324 Chicago Ave Chicago, IL 60654

Property Details for 324 Chicago Ave

Year built

1886

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.11 lot acres

Property size

9,600 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

17-04-444-003

APU

1704444003

Description

This exceptional two-story, 9,600-square-foot freestanding building at 324 W Chicago Ave in Chicago's desirable River North neighborhood presents a unique investment opportunity. The property, situated on a 5,000-square-foot lot, boasts a C1-5 zoning designation, offering considerable flexibility for future uses. The building, renovated in 2017, includes a fully equipped and licensed nightclub with two bars, a dining area, a dance floor, and a commercial kitchen. A stunning rooftop bar and lounge, featuring a shaded pergola, bleacher seating, and large booths, accommodates over 60 guests and offers breathtaking skyline views. The second floor provides office space with up to six workstations, a residential kitchen, and a full bathroom. The basement offers ample storage, including walk-in coolers and employee lockers, along with coat check and restrooms. The property is fully sprinklered, ADA compliant, and equipped with an elevator. The sale includes Tavern, Outdoor Patio, Retail Food, and Public Place of Amusement (PPA) licenses. 2023 property taxes were $52,076. This turnkey operation is ideally positioned in a high-traffic area, offering significant potential for continued success. The building features multiple staircases for efficient customer and staff flow. This is a rare chance to acquire a thriving business in a prime Chicago location.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.6368

Latitude

41.8968

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments