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    6 Monroe St Chicago, IL 60603

    Sponsored
    For Sale
    $495,000

    Full-floor, live/work potential

    Property size:
    3,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This stunning 3,000 square foot condominium, located in the historic Mentor Building at 6 E Monroe St, Chicago, IL 60603, offers a unique opportunity to own a full floor in the heart of the city. The 17-story building boasts a prime downtown location, steps from Millennium Park, The Art Institute of Chicago, and a wealth of amenities including theaters, hotels, shopping, and restaurants. This light-filled space features private elevator entry, high-end finishes, floor-to-ceiling windows offering incredible views, 10-12' ceiling heights, and hardwood floors. The unit also benefits from shared amenities such as a rooftop deck and gym. Built in 1910, this adaptable space is ideal for live/work use, a high-end office, or conversion into a luxurious two or three-bedroom residence. Floor plans are available. Monthly assessments are $2,537.64 (including all utilities except electricity), and 2023 real estate taxes were $31,056.27 (with a residential use estimate of $12,000). The property's central location provides easy access to public transportation and is surrounded by prominent institutions such as DePaul University, The School of the Art Institute of Chicago, and the Chicago Symphony Orchestra. This exceptional property presents a rare opportunity to acquire a sophisticated and versatile space in one of Chicago's most desirable locations. Individual storage lockers and bike storage are also available.

    Property Features for 6 Monroe St

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,000 SF

    Building Details

    Year Built
    1910
    Stories
    17

    HighLights

    • 3,000 SF full‑floor condominium in the historic Mentor Building, Chicago, IL.
    • Ideal live/work space, easily convertible to residential use.
    • Prime downtown location near Millennium Park and The Art Institute of Chicago.
    • Monthly assessments: $2,537.64 (includes all utilities except electricity); 2023 real estate taxes: $31,056.27 (residential estimate: $12,000).
    • Asking price: $495,000 ($165/SF).
    Property Profile Location Intelligence

    Current Use by Public Records

    Gillespie Law Group, ... Attorney iIstitute of Compliance and Learning Consultant George Locksmith Corp. ... Locksmith C.H. Johnson Consulting Real Estate Consultant The Mentor Building Apartment Building

    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
    -87.627780253029
    Latitude
    41.880740126551

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    FAQs

    What type of property is this?
    Multifamily property - Full-floor, live/work potential
    Where is this multifamily property located?
    The property is located at 6 Monroe St Chicago, IL.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: 3,000 SF full-floor condominium in the historic Mentor Building, Chicago, IL.; Ideal live/work space, easily convertible to residential use.; Prime downtown location near Millennium Park and The Art Institute of Chicago.
    Request Owner's contact information
    6 Monroe St Chicago, IL 60603
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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
    6 Monroe St Chicago, IL 60603
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