Storefront Property with Central
New
For Sale
$2,100,000
642 N DEARBORN Street, Chicago, IL 60654
Central air serves the interior, and the property is zoned MULTI.
Property Size6,100 SF
Days on Market5
Property Features for 642 N DEARBORN Street
General Information
Standard status
Active
Size
6,100 SF
Zoning
MULTI
Net Operating Income
$148,318
Site & Location
Neighborhood
Near North Side
Taxes and HOA fees
Annual Taxes
$36,329
Amenities
Central Air
Building Details
Building Size
6,100 SF
Year Built
1872
Stories
4
Listing Agency:
Jameson Real Estate LLC
Listed By:
Oltita Brennan
(773) 877-0548
Source:
Evrealestate
Added: Oct 25
Changed: Oct 28
Last Checked: Oct 28 at 3:44PM
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 Jameson Real Estate LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This storefront property at 642 N Dearborn Street in Chicago includes central air. The building dates to 1872 and carries MULTI zoning.
Key Highlights
- Central air conditioning
- MULTI zoning
- Built in 1872
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,392
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,687,840
$1.7M
Cap Rate 7%
$1,205,600
$1.2M
Cap Rate 9%
$937,689
$937.7K
Market Conditions
NOI Build-Up for 6,100 SF
Gross rent
$131.8K $21.60/SF
− Vacancy
−$11.2K −$1.84/SF
EGI
$120.6K $19.76/SF
− OpEx
−$36.2K −$5.93/SF
NOI
$84.4K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,687,840
Cap Rate 7%
$1,205,600
Cap Rate 9%
$937,689
Alternative Uses
Best Use
Retail
$1.21M
$1.05M – $1.41M
NOI $84,392 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,329 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
32,702
Businesses Nearby
691k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Apparel 20%
Hotels & Casinos 18%
Shops & Services 6%
Nordstrom
Apparel
136,729 visits/mo
0.2 miles
Starbucks
Dining
132,317 visits/mo
0.3 miles
McDonald's
Dining
65,567 visits/mo
0.1 miles
McDonald's
Dining
52,443 visits/mo
0.3 miles
theWit Chicago - a DoubleTree by Hilton Hotel
Hotels & Casinos
35,939 visits/mo
0.5 miles
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 Retail in Chicago, IL
Similar Off Market Nearby
- Sweet Fleur Floristry — 200 N Dearborn St, Chicago, IL 60601
- E A Barin Flowers Inc — 222 W Merchandise Mart Plaza, Chicago, IL 60654
- Fleur Tatious Designs Ltd — 303 E Wacker Dr # C-16, Chicago, IL 60601
- Jolie Fleur Ltd — 444 N Wabash Ave, Chicago, IL 60611
- Babylon Garden — 500 N Michigan Ave UNIT 600, Chicago, IL 60611
Frequently Asked Questions
What type of property is this?
Storefront property - Central air serves the interior, and the property is zoned MULTI.
Where is this storefront property located?
The property is located at 642 N DEARBORN Street Chicago, IL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Central air conditioning; MULTI zoning; Built in 1872
