Property profile

312 W Chestnut St Chicago, IL 60610

FOR LEASE
Motels
Property ID
US28-5755682
21,200 SF 0.26 ac lot Built 1927
Entity Owned 13-yr Hold Absentee Owner ~ Est. High Equity
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312 W Chestnut St, Chicago, IL 60610 For Lease
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312 W Chestnut St, Chicago, IL 60610
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Property summary

AI-generated overview

This exceptional retail opportunity is located at 312 West Chestnut Street in Chicago's vibrant River North submarket, within Cook County, Illinois. The property, identified as 312 West Chestnut, is a two-story commercial building totaling 33,985 square feet. Currently, a single suite of 755 square feet is available for lease, ideal for a restaurant or other commercial use. The building features convenient elevator access, a significant advantage for customers and staff. Its prime location in the bustling Downtown - River North area ensures high foot traffic and visibility, making it an attractive proposition for businesses seeking a strong presence in a high-demand market. The property's classification as both retail and restaurant-suitable opens up a wide range of potential uses. The zip code is 60610. This listing presents a unique chance to secure a well-situated space within a thriving commercial district. The building's size and amenities make it suitable for a variety of businesses seeking a prominent location in Chicago's dynamic River North neighborhood. The available space offers immediate occupancy for a discerning tenant. Interested parties are encouraged to inquire further to explore this exciting opportunity.

Property profile

Verified
Property type Motels
Use group MOTEL
Year built 1927
Total area 21,200 SF
Lot 0.26 ac (11,260 SF)
APN 17-04-437-009
UPID US28-5755682

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Hotel & Motel
  • Bar & Pub Nightclub
  • Restaurant
  • Hotel & Motel

Location

312 W Chestnut St Chicago, IL 60610
Chicago metro Census 81800 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$2.46M
Comparable Approach Comparable
$2.25M
Blend (final) Blend
$730k

Owner & transaction history

since 2012
7 recorded transactions
2015
Price N/A
2012
$1.2M
2007
$3.0M
2007
Price N/A
2007
Price N/A
2006
Price N/A
2005
$1.7M

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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