3850 W Cortland Street
Chicago, IL 60647

Tools & Resources:

Description

Now available for purchase, 3850 West Cortland Street offers a rare chance to acquire a stable, income-producing real estate asset in the heart of Chicago's dynamic Logan Square neighborhood. This 147,000 SF multi-tenant industrial/flex building sits on a 48,000 SF land parcel - this is a compelling opportunity for investors seeking strong in-place cash flow with upside potential through lease-up. The property currently generates a solid net operating income of $443,000 (NOI As of July 1, 2025), with potential for additional income by filling vacancy (40,557 SF available for additional $33,768 in monthly income). With a mix of short- and long-term tenants spanning creative, industrial, and office uses, the asset is home to a diverse range of small to mid-size businesses. Importantly, all leases include ownership cancellation rights. Key features include: Four interior dock loading areas with two levelers. Six drive-in doors (most opening directly into tenant spaces). 10,000-lb freight elevator. Updated electrical, water, and gas service. High ceilings: 17' (1st floor), 14' (2nd floor), and 10' (usable lower level). 488 feet of Springfield Ave frontage. Large windows, skylights, and modernized HVAC systems in several units. On-site management and 24/7 access. Located at the intersection of Armitage and Springfield, the property sits at the confluence of Logan Square, Humboldt Park, and Hermosa, with convenient access to CTA and Metra transit, major highways, and truck routes. It is also just two blocks from the 606 Trail and adjacent to Marine Leadership Academy and Sharon Christa McAuliffe Elementary School. Potential incentive programs include TIF, Enterprise Zone, Underserved Area (EDGE), and HUBZone eligibility.

Features

• Property Type: Commercial
• Sub Type: Industrial
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60647
• Year Built: 1952
• Sq.Ft.: 147,000 sq ft
• Stories: 3
• Lot Size: 1.15 acres
• Zoning: INDUS
• # Of Drive In Doors: 6
• # Of TL Docks: 4
• Approximate Age: New Rehab
• Building Area Total: 147000
• Built Before 1978 (Y/N): Yes
• Ceiling Hgt Max Ft: 17
• Ceiling Hgt Min Ft: 10
• Construction Materials: Brick
• Cooling: Window Unit(s)
• Directions: On Corland Street at Springfield Avenue
• Docks: Interior, Leveler/s
• Electric: Over 600 Amps
• Geographic Locale: Chicago Northwest
• Gross Income: 999
• Gross Scheduled Income: 999
• Heat/Ventilation: Ceiling Units
• Information: 24-Hr Notice Required, List Broker Must Accompany
• Investment (Y/N): Yes
• Leasable Area: 147000
• Lot Size Square Feet: 48000
• Main Type: Commercial Sale
• Min Avail Sq Ft (Rentable): 147000
• Operating Expense: 999
• Property Offered: For Sale Only
• Tax Annual Amount: 166755
• Tax Year: 2023
• Tenant Pays: Air Conditioning, Common Area Maintenance, Electricity, Heat, Operating Stops, Tax Stops, Other, Varies by Tenant