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Vintage Greystone Apartment Buildings

1505-1507 North Dearborn Parkway, Chicago, IL 60610

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For Sale

$4,895,000

Gold Coast value-add opportunity with vintage details.

Type:Multi Family 5+ / Flats

HighLights

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

We can help!

Listing Contact

Jeff Lowe

Learn more

For Sale

$4,895,000

Gold Coast value-add opportunity with vintage details.

Type:Multi Family 5+ / Flats

Added:: Jan 28, 2026
Days on Market:: 133
Last Refresh:: Mar 13 at 6:53 pm

Property Features for 1505-1507 North Dearborn Parkway

General Information

Standard status: Active
Property subtype: Multi Family 5+ / Flats

Building Details

Year Built: 1888

We can help!

Listing Contact

Jeff Lowe

Listing agent Jeff Lowe License #475154506

Listing office Compass

Listing date Jan 28, 2026

Source Compass

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 to increase rent levels through modernization.
Classic greystone architecture with well‑preserved vintage details appealing to Gold Coast renters.
Unique and desirable floor plans.
Offered individually or as a portfolio.
Adjacent properties available, presenting optional upside for a value‑add investor or developer.

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 submarket where renovated rental inventory is limited. 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. 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: -87.6297733
Latitude: 41.9096678

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

What type of property is this?

Apartment building - Gold Coast value-add opportunity with vintage details.

Where is this apartment building located?

The property is located at 1505-1507 North 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 to increase rent levels through modernization.; Classic greystone architecture with well‑preserved vintage details appealing to Gold Coast renters.