Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    62 Huron St Fl 2b Chicago, IL 60654-3876

    • Office Properties & Spaces
    • 3,400 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimations
    $480,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1274882
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Flashlight Studio / Photography Studio
    • City Properties Corporation / Real Estate Agency
    • Dupuis Group / Advertising Agency
    • Health Law Consultancy / Law Firm / Legal Services
    • creative arts consulting / Graphic Designer

    Property Details for 62 Huron St Fl 2b

    Year built
    1918
    Lot size
    0.11 lot acres
    Property size
    3,400 SF
    Property type
    Office Properties & Spaces
    APN
    17-09-212-026-1004
    APU
    17092120261004

    Description

    This stunning 3,000 square foot creative office space, located at 62 W Huron St in Chicago's River North neighborhood, is situated on the top floor of a four-story building. Built in 1900 and extensively renovated in 2010 and 2016, this Class B property offers a unique blend of vintage charm and modern functionality. Currently configured as a photography studio, the space includes a fully functional audio studio, a convenient kitchenette, and two restrooms. The layout features a mix of open areas perfect for collaboration and private offices for focused work. A charming, working fireplace adds to the warm and inviting atmosphere. The space is ideal for a variety of creative businesses, including marketing, advertising, media, or other professional office uses. The property is zoned DX-5 and consists of one unit within a single building. Its prime location in River North offers unparalleled access to Chicago's vibrant cultural scene and convenient transportation options. This one-of-a-kind opportunity is perfect for an owner/user seeking a unique and inspiring workspace. The net rentable area is 3,000 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $385,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $580,000
      Market price range: $190k - $798k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $515,000
      Current use
      RETAIL STORES
      $495,000
      Change: -4% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6306
    Latitude
    41.8951
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $20,844
    $36,562
    $64,778
    $101,340
    -
    $146,248
    $259,112
    $405,360

    Comparable in this City

    • Value Estimation by Request
      9,500 SF

      670 Hubbard St

      Retail properties • 9,500 SF
      670 Hubbard St, Chicago, IL 60654
      View Details
    • Value Estimation
      $430,000
      0.36 Acres

      325 Wls St Ste, Unit 210

      CONDOMINIUM OFFICES • 0.36 Acres
      325 Wls St Ste, Chicago, IL 60654-7023
      View Details
    • Value Estimation
      $270,000
      0.38 Acres

      209 Ohio St

      CONDOMINIUM OFFICES • 0.38 Acres
      209 Ohio St, Chicago, IL 60654-9207
      View Details
    • Value Estimation
      $490,000
      3,400 SF

      62 Huron St Fl 3a

      CONDOMINIUM OFFICES • 3,400 SF
      62 Huron St Fl 3a, Chicago, IL 60654-3876
      View Details
    • Value Estimation by Request

      300 Ontario St

      CONDOMINIUM OFFICES
      300 Ontario St, Chicago, IL 60654-3907
      View Details
    • Value Estimation by Request

      300 Ontario St

      CONDOMINIUM OFFICES
      300 Ontario St, Chicago, IL 60654-3907
      View Details

    Similar Nearby for Sale

    • $5,695,000
      23,500 SF

      River North Mixed-Use Opportunity

      Chicago's River North: 23,500 SF, Value-Add
      159 Kinzie St, Chicago, IL 60654
      View Details
    • Contact for pricing
      9,500 SF

      Hubbard Street Executive Offices

      9,500 SF Office Building, Chicago
      670 Hubbard St, Chicago, IL 60654
      View Details
    • Contact for pricing
      42,000 SF

      River North Redevelopment Opportunity

      Vacant office building with redevelopment potential in Chicago's River North.
      225 W Superior St, Chicago, IL 60654
      View Details
    • $1,195,000

      River North Boutique Office Building

      Renovated multi-story office building with in-place income in River North.
      445 N La Salle St, Chicago, IL 60654
      View Details
    • $2,750,000

      River North Boutique Office Building

      Boutique single-user office building in River North, gut renovated.
      154 W Superior St, Chicago, IL 60654
      View Details
    • Contact for pricing
      5,400 SF

      Renovated Office Building For Sale

      Three-story, 5,400 SF office building with Verizon cell tower lease.
      445 N La Salle Dr, Chicago, IL 60654
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      4,106 SF

      Prime Chicago Executive Suites

      Luxury Offices, 4106 sq ft Available
      10-18 Hubbard St, Chicago, IL 60654
      View Details
    • $20 SF/Yr
      2,400 SF

      River North Executive Office Suite

      Prime River North office space, 2400 sq ft.
      770 La Salle St, Chicago, IL 60654
      View Details
    • $24 SF/Yr
      2,046 SF

      Grand Ave Office Space - River North

      Historic Charm, Modern Office, 2,046 SF
      162 Grand Ave, Chicago, IL 60654
      View Details
    • $20 SF/Yr
      9,750 SF

      Prime Chicago Executive Suites

      9,750 SF Office Space Available
      11 Hubbard St, Chicago, IL 60654
      View Details
    • $20 SF/Yr
      14,182 SF

      River North Executive Office Suites

      Fully renovated loft office space in prime location.
      219 Chicago Ave, Chicago, IL 60654
      View Details
    • $27 SF/Yr
      33,295 SF

      River North Executive Office Suites

      Prestigious River North Office Space Available
      650 Dearborn St, Chicago, IL 60654
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    62 Huron St Fl 2b
    Chicago, IL 60654-3876
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.