642 N Dearborn St - Apartments FOR SALE


Chicago, IL 60654- River North
$2,150,000 USD
847-219-6383
642 N Dearborn St, Chicago, IL for Sale
$2,150,000 USD
Apartments - FOR SALE
1/9
null | 6.3% Cap Rate

642 N Dearborn St
Chicago, IL 60654
River North


HIGHLIGHTS

  • Highly desirable historical River North property adjacent to highly acclaimed Tao. | Income-producing, mixed-use investment opportunity.
  • Property consists of a total of 5-units, billboard income and a shared outdoor garden patio.
  • Favorable remaining lease terms and the opportunity for short-term rental management for additional income.
  • Recent upgrades include newer water heaters, completely updated 3rd fl, including new flooring, new kitchenette, new countertops, new appliances, etc.
  • Exceptional walkability in the heart of River North, with immediate access to everyday conveniences and high-end lifestyle amenities.
  • Easy access to major transport, including the CTA Red, Brown, and Purple lines and 90/94 Expressway via Ontario and Ohio Streets.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,150,000 USD

PRICE/SF

$338 USD /SF

# OF UNITS

5

PRICE/UNIT

$430,000

CAP RATE

6.3%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1871

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

DX-5

APN/PARCEL ID

17-09-226-007-0000

ASK ABOUT THIS PROPERTY

Adam ThomasSVN | Chicago CommercialMore Info
847-219-6383

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Adam ThomasSVN | Chicago CommercialMore Info
847-219-6383

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