Historic Mixed-Use
For Sale
$4,995,000
314 S Federal Street, Chicago, IL 60604
Flexible floor plates support office, retail, hospitality, and creative reuse concepts.
Property Size20,000 SF
Price / SF$249.75
Days on Market48
Property Features for 314 S Federal Street
General Information
Standard status
Active
Size
20,000 SF
Property subtype
Commercial
Zoning
DC-16
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$103,825
Amenities
Central air
3 Fireplaces
Central Individual Cooling
Building Details
Year Built
1912
Buildings
1
Stories
7
Building Size
20,000 SF
Listing Agency:
THE NAV AGENCY
(650) 740-9437
Listed By:
CHRISTOPHER KATSULIS
Source:
Corcoran
Added: Sep 2
Changed: Oct 19
Last Checked: Oct 19 at 6:56AM
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 THE NAV AGENCY
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Investment Insights
Based on property information with market context.
Constructed in 1912, this historic mixed-use property at 314 S Federal Street includes seven 2,500-square-foot floors and a fully built-out 2,500-square-foot lower level. The building’s organized floor plates and subterranean space support a range of redevelopment concepts, including office, coworking, hospitality, restaurant, retail, media production, and residential uses described for the property. DC-16 zoning allows vertical expansion of up to nine additional stories.
The property sits in Downtown Chicago’s Financial District near LaSalle Street, with direct adjacency to a large public parking garage along its south wall. Jackson and Dearborn CTA transit hubs are nearby, serving the Blue, Brown, Orange, Pink, and Purple lines. Regional roadway access includes I-290, I-90/94, and DuSable Lake Shore Drive.
The property sits in Downtown Chicago’s Financial District near LaSalle Street, with direct adjacency to a large public parking garage along its south wall. Jackson and Dearborn CTA transit hubs are nearby, serving the Blue, Brown, Orange, Pink, and Purple lines. Regional roadway access includes I-290, I-90/94, and DuSable Lake Shore Drive.
Key Highlights
- Seven 2,500‑square‑foot floors plus a fully built‑out 2,500‑square‑foot lower level
- DC‑16 zoning allows vertical expansion of up to nine additional stories
- Historic property constructed in 1912
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$429,120
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,582,400
$8.6M
Cap Rate 7%
$6,130,286
$6.1M
Cap Rate 9%
$4,768,000
$4.8M
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$768.0K $38.40/SF
− Vacancy
−$195.8K −$9.79/SF
EGI
$572.2K $28.61/SF
− OpEx
−$143.0K −$7.15/SF
NOI
$429.1K $21.46/SF
Area
Chicago, IL
Vacancy
25.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,582,400
Cap Rate 7%
$6,130,286
Cap Rate 9%
$4,768,000
Alternative Uses
Best Use
Office B
$6.13M
$5.36M – $7.15M
NOI $429,120 @ 7.0% cap · market cap 8.59%
Second Best
Mixed Use
$4.82M
$4.22M – $5.63M
NOI $337,500 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$9.43M
$8.25M – $11.00M
NOI $660,096 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
34,773
Businesses Nearby
Explore this area
Business Placement
Demographics for 60604, IL
897
Population
510
Households
1.8
Avg Household Size
34
Median Age
96%
College-Educated
98%
High-School Grad
0.1 sq mi
ZIP Area
8,970
Density / Sq Mi
$77,806
Median Household Income
$54,030
Median Earnings
$2,500
Median Rent
$577,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Chicago, IL
Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible floor plates support office, retail, hospitality, and creative reuse concepts.
Where is this mixed-use property located?
The property is located at 314 S Federal Street Chicago, IL.
What is the asking price?
The asking price for this property is $4,995,000.
What are key features of this property?
This property features: Seven 2,500‑square‑foot floors plus a fully built‑out 2,500‑square‑foot lower level; DC‑16 zoning allows vertical expansion of up to nine additional stories; Historic property constructed in 1912
