225 W Superior St - Office/Residential FOR SALE


Chicago, IL 60654
$7,900,000 USD
847-582-4665
225 W Superior St, Chicago, IL for Sale
$7,900,000 USD
Office/Residential - FOR SALE
1/21
null | Request Cap Rate

225 W Superior St
Chicago, IL 60654


HIGHLIGHTS

  • River North, known for art and entertainment, is one of the City’s premier locations to live, work and play.
  • Adaptive re-use opportunity with DX-5 zoning (Downtown Mixed-Use) allows for 70,000 square feet and potential for up to 113,000 square feet.
  • Poised for an owner/occupant to access to a highly educated workforce, open floor plans and proximity to transportation.
  • Opportunity to combine energy efficient improvements with C-PACE financing for enhanced returns.

OVERVIEW

The Colliers | Chicago Office and Multifamily Capital Markets Teams are the exclusive agents for the sale of 225 W. Superior, Chicago, Illinois (the “Property”). Nestled in the heart of Chicago’s River North, the Property is steps from the CTA Brown Line at Franklin Street with connections to train lines traversing the city. This section of River North is known for its art and gallery district and highly desirable apartment/condo living. The location near multiple transportation routes and its proximity to nearby restaurants and hotels makes this a perfect site for commercial or residential tenants alike. This three-story structure totaling approximately 56,000 rentable square feet sitting on .3214+/- acres is prime for re-development. The square footage includes approximately 14,000 square feet used for underground storage and parking accessed directly from Superior. The Property had been occupied by Norvax, operating as GoHealth, since 2018. They vacated the Property as of June 30, 2024. This presents a unique opportunity for an owner-occupier to acquire 56,000 square feet for their operations or for a developer seeking a rare free and clear site for a TOD residential development.

FOR SALE DETAILS

PRICE

$7,900,000 USD

PRICE/SF

$141 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Re-development Opportunity

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Freestanding, Loft/Creative Space, Medical

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1969

SPRINKLERS

-

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,000 SF

ZONING

DX-5, Chicago

APN/PARCEL ID

17-09-209-023-0000

ASK ABOUT THIS PROPERTY

Alissa AdlerColliersMore Info
847-582-4665

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Alissa AdlerColliersMore Info
847-582-4665

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