Log In/Sign Up
Your email has been sent.
642 N Dearborn St 5 Unit Apartment Building $2,150,000 ($430,000/Unit) 6.30% Cap Rate Chicago, IL 60654
INVESTMENT HIGHLIGHTS
- Highly desirable historical River North property adjacent to highly acclaimed Tao. | Income-producing, mixed-use investment opportunity.
- Favorable remaining lease terms and the opportunity for short-term rental management for additional income.
- Exceptional walkability in the heart of River North, with immediate access to everyday conveniences and high-end lifestyle amenities.
- Property consists of a total of 5-units, billboard income and a shared outdoor garden patio.
- Recent upgrades include newer water heaters, completely updated 3rd fl, including new flooring, new kitchenette, new countertops, new appliances, etc.
- Easy access to major transport, including the CTA Red, Brown, and Purple lines and 90/94 Expressway via Ontario and Ohio Streets.
EXECUTIVE SUMMARY
This is an income-producing, mixed-use investment opportunity with a projected NOI of $135,514. The highly desirable historical River North property is adjacent to the highly acclaimed Tao restaurant and consists of five units, billboard income, and a shared outdoor garden patio. The property benefits from favorable remaining lease terms, an opportunity for short-term rental management for additional income, and favorable DX-5 zoning permitting a variety of uses. Recent upgrades include a completely updated 3rd floor completed in 2025 and an updated 4th floor completed in 2021. The property is located in the heart of River North, offering exceptional walkability, immediate access to amenities, and easy access to major transport options, including the CTA Red, Brown, and Purple lines and 90/94 Expressway.
PROPERTY FACTS
| Price | $2,150,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $430,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 6.30% | Building Size | 6,100 SF |
| No. Units | 5 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built/Renovated | 1871/2025 |
| Zoning | DX-5 - Downtown Mixed-Use District | Favorable DX-5 zoning permitting a variety of uses. | ||
| Price | $2,150,000 |
| Price Per Unit | $430,000 |
| Sale Type | Investment |
| Cap Rate | 6.30% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 6,100 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1871/2025 |
| Zoning | DX-5 - Downtown Mixed-Use District | Favorable DX-5 zoning permitting a variety of uses. |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
1 1
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Number | 17-09-226-007-0000 | Improvements Assessment | $123,540 |
| Land Assessment | $57,288 | Total Assessment | $180,828 |
PROPERTY TAXES
Parcel Number
17-09-226-007-0000
Land Assessment
$57,288
Improvements Assessment
$123,540
Total Assessment
$180,828
1 of 10
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
642 N Dearborn St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.