Renovated Mixed-Use Hospitality
For Sale
$10,500,000
310 S Halsted St, Chicago, IL 60661
Four-story property combines a renovated hostel operation with a fully equipped restaurant space and basement storage.
Property Size27,404 SF
Lot Size0.14 Acres
Price / SF$383.16
Days on Market49
Property Features for 310 S Halsted St
General Information
Standard status
Active
Size
27,404 SF
Lot size
0.14 Acres
Zoning
DX-5
Restaurant
Commercial Hood
Yes
Equipment Included
Yes
Building Details
Year Built
1864
Buildings
1
Stories
4
Listing Agency:
Baird & Warner
Listed By:
Nicholas Colagiovanni · License #475132688
(312) 501-5151
Source:
Realtopiare
Added: Aug 30
Changed: Oct 9
Last Checked: Oct 7 at 2:16PM
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 Baird & Warner
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Investment Insights
Based on property information with market context.
This four-story mixed-use property with a full basement combines hospitality accommodations and restaurant improvements. The upper three floors contain a renovated European-style hostel with contemporary sleeping rooms, shared bathrooms, modern furnishings, charging stations, lockers, and desk surfaces. The first floor provides a 5,000 square foot restaurant area with an intact commercial kitchen, black iron exhaust system, and operational equipment. Basement space supports restaurant storage, refrigeration, freezer capacity, liquor storage, and housekeeping laundry equipment.
The building was erected in 1864 and encompasses 27,404 square feet on a 6,250 land square foot parcel at 310 S Halsted St in Chicago. Capital work includes tuck pointing, replacement of the west-side brick wall, a coated rubber roof, copper plumbing, updated mechanical systems, and partially separated utility meters. Additional infrastructure includes three hot water tanks, two sump pumps, a property-wide camera and security system, and an RMS booking and accounting system for hostel operations. The property is zoned DX-5.
The building was erected in 1864 and encompasses 27,404 square feet on a 6,250 land square foot parcel at 310 S Halsted St in Chicago. Capital work includes tuck pointing, replacement of the west-side brick wall, a coated rubber roof, copper plumbing, updated mechanical systems, and partially separated utility meters. Additional infrastructure includes three hot water tanks, two sump pumps, a property-wide camera and security system, and an RMS booking and accounting system for hostel operations. The property is zoned DX-5.
Key Highlights
- Mixed‑use building at 310 S Halsted St, Chicago, IL 60661
- 27,404 square foot building on 6,250 land square feet
- Over 140 beds across the renovated hostel floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$510,043
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,200,860
$10.2M
Cap Rate 7%
$7,286,329
$7.3M
Cap Rate 9%
$5,667,144
$5.7M
Market Conditions
NOI Build-Up for 27,404 SF
Gross rent
$723.5K $26.40/SF
− Vacancy
−$43.4K −$1.58/SF
EGI
$680.1K $24.82/SF
− OpEx
−$170.0K −$6.20/SF
NOI
$510.0K $18.61/SF
Area
Chicago, IL
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,200,860
Cap Rate 7%
$7,286,329
Cap Rate 9%
$5,667,144
Alternative Uses
Best Use
Specialty Retail
$7.29M
$6.38M – $8.50M
NOI $510,043 @ 7.0% cap · market cap 4.86%
Second Best
Mixed Use
$6.61M
$5.78M – $7.71M
NOI $462,443 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$12.92M
$11.31M – $15.07M
NOI $904,464 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
15,560
Businesses Nearby
292k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 39%
Groceries 37%
Hotels & Casinos 11%
Dining 6%
Target
Superstores
112,849 visits/mo
0.5 miles
H Mart
Groceries
57,270 visits/mo
0.1 miles
Whole Foods Market
Groceries
48,567 visits/mo
0.3 miles
Hampton Inn Chicago Downtown West Loop
Hotels & Casinos
16,073 visits/mo
0.4 miles
Crowne Plaza Chicago West Loop
Hotels & Casinos
10,607 visits/mo
0.2 miles
Demographics for 60661, IL
11,987
Population
8,049
Households
1.5
Avg Household Size
32
Median Age
88%
College-Educated
99%
High-School Grad
0.3 sq mi
ZIP Area
39,957
Density / Sq Mi
$138,831
Median Household Income
$105,935
Median Earnings
$2,403
Median Rent
$397,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Chicago, IL
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-story property combines a renovated hostel operation with a fully equipped restaurant space and basement storage.
Where is this mixed-use property located?
The property is located at 310 S Halsted St Chicago, IL.
What is the asking price?
The asking price for this property is $10,500,000.
What are key features of this property?
This property features: Mixed‑use building at 310 S Halsted St, Chicago, IL 60661; 27,404 square foot building on 6,250 land square feet; Over 140 beds across the renovated hostel floors
