10 W Erie St 0.32 Acres of Commercial Land Offered at $6,300,000 in Chicago, IL 60654

Greenstone Partners, as the Exclusive Investment Advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in 10-22 West Erie Street (the “Property” or “Investment”), a premier urban infill development site in Chicago’s River North neighborhood. The Property consists of four contiguous parcels totaling 13,940 square feet of land along West Erie Street. The two western parcels combine for ±6,904 square feet of vacant land; 14 West Erie includes ±2,940 square feet of land and is improved with a vacant three-story, ±5,298-square-foot orange-rated building; and 10-12 West Erie adds ±4,084 square feet of vacant land to the east.
The Property is zoned DX-5, allowing for as-of-right high-density mixed-use development. This zoning provides a clear path to redevelopment and avoids the time and uncertainty associated with a zoning approval process. Notably, the development would not require on-site affordable housing under the Affordable Requirement Ordinance (ARO).
Located just steps from Michigan Avenue and the Magnificent Mile, the Property is surrounded by River North’s dense concentration of residential towers, hotels, acclaimed restaurants, nightlife, and destination retail. River North continues to attract strong investment and tenant demand as one of Chicago’s premier live-work-play environments, driven by its central location, affluent demographics, and proximity to major employment hubs, while the broader downtown market remains supported by limited new housing supply, reinforcing the long-term appeal of well-located development opportunities in core urban neighborhoods.
The Property also benefits from exceptional connectivity and daily convenience, with walkable access to the Chicago Avenue CTA Red Line station, multiple bus routes, and immediate access to the Kennedy Expressway and Lake Shore Drive, providing seamless connectivity throughout the city and greater region.