520 W Erie St - Office FOR SALE


Chicago, IL 60654- River North
$6,550,000 USD
312-513-2328
520 W Erie St, Chicago, IL for Sale
$6,550,000 USD
Office - FOR SALE
1/15
null | 7.45% Cap Rate

520 W Erie St
Chicago, IL 60654
River North


HIGHLIGHTS

  • Fully leased loft office building in Chicago’s River North neighborhood.
  • Classic brick-and-timber construction with modern interior finishes.
  • Private entrances and self-controlled HVAC for tenant convenience.
  • Directly across the river from Bally’s Hotel and Casino.
  • 2026 projected NOI of $495,000 with 100% occupancy.
  • 2026 projected NOI of $495,000 with 100% occupancy.

OVERVIEW

This fully leased loft office building offers an exceptional investment opportunity in Chicago’s River North neighborhood, one of the city’s most dynamic and sought-after commercial districts. The property spans approximately 45,300 square feet and features classic brick-and-timber construction, blending historic character with modern functionality. Each suite benefits from private entrances and self-controlled heating and air conditioning, providing tenants with autonomy and comfort. The building is 100% occupied, with a projected 2026 NOI of $495,000, delivering stable income and a 7.45% capitalization rate at the current asking price of $6,550,000. Positioned directly across the river from Bally’s Hotel and Casino, the property enjoys strong visibility and proximity to major entertainment and hospitality developments, enhancing long-term value. Located in the heart of River North, the asset is surrounded by a vibrant mix of dining, retail, and residential options, with convenient access to major highways, public transit, and downtown Chicago. This offering presents a rare chance to acquire a stabilized asset with value-add potential through below-market leases in one of Chicago’s premier office submarkets.

FOR SALE DETAILS

PRICE

$6,550,000 USD

PRICE/SF

$147 USD /SF

CAP RATE

7.45%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

C

YEAR BUILT

1928

SPRINKLERS

-

PARKING SPACES

94

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

DX-7

APN/PARCEL ID

17-09-122-009-0000

ASK ABOUT THIS PROPERTY

Mark LevySequoia Realty GroupMore Info
312-513-2328

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Mark LevySequoia Realty GroupMore Info
312-513-2328

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.