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Property profile & analytics

853 Larrabee St Chicago, IL 60610

  • Commercial real estate
  • 37,000 SF
OFF-MARKET
Value Estimations
Cap Rate Potential
Location Intelligence
Property ID
US28-5762370
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

  • 853 North Larrabee / Apartment Building
  • Print With Me Printer at Dollop Larrabee / Print Shop / Copy Shop
  • Smoke Outlet - River North / Smoke Shop

Property Details for 853 Larrabee St

Year built
2018
Property size
37,000 SF
Property type
Commercial real estate
APN
17-04-324-117-0000

Description

This exceptional Class A mixed-use property, located in Chicago's desirable River North neighborhood at 853 N Larrabee St (APN 17-04-324-117-0000), offers a compelling investment opportunity. Built in 2018, this four-story building boasts 37,000 square feet, with 32,398 square feet of net rentable space. The property features 45 units: thirteen studios, twenty-three one-bedroom/one-bathroom apartments, and six one-bedroom/one-bathroom apartments with dens. All units are currently 100% occupied, featuring modern kitchens, bathrooms, HVAC systems, and in-unit laundry. The ground floor comprises three retail spaces leased to established businesses: a cooking school, an insurance provider, and a smoke shop. Residents enjoy convenient access to an indoor parking garage with 37 spaces, an on-site gym, and an indoor bike garage. The property's strong financials include a current NOI of $851,053 and a pro-forma NOI of $968,789, resulting in a current cap rate of 5.67% and a pro-forma cap rate of 6.46%. The asking price is $15,000,000, representing a price per square foot of $405.41 and a price per unit of $333,333.33. This fee-simple ownership opportunity benefits from a prime location near public transit and surrounded by luxury residential developments and a large office building. The tenants are credit-rated and include franchisees, ensuring a stable income stream. The lease type is NNN.


Value Estimations

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Location Insight

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  • Local Demand
City
Chicago
County
Cook
State
Illinois
Longitude
-87.6428965
Latitude
41.898104
More about this property
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