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    320 Illinois St Chicago, IL 60654

    Sponsored
    For Lease
    Contact for pricing

    Chicago Office Space: Prime River North Location

    Lot size:
    19,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    River North Park, a 24-story building in Chicago's vibrant River North neighborhood (320 W. Illinois Street, 60654), offers exceptional office and retail space. This 19,600 square foot property, renovated in 2019, features multiple suites available, ranging from 2,998 to 6,073 contiguous square feet, with a total of 15,048 square feet currently vacant. The building boasts large windows, open interiors ideal for various uses including executive office, medical office, restaurant, or retail. Potential for black iron hookups exists. The property's prime location, just two blocks from major feeder ramps, benefits from a densely populated area with approximately 127,000 residents and 645,000 daytime employees within a one-mile radius. Current co-tenants include well-established businesses. An adjacent 211-space parking garage is available for lease. The building was originally constructed in 1985 and offers a blend of modern updates and established presence. This is a unique opportunity to secure high-visibility space in a thriving Chicago location. The minimum divisible space is 2,998 square feet. Cook County location.

    Property Features for 320 Illinois St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    19,600 SF

    Building Details

    Year Built/Renovated
    1985/2019
    Stories
    24

    Unit(s) available at that property

    Space
    Suite A
    Size
    5,977 SF
    Space
    Suite B
    Size
    2,998 SF
    Space
    Suite H
    Size
    6,073 SF

    HighLights

    • Prime River North location, two blocks from downtown feeder ramps.
    • New multifamily development driving demand for additional services.
    • Excellent ground‑floor retail/restaurant space in a new mixed‑use building with high‑end amenities.
    • Strong co‑tenancy including Orizzonti, Upscale, Domino's, Re'luxe, Ora Dental, and Pups Pet Club.
    • Flexible zoning allows for retail, restaurant, office, or medical tenants.
    • Flexible unit sizes to accommodate various tenants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Caras Law Group Personal Injury Attorney River North Park ... Condominium Rental Agency TMV Services Handyman/Handywoman/Handyperson Metrotech Design Group Interior Designer Associated Rack Corporation Business Management Consultant

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6364378
    Latitude
    41.8909349

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    FAQs

    What type of property is this?
    Restaurant - Chicago Office Space: Prime River North Location
    Where is this restaurant located?
    The property is located at 320 Illinois St Chicago, IL.
    What are key features of this property?
    This property features: Prime River North location, two blocks from downtown feeder ramps.; New multifamily development driving demand for additional services.; Excellent ground-floor retail/restaurant space in a new mixed-use building with high-end amenities.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    320 Illinois St Chicago, IL 60654
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