12
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Listed by Scott Maeselof Sperry Van Ness
$2,050,000
Est. payment /mo
Price Dropped by $100K
642 N Dearborn Street Chicago, IL 60654
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Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12528262
Year Built 1890
Annual Tax Amount $36,329
Tax Year 2024
Lot Dimensions 50X100
Property Sub-Type Mixed Use
Property Description
This is an income-producing, mixed-use investment opportunity with a projected NOI of $147,639. 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 or to convert STR unit(s) back to traditional residential apartment, 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.
Location
State IL
County Cook
Interior
Cooling Central Air
Fireplace N
Exterior
View Y/N true
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Patrick Clarke
Broker | License ID: 471.007683