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River North Storefront Leasing Opportunity
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320 W Illinois Street, Chicago, IL 60654

Prime retail, restaurant, or office spaces in vibrant River North.

Space Size2,094 SF - 6,073 SF
Property Size19,600 SF
Days on Market202

Property Features for 320 W Illinois Street

General Information

Standard status Active
Size 2,094 SF - 6,073 SF
Property subtype Retail

Building Details

Building Size 19,600 SF
Year Built 1985

Spaces For Lease

at 320 W Illinois Street Contact us

Suite B

Size
2,998 SF
Term
Negotiable
Rate
Contact for pricing
Contact us

Suite C

Size
6,073 SF
Term
Negotiable
Rate
Contact for pricing
Contact us

Suite D

Size
2,094 SF
Term
Negotiable
Rate
Contact for pricing
Contact us
Listing Agency: Frontline Real Estate Partners, LLC
Listed By: Matthew Tarshis · License #475156642
Source: Frontlinerepartners
Added: Jan 27 Changed: Aug 8 Last Checked: Aug 17 at 5:23AM

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Frontline Real Estate Partners, LLC

Investment Insights

Based on property information with market context.

Located in Chicago's River North neighborhood, River North Park offers leasing opportunities within a newly renovated (2019) 24-story apartment building. The property features approximately 19,600 square feet of prime storefront space. Available units along Grand Avenue include spaces of 2,998 SF, 5,977 SF, and 6,073 SF, which can be combined. The units feature large windows and open interiors, providing flexibility for restaurant, retail, medical office, or service-oriented users, and have the potential for black iron hook ups. A 211-space adjacent parking garage is available for a fee. The building is situated on an entire city block between Grand Avenue and Illinois Street, and between North Orleans Street and North Franklin Street, in one of Chicago’s most densely populated neighborhoods. The location offers excellent public transit options, steps from the Merchandise Mart 'L' station (Brown and Purple lines) and just west of the Grand 'L' station (Red line). The building is surrounded by several tech companies, contributing to a large daytime employee population. Convenient access to the Kennedy Expressway (Interstate 90 and Interstate 94) is provided via the Ontario Street and Ohio Street feeder ramps, located just two blocks north. The property is surrounded by national and local retailers and is within walking distance of North Michigan Avenue. The location has tenant signage opportunities available with visibility and exposure to 17,000 vehicles per day along Grand Avenue and 21,400 vehicles per day along Orleans Street, in addition to heavy pedestrian traffic. The property is part of a thriving community projected to experience population growth, with a high median household income within a one-mile radius. Current co-tenants include UPS, Domino’s Pizza, Re’Luxe, Ora Dental Studio, and Pups Pet Club. The current zoning allows for a range of retail, restaurant, office, and medical office tenants. Potential exists to provide parking for commercial tenants.

Key Highlights

  • Prime River North location with high foot and vehicle traffic.
  • Excellent transportation access near Merchandise Mart and Grand 'L' stations.
  • Flexible unit sizes suitable for various businesses; potential for black iron hookups.

Property Analytics

Current Use

Caras Law Group Law Firm River North Park ... Real Estate Agency TMV Services Hardware & Home Improvement Metrotech Design Group Interior Design Associated Rack Corporation Business Management Consultant

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Pet Grooming Service Butcher Adult Day Care Tattoo & Piercing Shop Nursing Home

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)
Lease Type

Location Intelligence

Trade Area within ½ mile

19,004
Businesses Nearby

Demographics for 60654, IL

23,890
Population
17,960
Households
1.3
Avg Household Size
34
Median Age
92%
College-Educated
99%
High-School Grad
0.5 sq mi
ZIP Area
47,780
Density / Sq Mi
$144,831
Median Household Income
$106,856
Median Earnings
$2,571
Median Rent
$495,900
Median Home Value

Market

Lease Benchmarks for Chicago, IL

$25.9 /SF/Yr
Avg Asking Price
$8–$133 /SF/Yr
Price Range
9,190 SF
Avg Space Size

Vacancy Rate% for Office in Chicago, IL

17.9% 2019
19.2% 2020
20.7% 2021
23.1% 2022
23.3% 2023
25.1% 2024
25.6% 2025
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Frequently Asked Questions

What type of property is this?
Retail space - Prime retail, restaurant, or office spaces in vibrant River North.
Where is this retail space located?
The property is located at 320 W Illinois Street Chicago, IL.
What are key features of this property?
This property features: Prime River North location with high foot and vehicle traffic.; Excellent transportation access near Merchandise Mart and Grand 'L' stations.; Flexible unit sizes suitable for various businesses; potential for black iron hookups.
More about this property
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