For Sale: Move-in-ready school building in Logan Square/Avondale

Highlights:

• Exceptional Owner-User Opportunity, with Immediate Occupancy - Ideal for an educational nonprofit or office user seeking a turnkey Chicago presence. The property offers immediate control, long-term cost stability and insulation from future rent escalation. The high-exposure location offers prominent branding and signage opportunities.
• Institutional-Quality Building with Modern Systems - Purpose-built school facility with significant capital investment, including contemporary mechanical, electrical, and life safety systems that support continued use or seamless adaptive reuse.
• Amenity-Rich and Accessible Location - Located along the Milwaukee Avenue corridor with strong CTA bus and nearby Blue Line access. The property benefits from the area’s vibrant restaurants and excellent connectivity to downtown Chicago and surrounding neighborhoods.
• Long-Term Value Appreciation - The asset sits directly in the path of ongoing gentrification and residential expansion north from Logan Square, where new multifamily and mixed-use developments are steadily reshaping the corridor. This momentum is driving increased foot traffic, rising household incomes and expanding retail amenities, positioning the property to benefit from sustained neighborhood appreciation and long-term demand.

Description:

Transwestern, as the exclusive listing agent, is pleased to present the opportunity to acquire the fee simple interest in 2989 N. Milwaukee Ave., an approximately 80,471-square-foot institutional-quality facility along Chicago’s rapidly evolving Milwaukee Avenue corridor between the Logan Square and Avondale neighborhoods.

Constructed in 2015, the property consists of approximately 80,471 square feet across four stories on a 1.036-acre site and includes 51 on-site parking spaces. The building features a highly efficient layout with infrastructure tailored to educational programming, including a full commercial kitchen and cafeteria, a library, a gymnasium, and flexible classroom space. The property benefits from high-quality construction, including Type I-B non-combustible framing, modern building systems, and LEED Gold certification, with features such as a green roof, daylight harvesting, and energy-efficient mechanical systems.

The existing layout supports continued use as an educational or community facility and offers viable conversion potential to residential or other alternative uses, subject to zoning and City approvals. Replicating a comparable facility today would be materially more costly and time-consuming, positioning the asset as a highly efficient solution for immediate occupancy.

The property presents a compelling opportunity for both owner-users and investors. Users benefit from immediate control of a high-quality facility in a supply-constrained submarket, eliminating lease rollover and development risk. Investors gain flexibility for repositioning and exposure to a corridor experiencing sustained residential growth and reinvestment. Improving area demographics, driven by increased density, rising household incomes, and expanding neighborhood amenities, are expected to support growing demand for high-quality schools and community-serving uses and underpin long-term appreciation. 2989 N. Milwaukee Ave. offers a rare combination of scale, quality, and adaptability in one of Chicago’s most active and upward-trending neighborhoods.

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