain the existing income or repurpose the property immediately to suit their vision.