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Gold Coast Greystone Apartment Buildings

1505-1507 N Dearborn Parkway, Chicago, IL 60610

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For Sale

$4,895,000

Vintage apartment buildings in Chicago's prestigious Gold Coast neighborhood.

Type:Commercial

HighLights

Prime Gold Coast location in a prestigious, supply‑constrained residential neighborhood.
Rare value‑add opportunity with potential for significant rent increases through interior modernization.
Classic greystone architecture and well‑preserved vintage details appealing to Gold Coast renters.
Unique and desirable floor plans.
Offered individually or as a portfolio.
Adjacent properties available offer additional upside for development.

We can help!

Listing Contact

JEFFREY LOWE

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For Sale

$4,895,000

Vintage apartment buildings in Chicago's prestigious Gold Coast neighborhood.

Type:Commercial

Added:: Jan 30, 2026
Days on Market:: 140
Last Refresh:: Apr 5 at 8:19 pm

Property Features for 1505-1507 N Dearborn Parkway

General Information

Standard status: Active
Property subtype: Commercial

Building Details

Year Built: 1888

We can help!

Listing Contact

JEFFREY LOWE

Listing agent JEFFREY LOWE License #475154506

Listing office COMPASS

Listing date Jan 30, 2026

Source Corcoran

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 COMPASS

HighLights

Prime Gold Coast location in a prestigious, supply‑constrained residential neighborhood.
Rare value‑add opportunity with potential for significant rent increases through interior modernization.
Classic greystone architecture and well‑preserved vintage details appealing to Gold Coast renters.
Unique and desirable floor plans.
Offered individually or as a portfolio.
Adjacent properties available offer additional upside for development.

Overview

Located in the heart of Chicago's Gold Coast, 1505-07 N. Dearborn Parkway features a pair of adjacent vintage greystone apartment buildings. The properties offer a value-add opportunity within a premier submarket. The buildings feature curb appeal, classic greystone architecture, and vintage details. A new investor could modernize apartment interiors, enhance finishes, and capitalize on the unique and desirable floor plans to achieve higher rent levels, while preserving the historic character that defines the neighborhood. The properties are offered individually or as a portfolio. Adjacent properties at 1511-1515 N. Dearborn Parkway are also available, which are currently gutted and present optional upside for a value-add investor or developer.

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Local Demand

City: Chicago
County: Cook
State: Illinois
Longitude: -87.6298
Latitude: 41.9097

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For sale
Apartment buildings
IL
Chicago
60610
1505-1507 N Dearborn Parkway

What type of property is this?

Apartment building - Vintage apartment buildings in Chicago's prestigious Gold Coast neighborhood.

Where is this apartment building located?

The property is located at 1505-1507 N Dearborn Parkway Chicago, IL.

What is the asking price?

The asking price for this property is $4,895,000.

What are key features of this property?

This property features: Prime Gold Coast location in a prestigious, supply‑constrained residential neighborhood.; Rare value‑add opportunity with potential for significant rent increases through interior modernization.; Classic greystone architecture and well‑preserved vintage details appealing to Gold Coast renters.