Commercial: Mixed Use - MLS# 12528262
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Description
This is an income-producing, mixed-use investment opportunity with a projected NOI of $135,514. The highly desirable historical River North property is adjacent to the highly acclaimed Tao restaurant and consists of five units, billboard income, and a shared outdoor garden patio. The property benefits from favorable remaining lease terms, an opportunity for short-term rental management for additional income, and favorable DX-5 zoning permitting a variety of uses. Recent upgrades include a completely updated 3rd floor completed in 2025 and an updated 4th floor completed in 2021. The property is located in the heart of River North, offering exceptional walkability, immediate access to amenities, and easy access to major transport options, including the CTA Red, Brown, and Purple lines and 90/94 Expressway.
Features
- Property Type: Commercial
- Sub Type: Mixed Use
- Listing Status: Active
- County/Area: Cook County
- Zip Code: 60654
- Year Built: 1890
- Stories: 4
- Units: 5 units
- # Of Apts: 3
- # Of Stores: 2
- Approximate Age: New Rehab
- Built Before 1978 (Y/N): Yes
- Cap Rate: 6
- Cooling: Central Air
- Directions: On N Dearborn St at Erie St
- Electric: Separate Meters
- Electric Expense: 330
- Fire Protection: Alarm On Site
- Fuel Expense: 1080
- Geographic Locale: Chicago North
- Gross Income: 198922
- Gross Rent Multiplier: 15.8
- Gross Scheduled Income: 135514
- Heat/Ventilation: Central Bldg Heat
- Information: 48-Hr Notice Required
- Insurance Expense: 5013
- Lot Size Square Feet: 2614
- Main Type: Commercial Sale
- Other Expense: 2651
- Property Sub Type: Mixed Use
- Tax Annual Amount: 36329
- Tax Year: 2024
- Total Monthly Income: 11292
- Trash Expense: 2880
- Water Sewer Expense: 1200
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