Essex Lists 18,750 SF Office Building in Ravenswood

November 29, 2022

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. has been engaged to market for sale 1821 W. Berteau Avenue, a unique three-story loft office building in Chicago’s Ravenswood neighborhood.

The 18,750 square foot property underwent a total renovation in 2009; including all new mechanicals, roof, security system, elevator, restrooms, building generator and state-of-the-art fire suppression system. The first floor features a modern loft office space with private offices and a conference room. Both the second and third floor include loft office spaces, as well as rooms currently used for storage. There is also ample off-street parking available in the immediate area.

The entire building is currently rented to a single tenant whose lease expires at the end of August 2023. It is ideally positioned for an owner-user to move in, or for an investor to re-tenant the building without having to spend a great deal on renovations.

Located between Montrose & Irving Park Road, the property is in an ideal location, steps to the Ravenswood Avenue business corridor. The area offers a diverse mix of single-family homes, apartment buildings, and a stream of restaurants, local bars, and entertainment options. Furthermore, tenants/employees have quick access to both the Montrose and Irving Park L stations (less than 2 blocks in either direction), several bus stops, and the Ravenswood Metra station.

The property is listed for sale by Essex Principal Jim Darrow, who is heading the marketing efforts. The property is offered for purchase at $3,950,000.

Tagged in this post: Jim Darrow