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5151 N. Harlem Ave 5151 N Harlem Ave 12,596 SF 61% Leased Office Building Chicago, IL 60656 For Sale
Investment Highlights
- High-visibility corner location at N Harlem Avenue and W Foster Avenue with approximately 36,200 VPD.
- Significant value-add potential through the lease-up of approximately 4,896 square feet.
- Strong surrounding retail mix supports consistent demand for professional office space.
- 61% occupancy with 15 suites leased to service-oriented, professional, and financial tenants.
- Excellent transportation connectivity with access to Blue Line, I-90, and O’Hare International Airport.
- Owner-user purchase option with flexible lease terms in place.
Executive Summary
5151 N Harlem Avenue offers a rare value-add investment opportunity within Chicago’s high-demand Northwest Side office market. This 12,596-square-foot, three-story property is prominently located at the signalized intersection of N Harlem Avenue and W Foster Avenue in a corridor with strong traffic exposure of approximately 36,200 vehicles per day. The building is currently 61% occupied by a diverse tenant roster across financial, professional, and service uses, providing stable in-place income with upside potential through lease-up of the remaining approximately 4,896 square feet.
Tenants benefit from exceptional accessibility, including proximity to the Harlem CTA Blue Line station, direct access to I-90, and quick connectivity to O’Hare International Airport. The surrounding area features a strong mix of national and local retailers such as Target, Kohl’s, Best Buy, Dick’s Sporting Goods, Marshalls, Nordstrom Rack, and multiple restaurants. Investors have the opportunity to capitalize on market fundamentals, including limited supply and long-term demand for well-located office assets. Flexible lease structures further enhance owner-user potential, creating a compelling investment for both stabilization and future appreciation.
Tenants benefit from exceptional accessibility, including proximity to the Harlem CTA Blue Line station, direct access to I-90, and quick connectivity to O’Hare International Airport. The surrounding area features a strong mix of national and local retailers such as Target, Kohl’s, Best Buy, Dick’s Sporting Goods, Marshalls, Nordstrom Rack, and multiple restaurants. Investors have the opportunity to capitalize on market fundamentals, including limited supply and long-term demand for well-located office assets. Flexible lease structures further enhance owner-user potential, creating a compelling investment for both stabilization and future appreciation.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
12,596 SF
Building Class
C
Year Built
1965
Percent Leased
61%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
4,198 SF
Slab To Slab
10’
Building FAR
1.16
Lot Size
0.25 AC
Zoning
B3-1 - Community Shopping District
Parking
20 Spaces (1.54 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
Moderately walkable
70/100
Moderately drivable
70/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 13-07-300-014-0000 | Improvements Assessment | $171,423 |
| Land Assessment | $80,498 | Total Assessment | $251,921 |
Property Taxes
Parcel Number
13-07-300-014-0000
Land Assessment
$80,498
Improvements Assessment
$171,423
Total Assessment
$251,921
Contacts
-
Matt Tarshis -
Andrew Rubin -
Zack Pearlstein -
Andrew Slovis -
Frontline Real Estate Partners
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