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401 W Ontario St 48,000 SF 71% Leased Office Building Chicago, IL 60654 For Sale
INVESTMENT HIGHLIGHTS
- Rare opportunity to acquire a loft office building in River North zoned as of right for multifamily or mixed-use conversion
- Neighboring retailers include East Bank Club, CVS/Pharmacy, Target, Binny’s Beverage Depot, UPS Store, Ascend Cannabis, 7-Eleven, and Mixed Greens
- Located steps from the Kennedy Expressway, and nearby multiple public transit routes
- Underground parking garage on the lower level of the building
EXECUTIVE SUMMARY
401 West Ontario Street is a 48,000 SF multi-tenant office building, extremely well located in Chicago's River North neighborhood. The building is zoned DX-7 and is 65% occupied, presenting a value-add opportunity via lease-up / stabilization or multifamily / mixed-use conversion. Strategically located in River North, featuring a dense and affluent neighborhood with a population over 104,000 and an average household income of over $182,000 within one (1) mile of the Property, the building sits just one (1) block west of the Ontario/Ohio feeder ramps, presenting an opportunity for strong return on investment and value appreciation over time.
PROPERTY FACTS Under Contract
AMENITIES
- Signage
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
401 W. Ontario is a four (4) story multi-tenant office building located along Ontario Street in Chicago's River North neighborhood. The 48,000 square foot office building was renovated in 2016 and is currently 72% occupied. The building is conveniently located just north of the Ohio/Ontario exit/entrance ramps featuring direct access to the Kennedy Expressway. The location boasts excellent public transit options nearby including the Merchandise Mart and Chicago Brown and Purple Line “L” Stations and the Grand Blue and Red Line “L” stations.
401 W. Ontario is a four (4) story multi-tenant office building located along Ontario Street in Chicago's River North neighborhood. The 48,000 square foot office building was renovated in 2016 and is currently 72% occupied. The building is conveniently located just north of the Ohio/Ontario exit/entrance ramps featuring direct access to the Kennedy Expressway. The location boasts excellent public transit options nearby including the Merchandise Mart and Chicago Brown and Purple Line “L” Stations and the Grand Blue and Red Line “L” stations.
401 W. Ontario is a four (4) story multi-tenant office building located along Ontario Street in Chicago's River North neighborhood. The 48,000 square foot office building was renovated in 2016 and is currently 72% occupied. The building is conveniently located just north of the Ohio/Ontario exit/entrance ramps featuring direct access to the Kennedy Expressway. The location boasts excellent public transit options nearby including the Merchandise Mart and Chicago Brown and Purple Line “L” Stations and the Grand Blue and Red Line “L” stations.
401 W. Ontario is a four (4) story multi-tenant office building located along Ontario Street in Chicago's River North neighborhood. The 48,000 square foot office building was renovated in 2016 and is currently 72% occupied. The building is conveniently located just north of the Ohio/Ontario exit/entrance ramps featuring direct access to the Kennedy Expressway. The location boasts excellent public transit options nearby including the Merchandise Mart and Chicago Brown and Purple Line “L” Stations and the Grand Blue and Red Line “L” stations.
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 210 | 2,240 SF | Office | Full Build-Out | Now |
| 2nd Fl-Ste 225 | 1,395 SF | Office | Full Build-Out | Now |
| 3rd Fl-Ste 300 | 7,725 SF | Office | Full Build-Out | Now |
| 3rd Fl-Ste 301 | 2,435 SF | Office | Full Build-Out | Now |
2nd Fl-Ste 210
| Size |
| 2,240 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 225
| Size |
| 1,395 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste 300
| Size |
| 7,725 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste 301
| Size |
| 2,435 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 210
| Size | 2,240 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
401 W. Ontario is a four (4) story multi-tenant office building located along Ontario Street in Chicago's River North neighborhood. The 48,000 square foot office building was renovated in 2016 and is currently 72% occupied. The building is conveniently located just north of the Ohio/Ontario exit/entrance ramps featuring direct access to the Kennedy Expressway. The location boasts excellent public transit options nearby including the Merchandise Mart and Chicago Brown and Purple Line “L” Stations and the Grand Blue and Red Line “L” stations.
2nd Fl-Ste 225
| Size | 1,395 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
401 W. Ontario is a four (4) story multi-tenant office building located along Ontario Street in Chicago's River North neighborhood. The 48,000 square foot office building was renovated in 2016 and is currently 72% occupied. The building is conveniently located just north of the Ohio/Ontario exit/entrance ramps featuring direct access to the Kennedy Expressway. The location boasts excellent public transit options nearby including the Merchandise Mart and Chicago Brown and Purple Line “L” Stations and the Grand Blue and Red Line “L” stations.
3rd Fl-Ste 300
| Size | 7,725 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
401 W. Ontario is a four (4) story multi-tenant office building located along Ontario Street in Chicago's River North neighborhood. The 48,000 square foot office building was renovated in 2016 and is currently 72% occupied. The building is conveniently located just north of the Ohio/Ontario exit/entrance ramps featuring direct access to the Kennedy Expressway. The location boasts excellent public transit options nearby including the Merchandise Mart and Chicago Brown and Purple Line “L” Stations and the Grand Blue and Red Line “L” stations.
3rd Fl-Ste 301
| Size | 2,435 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
401 W. Ontario is a four (4) story multi-tenant office building located along Ontario Street in Chicago's River North neighborhood. The 48,000 square foot office building was renovated in 2016 and is currently 72% occupied. The building is conveniently located just north of the Ohio/Ontario exit/entrance ramps featuring direct access to the Kennedy Expressway. The location boasts excellent public transit options nearby including the Merchandise Mart and Chicago Brown and Purple Line “L” Stations and the Grand Blue and Red Line “L” stations.
PROPERTY TAXES
| Parcel Number | 17-09-128-004-0000 | Improvements Assessment | $780,900 |
| Land Assessment | $783,900 | Total Assessment | $1,564,800 |
PROPERTY TAXES
CONTACTS
-
Matt Tarshis -
Andrew Rubin -
Zack Pearlstein -
Andrew Picchietti -
Andrew Slovis -
Frontline Real Estate Partners
Presented by
401 W Ontario St
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