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515 N Dearborn 515 N Dearborn St 41,634 SF 100% Leased Office Building Chicago, IL 60654 For Sale
Investment Highlights
- Multiple value-add pathways for sophisticated investors and end users- flexible use options: office, medical, residential or mixed-use
- Prime River North location with exceptional visibility and foot traffic
- Development potential on adjacent parking lot
- Steps from Michigan Ave, The Loop, Lake Michigan, CTA and bus routes
Executive Summary
515 N Dearborn Street, ideally located in Chicago’s River North neighborhood, is a corner, concrete, 48,000 +- sf retail and office building featuring an adjacent 14 car parking lot. The property’s flexible floorplan, manageable scale and prime location create multiple value-add pathways for investors and end-users, including repositioning, lease-up, redevelopment or new development. Zoned DX-7, this 12,000+ sf site supports approximately 84,000 buildable square feet as of right, plus potential bonus FAR. There is significant in-place income including office, retail, billboard and cell tower leases. The 5000+ sf of retail space provide major upside in this premier location.
Property Facts
Amenities
- 24 Hour Access
- Metro/Subway
- Property Manager on Site
- Natural Light
- Air Conditioning
Sustainability
Sustainability
ENERGY STAR® Energy Star is a program run by the U.S. Environmental Protection Agency (EPA) and U.S. Department of Energy (DOE) that promotes energy efficiency and provides simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations partner with the EPA to deliver cost-saving energy efficiency solutions that protect the climate while improving air quality and protecting public health. The Energy Star score compares a building’s energy performance to similar buildings nationwide and accounts for differences in operating conditions, regional weather data, and other important considerations. Certification is given on an annual basis, so a building must maintain its high performance to be certified year to year. To be eligible for Energy Star certification, a building must earn a score of 75 or higher on EPA’s 1 – 100 scale, indicating that it performs better than at least 75 percent of similar buildings nationwide. This 1 – 100 Energy Star score is based on the actual, measured energy use of a building and is calculated within EPA’s Energy Star Portfolio Manager tool.
Property Taxes
| Parcel Number | 17-09-248-001-0000 | Improvements Assessment | $1,329,647 |
| Land Assessment | $382,061 | Total Assessment | $1,711,708 |
Property Taxes
