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    303 Erie St Chicago, IL 60654

    For Lease
    $30 SF/Yr ($15,780 /Mo)

    Prime River North location, 6,312 sq ft.

    Lot size:
    6,312 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 6,312-square-foot retail space, located at 303 W Erie St in Chicago's vibrant River North neighborhood, presents a unique opportunity for a restaurant operator. Currently vacant, this former restaurant boasts existing infrastructure ready for immediate use, saving significant time and capital on build-out. The property enjoys a highly visible corner location at the southeast intersection of Erie Street and Franklin Street, benefiting from exceptional pedestrian and vehicular traffic. Situated in the heart of River North, the space is surrounded by a thriving mix of established retailers, including Fairground Coffee, Wildfire, and GT Prime, ensuring high foot traffic and brand synergy. The property is classified as a multi-tenant retail building within Cook County, Illinois, and offers a total of 6,312 square feet, all of which is currently available. The zip code is 60654. This prime location and existing infrastructure make this an ideal opportunity for a discerning restaurant business seeking a high-impact presence in a bustling Chicago neighborhood. The property's address is 303 W Erie St, Chicago, IL.

    Property Features for 303 Erie St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    6,312 SF
    Total Rate
    15780

    Unit(s) available at that property

    Space
    Available Space
    Size
    6,312 SF
    Rate per SF
    $30

    HighLights

    • 6,312 SF available for lease.
    • Former restaurant space at 303 W Erie St, Chicago, IL (River North), corner of Erie & Franklin Streets.
    • High‑traffic location near Fairground Coffee, Wildfire, and GT Prime.
    • Excellent visibility and pedestrian/vehicular traffic.
    • Existing restaurant infrastructure in place.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rolam Equities Consultant Eric Spengel - Aflac ... Insurance Agency Rinaldi & Associates Inc. Attorney National Council of La ... Social Services Organization Facility Flooring Flooring Contractor

    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
    -87.6359806
    Latitude
    41.8937679

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    FAQs

    What type of property is this?
    Restaurant - Prime River North location, 6,312 sq ft.
    Where is this restaurant located?
    The property is located at 303 Erie St Chicago, IL.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: 6,312 SF available for lease.; Former restaurant space at 303 W Erie St, Chicago, IL (River North), corner of Erie & Franklin Streets.; High-traffic location near Fairground Coffee, Wildfire, and GT Prime.
    Request Owner's contact information
    303 Erie St Chicago, IL 60654
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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
    303 Erie St Chicago, IL 60654
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