Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    110 Pearson St Chicago, IL 60611
    Back to Search
    Property profile & analytics

    110 Pearson St Chicago, IL 60611

    View on Map
    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • SP+ Parking / Parking Lot & Garage
    • Mag Mile Self Park / Parking Lot & Garage

    Property Details for 110 Pearson St

    Year built
    1972
    Property type
    Retail properties & Spaces

    Description

    This exceptional 9,463 square foot retail space at 110 E Pearson St, Chicago, offers unparalleled visibility on the Magnificent Mile. Completely renovated in 2022, this single-tenant property features 72 feet of street frontage across from the Chicago Water Tower, providing tremendous signage opportunities. The space, formerly Bar Toma, is a "vanilla box" offering flexibility for various retail concepts, particularly restaurants. Ceiling heights vary, ranging from 10'0" to 15'2" on the ground floor and 7'11" to 12'9" on the mezzanine. Column spacing is generous at 16'0" vertically and 27'0" horizontally. Built in 1972, this one-story building presents a unique chance to establish a high-impact presence in one of the nation's premier shopping districts, surrounded by luxury retailers on Oak, Rush, and Walton Streets. The property's location within the Gold Coast submarket ensures high foot traffic and brand recognition. This is an exceptional investment opportunity in a highly desirable location. No parking is available on-site.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6252
    Latitude
    41.8978

    Comparable in this City

    • Value Estimation by Request
      2,555 SF

      200 Illinois St

      Restaurants • 2,555 SF
      200 Illinois St, Chicago, IL 60611
      View Details
    • Value Estimation by Request
      9,389 SF

      110 Pearson St

      Retail properties & Spaces • 9,389 SF
      110 Pearson St, Chicago, IL 60611
      View Details
    • Value Estimation by Request

      142 Ontario St

      Retail properties & Spaces
      142 Ontario St, Chicago, IL 60611
      View Details
    • Value Estimation by Request
      2,000 SF

      355 Illinois St

      Individual retail properties • 2,000 SF
      355 Illinois St, Chicago, IL 60611
      View Details
    • Value Estimation by Request

      Corner Retail Space in Streeterville

      Retail space for lease
      360 E. Ohio | Chicago, IL 60611, Chicago, IL 60611
      View Details
    • Value Estimation by Request
      68,170 SF

      50 Chicago Ave

      Restaurants • 68,170 SF
      50 Chicago Ave, Chicago, IL 60611
      View Details

    Similar Nearby for Sale

    • $18,747,747

      Prime Mixed-Use Chicago Avenue Property

      Mixed-use building in a high-traffic, desirable Chicago location.
      58 E Chicago Ave, Chicago, IL 60611
      View Details
    • $50,000

      Garage Parking Space in Chicago

      Prime parking space available for condo owners in 680 Lake.
      680 N Lake Shore Dr, Chicago, IL 60611
      View Details
    • Contact for pricing

      Prime Location Covered Parking Space

      Convenient and easily accessible covered parking space for sale.
      440 N Wabash Ave, Chicago, IL 60611
      View Details
    • Contact for pricing

      Ontario Place Garage Parking Spot

      Prime parking spot in high-demand River North location.
      10 E Ontario St, Chicago, IL 60611
      View Details
    • $36,000

      River Plaza Heated Parking Space

      Single heated parking space in River Plaza condominium garage.
      405 N Wabash Ave, Chicago, IL 60611
      View Details
    • $48,000

      Assigned Parking Space For Sale

      Single assigned parking space in enclosed, heated garage.
      405 N Wabash Ave, Chicago, IL 60611
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      34,000 SF

      Waterfront Restaurant/Hospitality Opportunity

      Unique 34,000 SF restaurant/hospitality space in Chicago's Streeterville neighborhood.
      401-465 E Illinois St, Chicago, IL 60611
      View Details
    • Contact for pricing

      Retail Space on Oak Street

      Retail property available for lease in Chicago, Illinois.
      46 East Oak St, Chicago, IL 60611
      View Details
    • Contact for pricing
      7,694 SF

      River North Restaurant Opportunity

      Restaurant space in River North near Michigan Avenue.
      58 E Ontario St, Chicago, IL 60611
      View Details
    • Contact for pricing
      18,494 SF

      Retail Space in Flourishing Streeterville

      Retail property in a rapidly growing Streeterville community.
      511 North Columbus Dr, Chicago, IL 60611
      View Details
    • Contact for pricing
      11,740 SF

      Gold Coast Restaurant Sublease Opportunity

      Second generation restaurant space in Chicago's Gold Coast neighborhood.
      41 E Chestnut St, Chicago, IL 60611
      View Details
    • $30,000
      143,900 SF

      Gold Coast Retail Space Available

      3,385 SF retail space in Chicago's prestigious Gold Coast.
      110 E Delaware Pl, Chicago, IL 60611
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    110 Pearson St
    Chicago, IL 60611
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    110 Pearson St, Chicago, IL, 60611
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!