Victorian Greystone in Gold
812 N Dearborn Street, Chicago, IL 60610
Four-story building in vibrant Gold Coast neighborhood, suitable for various uses.
Type:Commercial/Industrial
Property size:
10,084 SFLot size:
0.08 AcresPrice / SF:
$391/SF- Added:
- Mar 11, 2026
- Days on Market:
- 72
- Last Refresh:
- Apr 5 at 10:22 pm
Property Features for 812 N Dearborn Street
General Information
- Standard status
- Active
- Size
- 10,084 SF
- Lot size
- 0.08 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1891
Listing agent Susan Silver License #475136992
Listing office Millennium Properties RE, Inc. (312) 338-3000
Listing date Mar 11, 2026
Source Exitrealty
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 Millennium Properties RE, Inc.
HighLights
- Prime Gold Coast location: Highly desirable area for business and residential use
- Versatile DX‑3 zoning: Allows for a wide range of uses (office, retail, medical, etc.)
- Large, subdividable space: 10,084 sq ft building easily adaptable for single or multiple tenants
- Excellent transportation access: Close to CTA Red Line, bus stops, Lake Shore Drive, and I‑90/I‑94
- Historic Victorian greystone: Four‑story building with unique architectural features
- Proximity to amenities: Walking distance to restaurants, boutiques, hotels, entertainment, and Washington Square Park
Overview
A four-story Victorian greystone is available for sale or lease in Chicago's Gold Coast neighborhood. The 10,084 square foot building is situated on a 3,700 square foot lot and is zoned DX-3, allowing for various uses, including office, retail, childcare, spa, veterinary practice, physical therapy, or medical and dental. The building features spacious, sunlit offices, vaulted ceilings, dark wood paneling and flooring, built-in bookcases, and recessed lighting. Currently configured for a single user, the property can be subdivided for multiple tenants. It is located in a densely populated area near restaurants, boutiques, hotels, and entertainment venues, one block from the CTA's Red Line and bus stops, and steps from Washington Square Park. Its location provides easy access to Lake Shore Drive, the I-90/I-94 Expressway, and public transportation. The Gold Coast neighborhood is known for its central location and access to Fulton Market, River West, the Loop, River North, Streeterville, and the Magnificent Mile, with retail shopping, art galleries, hotels, high-end residential options, nightlife, and entertainment venues.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$2.40M
NOI $216,362 @ 9.00% cap · cautious / downside scenario
Moderate
$3.09M
NOI $216,362 @ 7.00% cap · market / base-case scenario
Aggressive
$4.33M
NOI $216,362 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $387.2k | $38.40 |
| − Vacancy | −$98.7k | −$9.79 |
| EGI | $288.5k | $28.61 |
| − OpEx | −$72.1k | −$7.15 |
| NOI | $216.4k | $21.46 |
10,084 SF · lease $38.40/SF/yr · vacancy 25.50% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$3.09M
$2.70M – $3.61M
NOI $216,362 @ 7.0% cap · market cap 5.48%
Second Best
Retail
$1.99M
$1.74M – $2.33M
NOI $139,510 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$4.75M
$4.16M – $5.55M
NOI $332,820 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Grund & Leavitt
Law Firm
Adams David C
Law Firm
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6302
- Latitude
- 41.8972
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Four-story building in vibrant Gold Coast neighborhood, suitable for various uses.
Where is this office building located?
The property is located at 812 N Dearborn Street Chicago, IL.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Prime Gold Coast location: Highly desirable area for business and residential use; Versatile DX‑3 zoning: Allows for a wide range of uses (office, retail, medical, etc.); Large, subdividable space: 10,084 sq ft building easily adaptable for single or multiple tenants
