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    OFF-MARKET
    Office Spaces

    3201 Arthington St, Chicago, IL 60624

    550,000 SF
    Property ID
    Property summary
    AI-generated overview

    This exceptional redevelopment opportunity encompasses a significant portfolio in Chicago's Homan Square, offering a unique blend of historical significance and future potential. The core of the offering includes two prominent buildings: the landmark five-story Sears, Roebuck and Company Administration Building, a stunning example of classical revival architecture, and the ten-story former Allstate Headquarters building. Both structures are situated on a substantial site at 3201 W Arthington St, Chicago, IL 60624, with additional land parcels available for parking expansion or ground-up development. The total square footage across the three buildings and land parcels is 550,000 square feet. The property is zoned PD-971, allowing for a variety of development options. The Sears building, constructed in 1905 and designated a Chicago Landmark in 2002, served as the company's executive headquarters until 1973. Its prime location offers convenient access to public transportation, being within walking distance of the Kenzie-Homan CTA Blue Line station and the I-290 Expressway. This multi-building portfolio presents a rare chance to acquire a substantial, mixed-use property with significant historical value and considerable redevelopment potential. Multiple purchase options exist, including the acquisition of the entire portfolio or individual buildings. The property's size and location, combined with potential tax incentives, make this an attractive investment for developers seeking a large-scale project in a rapidly developing area of Chicago. Detailed information is available upon request.

    Property profile
    Verified
    Property type Office Spaces
    Total area 550,000 SF
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
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