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    159 Kinzie St Chicago, IL 60654

    Sponsored
    For Sale
    $5,695,000

    Chicago's River North: 23,500 SF, Value-Add

    Property size:
    23,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Chicago property, located at 159 W Kinzie St, presents a compelling value-add investment opportunity. The 23,500 square foot building sits on a 6,600 square foot lot and offers a versatile layout suitable for various uses, including bar, executive office, and creative office spaces. Currently vacant, this five-story structure, built in 1907, is zoned DC-12, providing flexibility for adaptive reuse. Its prime location in the heart of River North, within walking distance of the Merchandise Mart and public transportation (Brown, Purple, and L lines), offers unparalleled access to Chicago's central business district and its vibrant amenities. The property benefits from a strategic position near the Chicago River, surrounded by restaurants, bars, and residential buildings. Significant value-add potential exists, highlighted by the presence of loading docks and full-depth basements, allowing for creative expansion and modernization. The asking price is $5,695,000. This property represents a rare chance to acquire a substantial mixed-use building in one of Chicago's most sought-after neighborhoods. The APN is 17-09-404-005-0000

    Property Features for 159 Kinzie St

    General Information

    Property type
    Restaurants
    Square Feet
    23,500 SF
    Class
    C

    Building Details

    Year Built
    1907
    Stories
    5

    HighLights

    • Prime River North location, Chicago.
    • One block from Merchandise Mart & Brown/Purple Line "L" trains.
    • Near the Chicago River and the Loop.
    • Abundant nearby restaurants, bars, condos, and apartments.
    • Excellent public transportation access.
    • Value‑add potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Food Market Clothing Store 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
    -87.6333335
    Latitude
    41.888878

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    FAQs

    What type of property is this?
    Restaurant - Chicago's River North: 23,500 SF, Value-Add
    Where is this restaurant located?
    The property is located at 159 Kinzie St Chicago, IL.
    What is the asking price?
    The asking price for this property is $5,695,000.
    What are key features of this property?
    This property features: Prime River North location, Chicago.; One block from Merchandise Mart & Brown/Purple Line "L" trains.; Near the Chicago River and the Loop.
    Request Owner's contact information
    159 Kinzie 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
    159 Kinzie St Chicago, IL 60654
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