4850 W Bloomingdale Ave 160,000 SF 68% Leased Industrial Building Chicago, IL 60639 $6,500,000 ($40.63/SF) 11.09% Cap Rate

Positioned in Chicago’s thriving Northwest industrial corridor, this value-add multi-tenant industrial asset offers investors a rare combination of in-place cash flow, significant upside potential, and additional land for future flexibility.
The property currently generates approximately $721,000 in Net Operating Income with a 27% vacancy rate, presenting an exceptional opportunity to increase occupancy and drive revenue through strategic leasing and targeted capital improvements. Current Real Estate Taxes: $124,000.
Current rents remain below prevailing market rates, creating immediate mark-to-market upside for new ownership. With select upgrades—including window improvements, flooring enhancements, and a freight elevator repair which would result in 2 working freight elevators—the property is well-positioned to command stronger rental rates and attract higher-quality tenancy.
Additional land included: The offering also includes five unimproved city lots located directly across the street, currently utilized for tenant parking. These parcels provide valuable supplemental parking capacity and potential future redevelopment or expanded operational use.
Conveniently located 1 block from the Metra MDW commuter station at Grand & Cicero, with close proximity to I-90 and commercial amenities like Home Depot and Chase Bank.  Also near major transportation arteries and surrounded by established industrial and commercial users, 4850 W. Bloomingdale Ave offers excellent access to the greater Chicago metropolitan area.
This is an outstanding opportunity for investors seeking stable in-place income with substantial upside through repositioning, capital improvements, and active asset management.