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$14,000,000
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Property Description
FOR SALE OR LEASE - The West Hub @ 401-435 N. Western Ave, the largest redevelopment opportunity west of Ogden! This expansive 274,550 SF concrete and timber loft complex spans 1.803 acres with an additional 0.3-acre surface lot and consists of TWO interconnected buildings featuring rich industrial character, flexible layouts, and significant infrastructure. The property offers 7,000 SF to 151,800 SF available for lease, including a first-floor 18,295 SF warehouse and 10,470 SF office offered as-is at $8 PSF MG, with floors 2 through 6 available as-is at $5 PSF MG. Generous building features include a large courtyard parking area, fourteen exterior truck-level docks, heavy floor loads up to 200 lbs per SF, 10'-14' ceiling heights, three freight elevators, one passenger elevator, and full sprinkler coverage throughout. Ideally located in the rapidly expanding Kinzie Corridor just outside Chicago's CBD, the property provides direct access to the Western Metra Station and five major bus routes, along with exceptional visibility-34,400 vehicles per day on Western Ave, 18,400 on Grand Ave, and exposure to approximately 89,500 daily Metra commuters. The East Building offers six stories with approximately 14,360 SF floor plates along W. Hubbard Street, while the West Building delivers maximum prominence with 300 feet of frontage on N. Western Avenue and 250 feet of southern frontage along the elevated rail line, featuring floor plates around 32,500 SF. Located within Enterprise Zone 4, the Kinzie Industrial TIF District, and eligible for Chicago PACE financing, the site benefits from powerful redevelopment incentives and zoning that supports a wide range of industrial, office, and flex uses.
Full Property Details
Full Property Details for 401 N Western Ave
General
- Price: $14,000,000
- Taxes: $135,161 (2023)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12523103
- Updated: 11/30/2025
- Added to Site: 132 day(s) ago
Additional Information
- Security/Safety: Other
Location
- Area: CHI - West Town
- County: Cook
- Driving Directions: Corner of Western Ave and Hubbard.
- Location Details: Chicago West, Industrial Area/Campus, Industrial Park, Freestanding/Urban, Enterprise Zone, TIF Zone, In City Limits, High Traffic Area
Heating & Cooling
- Cooling Type: Office Only
- Heating Type: Ceiling Units, Forced Air, Gas
Structural Information
- Drive-In Doors: 2
- # Loading Docks: 14
- Stories/Levels: 6
- Square Feet: 274,550
- Year Built: 1915
- Built Before 1978: Yes
Unit Information
- Extra Storage Avail: Yes
Lot Features
- Lot Size (Sq. Ft.): 78,523
- Lot Dimensions: 299 x 250 x 318 x 251
- Potential Use: Industrial, Office
- Zoning: PMD
Financial Considerations
- Lease Price: $5
- For Sale/Rent/Lease: For Sale or Rent
- Security Deposit: Other
- Assessment Year: 1915
- Tax Amount: $135,161
- Tax Year: 2023
- Tenant Pays: Electricity, Heat, Operating Stops, Tax Stops
Disclosures and Reports
- Property ID: 17071320010000
Listed by Strauss Realty Ltd
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Schools
Schools serving 401 N Western Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Mitchell Elementary School, Chicago, IL 2233 West Ohio Street, Chicago, IL 60612 | PK-8 | 0.2 mi |
Wells Community Academy High School 936 North Ashland Avenue, Chicago, IL 60622 | 9-11 | 1.2 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 401 N Western Ave
Date
Details
Price
Change
Source
11/24/2025
Listed
$14,000,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 401 N Western Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$139,386
3%
$658,370
1%
2022
$135,162
5%
$654,904
3%
2021
$128,560
107%
$637,222
129%
2020
$62,200
11%
$278,285
—
2019
$56,098
49%
$278,285
46%
2018
$37,737
-7%
$190,426
1%
2017
$40,723
-12%
$188,525
-19%
2016
$46,525
11%
$232,290
1%
2015
$42,079
-29%
$229,632
-28%
2014
$59,114
72%
$318,609
69%
2013
$34,321
-19%
$188,705
-20%
2012
$42,339
—
$235,941
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 401 N Western Ave
401 N Western Avenue, Chicago, IL 60612 (MLS# 12523103) is a Commercial property. 401 N Western Avenue is currently listed for $14,000,000 and was received on November 24, 2025. Want to learn more about 401 N Western Avenue? Do you have questions about finding other Commercial real estate for sale in West Town? You can browse all West Town real estate or contact a Coldwell Banker agent to request more information.

