440 W Ontario St - Loft/Creative Space FOR SALE


Chicago, IL 60654- River North
$7,500,000 USD
312-881-7038
440 W Ontario St, Chicago, IL for Sale
$7,500,000 USD
Loft/Creative Space - FOR SALE
1/15
null | Request Cap Rate

440 W Ontario St
Chicago, IL 60654
River North


HIGHLIGHTS

  • Significant Redevelopment Potential: Zoned DX-7 for high-rise, mixed-use development.
  • Convenient access to I-90/94 and public transportation.
  • Situated in Chicago’s vibrant and up-and-coming River North neighborhood, this property is near abundant dining, entertainment, and retail.
  • Unique and versatile layout ideal for creative office use, with an appealing loft style and potential for various future applications.
  • Well-Maintained, Historic Building: Originally built in 1893, the property has been extensively renovated, with substantial updates completed.

OVERVIEW

Transwestern Commercial Services Illinois is pleased to exclusively present the real estate offering located at 440 W. Ontario St., Chicago, Illinois located in downtown Chicago’s up-and-rising River North neighborhood. Chicago’s vibrant River North neighborhood sits within close proximity to dining, entertainment and retail, with direct access to I-90/94 and a quick walk to the nearby public transportation spots. The offering includes an existing 26,000 square foot office creative loft building located on 0.31 acre and includes a rare 12 car dedicated parking lot. The building is 3.5 stories, with 3 floors above grade with a fully useable sub-grade lower level. The asset has been substantially renovated, significantly retrofitted, and attentively maintained over the last 25 years by the same ownership group. This real estate investment is unique and versatile to satisfy several future uses. The office building is currently vacant and ideal for purchase by an owner occupant, investor, or developer. Given the scarcity of land for new development in Chicago’s downtown area, the land value alone is of significant value. From a redevelopment perspective, the current zoning permits high rise development with potential up to 12 stories.

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$293 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1893

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

DX-7

APN/PARCEL ID

17-08-319-002-0000,17-09-127-018-0000

ASK ABOUT THIS PROPERTY

Larry SerotaTranswestern Commercial ServicesMore Info
312-881-7038

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Larry SerotaTranswestern Commercial ServicesMore Info
312-881-7038

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