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4677 N Elston Ave 8,000 - 25,000 SF of Retail Space Available in Chicago, IL 60630
HIGHLIGHTS
- 160' Of Frontage on Elston
- Includes 8,000 SF of clear span space with 22 foot ceilings
- Rare, Dedicated 52-car parking lot
SPACE AVAILABILITY (2)
Display Rental Rate as
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 17,000 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request | TBD | ||
| 2nd Floor | 8,000 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request | TBD |
1st Floor
- Can be combined with additional space(s) for up to 25,000 SF of adjacent space
2nd Floor
- Can be combined with additional space(s) for up to 25,000 SF of adjacent space
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS
| Total Space Available | 25,000 SF | Gross Leasable Area | 25,000 SF |
| Property Type | Retail | Year Built | 1950 |
| Property Subtype | Health Club |
| Total Space Available | 25,000 SF |
| Property Type | Retail |
| Property Subtype | Health Club |
| Gross Leasable Area | 25,000 SF |
| Year Built | 1950 |
ABOUT THE PROPERTY
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 more than $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.
NEARBY MAJOR RETAILERS
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4677 N Elston Ave
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