River North Retail/Office
For Sale
Contact for pricing
325 N Wells, Chicago, IL 60654
Rare opportunity: retail/office condo with Chicago River views.
Property Size13,000 SF
Price / SF$615.38
Days on Market211
Property Features for 325 N Wells
General Information
Standard status
Active
Size
13,000 SF
Class
A
Property subtype
Retail, Office
Zoning
DC-16
Occupancy
60%
Investment Type
Owner/User
Building Details
Year Built
1911
Year Renovated
2013
Stories
11
Tenancy
Multi
Listing Agency:
Stone Real Estate
Listed By:
Noah O'Neill · License #IL
(312) 527-6200
Source:
Crexi
Added: Mar 9
Changed: Oct 3
Last Checked: Oct 4 at 6:32AM
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 Stone Real Estate
Investment Insights
Based on property information with market context.
This commercial property is a retail and office condominium located in the River North neighborhood of downtown Chicago. The property, totaling 31,757 square feet, is situated across from the Merchandise Mart. A portion of the property, approximately 13,000 square feet, is available for immediate occupancy by a user. This vacant space is move-in ready and features showroom and office areas with floor-to-ceiling windows, providing ample natural light and views. The remaining square footage is currently under lease for a period of 1 to 7 years. The property offers views of the Chicago River, outdoor space, and its own boat dock.
Key Highlights
- Rare opportunity to acquire a portion (~13,000 sf) of a large retail/office condo in River North.
- Move‑in ready showroom/office space with floor‑to‑ceiling windows and abundant natural light.
- Immaculate views of the Chicago River with outdoor space and private boat dock.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$278,928
Cap Rate
3.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,578,560
$5.6M
Cap Rate 7%
$3,984,686
$4.0M
Cap Rate 9%
$3,099,200
$3.1M
Market Conditions
NOI Build-Up for 13,000 SF
Gross rent
$499.2K $38.40/SF
− Vacancy
−$127.3K −$9.79/SF
EGI
$371.9K $28.61/SF
− OpEx
−$93.0K −$7.15/SF
NOI
$278.9K $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%
$5,578,560
Cap Rate 7%
$3,984,686
Cap Rate 9%
$3,099,200
Alternative Uses
Best Use
Office B
$3.98M
$3.49M – $4.65M
NOI $278,928 @ 7.0% cap · market cap 3.49%
Second Best
Retail
$2.57M
$2.25M – $3.00M
NOI $179,852 @ 7.0% cap · market cap 2.25%
Theoretical Best
Office A
$6.13M
$5.36M – $7.15M
NOI $429,062 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
41,747
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60654, IL
23,890
Population
17,960
Households
1.3
Avg Household Size
34
Median Age
92%
College-Educated
99%
High-School Grad
0.5 sq mi
ZIP Area
47,780
Density / Sq Mi
$144,831
Median Household Income
$106,856
Median Earnings
$2,571
Median Rent
$495,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Showroom - Rare opportunity: retail/office condo with Chicago River views.
Where is this showroom located?
The property is located at 325 N Wells Chicago, IL.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: Rare opportunity to acquire a portion (~13,000 sf) of a large retail/office condo in River North.; Move‑in ready showroom/office space with floor‑to‑ceiling windows and abundant natural light.; Immaculate views of the Chicago River with outdoor space and private boat dock.
