420 Huron St 1 Chicago, IL 60654-8475
Entity Owned
Free & Clear
Estimated value (blended)
$5.56M
Range $5.00M – $6.11M (±10%)
Property ID
US28-1211433
Property summary
AI-generated overview
This exceptional River North office building at 420 W Huron St, Chicago, IL 60654 presents a compelling investment opportunity. The property, encompassing 30,918 square feet across four stories, features 87 units and boasts a blend of creative, executive, and traditional office spaces. Built in 1929 and extensively renovated in 2017, the building sits on a 7,106 square foot lot and is zoned PMD. Currently operating at 30% occupancy with a projected vacancy date of October 30, 2024, this presents a significant value-add potential for an owner-user or investor seeking portfolio expansion. The net rentable area totals 22,605 square feet. The property is offered for sale by owner at $4,500,000, and seller financing may be available. This multi-tenant building offers a unique chance to capitalize on the vibrant River North market. The property's multiple APNs are 17-09-120-015-1001, 17-09-120-015-1002, 17-09-120-015-1003, and 17-09-120-015-1004. The gross lease structure provides a straightforward income stream. This is an ideal opportunity to leverage seller financing to maximize returns and build equity.
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1914
Total area
28,100 SF
Lot
0.17 ac (7,200 SF)
APN
17-09-120-015-1001
UPID
US28-1211433
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
-
Food Processing Plant
-
Life Coach
-
Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Law Firm
-
Marketing & Advertising (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.65M
Blend (final)
Blend
$5.56M
Owner & transaction history
since 2026
Last sale
$3.2M
7 recorded transactions
Zoning & alternative use
Top alternative use upside
Apartment house (5+ units)
$4.8M
+13.1%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
3 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$5.56M
Value range
$5.00M – $6.11M
±10% around blend
Estimated value / SF
$198 / SF
Confidence
None
2 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
20
$5.00M
blend $5.56M
$6.11M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
28,100 SF
Lot area
0.17 ac
Year built
1914
Stories
4
APN
17-09-120-015-1001
Assessed value
$461,945
Annual tax
$95,014
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$2.65M
Weighted, 0 comps · none confidence
Evidence
2 found
County-verified recorded sales
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$5.56M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 21 sales
$152
+30%
Submarket 152 sales
$135
+47%
County 159 sales
$134
+48%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $198/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Apartment House (5+ Units)
Gross theoretical uplift
+13%
vs current-use indication
Office Building · current use
Retail Stores
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 2 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$3.15M
Move the market yield to see immediate price impact.
Value / SF
$112
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$198k
$3.97M
$2.83M
$2.21M
$221k
$4.41M
$3.15M
$2.45M
$243k
$4.85M
$3.46M
$2.70M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
2 found
None confidence · county-verified
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$95,014
Tax year 2022
Assessed value
$461,945
Assessed 2022
Previous assessed
$461,945
+0.0% YoY
Effective rate
20.57%
On assessed value
Assessed land
$121,752
Assessed improvement
$340,193
Land market value
$487,008
Improvement market value
$1,360,772
Total market value
$1,847,780
Applied tax rate
74,015.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1914
Heating
NONE
Stories
4
Total area
28,100 SF
Lot
0.17 ac (7,200 SF)
APN
17-09-120-015-1001
UPID
US28-1211433
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1914
Heating
NONE
Stories
4
Lot
0.17 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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