507 Pershing — Lease in Chicago, IL

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Industrial Property
  • Location: Chicago, IL 60653
  • Size: 17,250 SF
  • Year built: 1915

Photos

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Description

Position your business in one of Chicago’s most historic and rapidly evolving neighborhoods. 507 E. Pershing offers up to approximately 17,250 square feet across 2.5 stories, featuring expansive open floor plates, soaring ceilings, exposed brick, and striking Douglas fir timber beams that create an authentic loft-style environment. The building’s flexible layout allows for a variety of uses including creative office, showroom, studio, educational, light industrial, warehouse, or specialty retail (subject to zoning approval). The space is currently in shell condition, providing tenants the opportunity to design and build out interiors tailored specifically to their operational needs. Located just west of Lake Shore Drive and directly across from the Oakwood Shores residential development, the property benefits from strong neighborhood density and convenient access to Downtown, Hyde Park, and the South Lakefront. Public transportation options and major arterial routes are easily accessible. On-site parking is available, and the building’s wide frontage along Pershing provides excellent visibility and identity signage opportunities. This is an ideal opportunity for businesses seeking character-rich space with flexibility and presence in the growing Bronzeville corridor. Building SF: 17250 | Land Size: 6920.0 SF | Year Built: 1915 | Listing Type: FOR LEASE

Market Context

This industrial in Chicago, IL is listed for lease across 17,250 SF. The building dates to 1915. Compare it against other industrial listings for lease in Chicago, IL — view the full market.

As of Q2 2026, the Chicago industrial market showed a 5.3% vacancy rate, and rents up 7.4% year over year. Source: multiple brokerage reports, Q2 2026.

Rising rents point to a competitive market where well-priced, well-located space leases quickly.

Industrial market FAQ

Is the Chicago industrial market tightening or softening?
Vacancy is around 5.3%, with asking rents rising year over year (Q2 2026).

Estimated Market Rate

$0.52/SF/mo – $0.71/SF/mo

Mid: $0.62/SF/mo

Estimated total for 17,250 SF: $10,695 per month

Based on comparable properties in similar markets rather than local sales.

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