868 N Franklin St
Chicago, IL 60610
868 N Franklin · Retail Property For Sale

SVN | Chicago Commercial is pleased to present this very unique, fully built-out restaurant building with existing infrastructure plus substantial land and air rights for development adding value and located in Chicago's red-hot River North neighborhood. As the long-time home of nationally acclaimed MK restaurant, this property is a fully-fixtured restaurant with approximately 5,715 SF at and above grade along with a full-height lower level, which contains all back of the house infrastructure for a restaurant. The building has both a mezzanine level and a second level for private dining or other purposes. This dynamic space features soaring ceilings with a bow truss roof in the main dining room, a massive skylight, exposed brick and timber beams throughout, two upscale ADA restrooms, a bar, a lounge area, and the potential for outdoor seating. The property could also be utilized for other uses including a nightclub, entertainment venue, banquet hall, office space, medical offices, salon, spa, fitness, gallery, showroom, childcare, or school…just to name a few. The property also has substantial development value as the existing C1-5 zoning allows for an approx 24,000 SF building to be constructed on-site without any zoning relief. Additionally, the site is located in a designated Transit Oriented Development (TOD) zone, allowing for substantially decreased parking requirements for new residential / mixed-use developments. Very favorable assumable financing is also available on this asset.