Essex Realty Group, Inc. is pleased to announce that it has been exclusively engaged to market for sale, 1821 West Berteau Avenue, a 3-story loft office building located in Chicago’s popular Ravenswood neighborhood. The 18,750 SF property underwent a complete renovation in 2009 to the highest standards for the current tenant that included all new mechanicals, a new roof, security system, elevator, restrooms, a wet and dry fire suppression system and a building generator. The first floor features a modern office loft space with private offices and a conference room. The 2nd and 3rd floors both include office space, as well as storage space and feature high-tech dry fire suppression systems. There is additional storage space in the basement, and off-street parking options are available.

The entire building is currently rented to a single tenant whose lease expiration is on August 31st, 2023. The building produces a yearly rental income of $219,480. Given the short duration left on the current tenant’s lease and the extensive renovation, 1821 W Berteau is ideally positioned for an owner-user to move in immediately or for an investor to re-tenant the building without having to spend extensive dollars.

The property is situated on the south side of Berteau Avenue and is conveniently located steps to popular Ravenswood Avenue, making it an ideal location in the neighborhood. The Montrose and Irving Park L Stations are both less than 3 blocks away, providing tenants quick access to the Brown Line. Along with several surrounding bus stops & Divvy stations, the Ravenswood Metra Station is less than a mile away, offering tenants excellent public transportation options. 1821 W Berteau is a rare opportunity to own a recently renovated office building in a prime Ravenswood location with an endless choice of restaurants, local bars, and entertainment options steps away.

Ravenswood is a charming neighborhood on the North Side of Chicago situated less than 8 miles north of the Loop. The neighborhood is ideal for commuters as there are numerous proximate public transportation options. Ravenswood has seen real estate values skyrocket in the past decade, making it one of the highest valued markets in the City of Chicago. The neighborhood is well known for its quiet tree-lined streets, spacious lawns, extra-large front property setbacks, and beautiful residential architecture.

The subject property sits between the Montrose and Irving Park CTA “L” Stations and is less than a mile walk to the newly developed 80,000 SF Mariano’s and LA Fitness. Residents of Ravenswood enjoy a variety of shops and restaurants, from trendy boutiques to family-owned eateries.

• 18,750 SF Loft Office Building in Prime Ravenswood Location
• Entire Building Rented to a Single Tenant; Lease Expires August 2023
• Full Gut-Renovation in 2009 Including New Mechanicals, Roof, Security System, Fire Suppression System, etc.
• Steps to Popular Ravenswood Avenue & Blocks to the Montrose & Irving Park CTA 'L" Stations