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    50 Chicago Ave Chicago, IL 60611

    Sponsored
    For Lease
    Contact for pricing

    Prime River North location, 3 spaces, restaurant-ready.

    Lot size:
    68,170 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional River North retail opportunity presents three available spaces totaling 5,729 square feet of vacant space within a 68,170 square foot, four-story Class B building at 50 East Chicago Avenue. Built in 1891, this multi-tenant property boasts a highly desirable location at the intersection of River North, the Gold Coast, and North Michigan Avenue, ensuring significant foot traffic from a diverse mix of workers, shoppers, residents, and tourists. Spaces range from a minimum of 765 square feet to a maximum contiguous area of 2,040 square feet. Three distinct spaces are available: Space A, a former Wow Bao location, is fully built-out with existing restaurant infrastructure and equipment and is immediately available. Space B, a former Starbucks location situated on a hard corner, will be available in 60 days. Space C, currently occupied by Ups, will also be available in 60 days. All spaces are first-floor walk-ups, ideal for retail or restaurant use, and benefit from the high volume of pedestrian traffic characteristic of this vibrant area within Cook County. This is a unique chance to secure prime retail space in one of Chicago's most sought-after neighborhoods.

    Property Features for 50 Chicago Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    68,170 SF
    Class
    B

    Building Details

    Year Built
    1891
    Stories
    4

    Unit(s) available at that property

    Space
    Space A
    Size
    1,462 SF
    Space
    Space C
    Size
    765 SF
    Space
    Space B
    Size
    2,040 SF

    HighLights

    • Retail/Restaurant space in River North's prime location, at the junction of River North, Gold Coast, and North Michigan Avenue.
    • 68,170 total square feet, Class B building, built in 1891, four stories.
    • Multiple tenancies available, with spaces ranging from 765 to 2,040 contiguous square feet; 5,729 square feet currently vacant.
    • Three spaces available: Space A (former Wow Bao, fully built‑out); Space B (former Starbucks, hard corner); and Space C (currently occupied by Upscale).
    • Located in Cook County.
    Property Profile Location Intelligence

    Current Use by Public Records

    MyEyeDr. Eye Care Center Lisanne Close Rogers Optician Keycafe Kiosk Streeter's Tavern Bar

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.626313411762
    Latitude
    41.896678668301

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    FAQs

    What type of property is this?
    Restaurant - Prime River North location, 3 spaces, restaurant-ready.
    Where is this restaurant located?
    The property is located at 50 Chicago Ave Chicago, IL.
    What are key features of this property?
    This property features: Retail/Restaurant space in River North's prime location, at the junction of River North, Gold Coast, and North Michigan Avenue.; 68,170 total square feet, Class B building, built in 1891, four stories.; Multiple tenancies available, with spaces ranging from 765 to 2,040 contiguous square feet; 5,729 square feet currently vacant.
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    50 Chicago Ave Chicago, IL 60611
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    Chicago, IL 60611
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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
    50 Chicago Ave Chicago, IL 60611
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