634-636 N Orleans St - Apartments FOR SALE


Chicago, IL 60654- River North
$3,150,000 USD
312-656-2025
634-636 N Orleans St, Chicago, IL for Sale
$3,150,000 USD
Apartments - FOR SALE
1/12
null | Request Cap Rate

634-636 N Orleans St
Chicago, IL 60654
River North


HIGHLIGHTS

  • Mixed-use retail, office, and residential property in Chicago’s River North neighborhood amid a dense mix of entertainment, dining, and development.
  • Strong in-place income stream producing more than $200,000 annually, supported by five established tenants and a highly visible outdoor billboard.
  • Suggested auction opening bid set well below prior valuation, offering a rare chance to acquire a high-performing, income-generating asset.
  • Significant value-add opportunity for investors through the lease-up of the vacant coach house as an additional dwelling unit (ADU) or redevelopment.
  • Corner location near the East Bank Club, Mr. Beef, the future Bally’s Chicago casino, and a four-minute walk to the Chicago Avenue CTA Station.

OVERVIEW

At Orleans and Ontario Street in Chicago’s River North district, 634-636 N Orleans Street is a highly visible mixed-use property available for auction purchase. Constructed in 1920, the building exhibits the timeless warehouse loft-style architecture that defines much of Downtown Chicago’s early 20th-century charm. Encompassing approximately 10,070 square feet, the property is primarily occupied by long-term tenants, with a vacant coach house offering additional flexibility for redevelopment or new tenancy. Generating gross income exceeding $200,000 annually, the asset features five tenants and includes a prominent outdoor billboard that provides steady passive income. With the suggested opening bid well below previous valuation, 634-636 N Orleans Street presents an attractive value opportunity for investors, offering immediate income potential and substantial long-term upside. Located near attractive neighborhood amenities, including the East Bank Club, the iconic Mr. Beef restaurant, and several new commercial developments, such as the upcoming Bally’s Chicago casino slated for a 2026 opening, the property benefits from sustained area growth. Moreover, the Chicago Avenue Station, serving the Brown and Purple lines, offers convenient access for tenants and visitors to the area. Within a 2-mile radius, over 162,000 households generate $5.6 billion in annual consumer spending, driving strong demand for retail, residential, and office space throughout this thriving corridor. Contact Rick Levin & Associates Inc. today to learn more about this auction opportunity.

FOR SALE DETAILS

PRICE

$3,150,000 USD

PRICE/SF

$409 USD /SF

# OF UNITS

4

PRICE/UNIT

$787,500

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Orleans & Ontario Building

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,485 SF

ZONING

DX-7

APN/PARCEL ID

17-09-221-009-0000

ASK ABOUT THIS PROPERTY

Rick LevinRick Levin & Associates, Inc.More Info
312-656-2025

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Rick LevinRick Levin & Associates, Inc.More Info
312-656-2025

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