Four-Story Mixed-Use
For Sale
Contact for pricing
165-167 N May Street, Chicago, IL 60607
Historic masonry construction and C1-2 zoning create a foundation for adaptive reuse in Chicago’s West Loop/Fulton Market district.
Property Size30,000 SF
Price / SF$243.33
Days on Market103
Property Features for 165-167 N May Street
General Information
Standard status
Active
Size
30,000 SF
Total Parking Spaces
26
Property subtype
Mixed Use
Zoning
C1-2
Investment Type
Redevelopment
Building Details
Buildings
1
Stories
4
Construction
brick and stone
Listing Agency:
JOS. Cacciatore & Co. Real Estate
Listed By:
Peter Cacciatore · License #IL
(312) 264-6027
Source:
Crexi
Added: Jun 30
Changed: Oct 3
Last Checked: Oct 9 at 5:41PM
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 JOS. Cacciatore & Co. Real Estate
Investment Insights
Based on property information with market context.
Located at 165-167 N. May Street in Chicago, this four-level property features brick-and-stone construction and a historic architectural character. The building is identified for adaptive reuse within a mixed-use framework and offers substantial scale for a redevelopment project.
C1-2 zoning and the property's West Loop/Fulton Market setting support the stated redevelopment concepts, including apartments, restaurant space, and a rooftop amenity. The asset may suit investors, developers, or owner-users pursuing a mixed-use project with residential and experiential commercial components.
C1-2 zoning and the property's West Loop/Fulton Market setting support the stated redevelopment concepts, including apartments, restaurant space, and a rooftop amenity. The asset may suit investors, developers, or owner-users pursuing a mixed-use project with residential and experiential commercial components.
Key Highlights
- Four‑story building with brick‑and‑stone construction
- 30,000 property size
- C1‑2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$506,250
Cap Rate
6.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,125,000
$10.1M
Cap Rate 7%
$7,232,143
$7.2M
Cap Rate 9%
$5,625,000
$5.6M
Market Conditions
NOI Build-Up for 30,000 SF
Gross rent
$900.0K $30.00/SF
− Vacancy
−$90.0K −$3.00/SF
EGI
$810.0K $27.00/SF
− OpEx
−$303.8K −$10.13/SF
NOI
$506.3K $16.88/SF
Area
Chicago, IL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,125,000
Cap Rate 7%
$7,232,143
Cap Rate 9%
$5,625,000
Alternative Uses
Best Use
Mixed Use
$7.23M
$6.33M – $8.44M
NOI $506,250 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.14M
$12.38M – $16.50M
NOI $990,144 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,016
Businesses Nearby
Explore this area
Business Placement
Demographics for 60607, IL
31,816
Population
16,540
Households
1.9
Avg Household Size
31
Median Age
81%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
13,833
Density / Sq Mi
$126,307
Median Household Income
$79,870
Median Earnings
$2,333
Median Rent
$494,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic masonry construction and C1-2 zoning create a foundation for adaptive reuse in Chicago’s West Loop/Fulton Market district.
Where is this mixed-use property located?
The property is located at 165-167 N May Street Chicago, IL.
What is the asking price?
The asking price for this property is $7,300,000.
What are key features of this property?
This property features: Four‑story building with brick‑and‑stone construction; 30,000 property size; C1‑2 zoning
