Prime Fulton Market Opportunity Adjacent to Kinzie Building Co. Portfolio in Chicago, IL
Asking Price: $1,350,000.00
Categories: Available Commercial, Commercial, For Sale, Industrial, Land, Multi-Family, Office, Portfolio Sale, Retail
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Description
Minimum Bid: $1,350,000.00
Sealed Bid Due Date: Bids are Due on or Before March 3, 2025 at 5 pm CST
Sealed Bid Process: Bids Should be Submitted to Diana Peterson via Email at dianap@awproperties.com along with Proof of Funds; Submitting Your Offer Prior to the Sealed Bid Due Date is Highly Encouraged!
**If an Acceptable Offer is Received Prior to the Sealed Bid Date, Seller Reserves the Right to Accept it and Move Forward to Closing.**
Closing Date: On or Before March 31, 2025
Buyer Broker Co-Op Fee: Buyer Shall Pay their Broker (if Any) at Closing; Seller is Not Offering a Buyer Broker Co-Op Fee
Lot Size: Approx. .08 Acres or 3,630 SF (30×118)
Existing Building Size: Approx. 5,330 SF
Built: 1910
Current Zoning: M2-3
Potential Zoning: DX-5 or DX-7
FAR: 1.47
2023 Property Taxes: $9,246.00
Ward/Alderman: 27th/Alderman Walter Burnett
Property Description:
AW Properties Global is pleased to present 421 North Aberdeen Street, a vacant industrial building adjacent to the Kinzie Building Company portfolio we are concurrently offering for sale via sealed bid. See link to the Kinzie Building Company portfolio sale, here: Prime Fulton Market Opportunity in Chicago, IL – AW Properties Global
421 N. Aberdeen is the fifth parcel that completes this prime assemblage opportunity in Chicago’s highly sought-after Fulton Market District. Situated on an approximately 3,630 SF sf parcel (0.08 acres), the property is currently zoned M2-3 / Permitted Light Industrial – Manufacturing, Warehousing, Wholesale and Industrial. However, its strategic location and scale offer potential rezoning to DX-5 or DX-7 which would allow for residential, mixed-use, office, hotel and retail uses.
Building Highlights Include:
- Industrial flex building located in the West Loop just north of the Google Midwest HQ & adjacent to Kinzie Building Company portfolio being sold via sealed bid concurrently
- Ceiling heights ranging between 10′ to 12′
- Front and rear drive-in doors with curb cut on N. Aberdeen Street
- Approx. 3,630 SF of first floor warehouse and approx. 1,700 SF of second floor office space
- Private entrance beneath train tracks that fronts on W. Hubbard Street
- Current M2-3 zoning with future development opportunity under DX-5 or DX-7 zoning
Why Invest in Fulton Market?
Fulton Market, located in Chicago’s Near West Side, is one of the city’s most dynamic and rapidly evolving neighborhoods. Once an industrial hub, this vibrant district has transformed into a premier live-work-play destination, attracting urban dwellers, innovative businesses, and visionary developers.
Bounded by Grand Avenue to the north, Washington Street to the south, Halsted Street to the east, and Ogden Avenue to the west, Fulton Market serves as an extension of the Loop and West Loop. Its blend of historic charm and modern redevelopment has made it a hotspot for residential, office, mixed-use, retail, and hospitality growth.
The neighborhood’s strategic location provides unparalleled connectivity. It is easily accessible via major thoroughfares, CTA bus lines, and multiple “L” train stations, including the Morgan and Ashland stops on the Green and Pink Lines. Additionally, nearby Metra commuter rail stations enhance regional access, while proposed infrastructure projects like the West Town Metra station promise to further boost connectivity and growth potential.
Once dominated by industrial warehouses, Fulton Market now features a cutting-edge mix of office, retail, mixed-use, and multifamily developments. Global leaders like Google and McDonald’s have set up operations here, drawn by the area’s unique energy and potential. With ongoing infrastructure improvements and a thriving cultural scene, Fulton Market continues to attract significant investment and interest.
As Chicago’s fastest-growing submarket for office buildings, Fulton Market injects new vitality into the city’s Central Business District. The neighborhood accounts for 5.1% of the downtown office market, offering over 7.3 million square feet of redeveloped real estate, including office, retail, hotel, and residential properties. Groundbreaking projects like 919 W. Fulton, which will add 409,000 square feet of Class A office space, further reinforce Fulton Market’s reputation as a hub for innovation, growth, and investment within Chicago’s broader real estate landscape.
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