Property profile

435 Illinois St Chicago, IL 60611

OFF-MARKET
Commercial real estate
Property ID
US28-0301092
1.88 ac lot Built 1985
Entity Owned 13-yr Hold ~ Est. High Equity
Saved · see the list in your Dashboard

Property summary

AI-generated overview

This exceptional ±34,000 square foot, two-level restaurant and hospitality space is situated in Chicago's vibrant Streeterville neighborhood, directly beneath 285 luxury apartments. Currently configured as a fully operational, high-volume event facility, this second-generation space offers unparalleled flexibility. Easily divisible into approximately 22,500 and 11,500 square foot units, further demising is possible to create spaces of approximately 4,100, 5,300, 9,800, and 12,400 square feet. The property boasts impressive infrastructure, including multiple kitchens and bars, a large full-service main kitchen, several venting options (including a live fuel facility with a wood-burning oven), ample bathrooms, and high-capacity HVAC and electrical systems. Enjoy unique brick and timber interior aesthetics, along with a main-level outdoor deck and exclusive waterfront outdoor seating on the Ogden Slip docks – one of the only waterside dining opportunities in Chicago. The property benefits from high visibility and accessibility, with entrances and signage on both Illinois Street and Ogden Slip. Located one block from Navy Pier, this high-profile location experiences over two million unique pedestrian visits annually. Strong co-tenancy includes Target, Carson's Ribs, Cupitol, Robert's Pizza, Pinched Mediterranean Restaurant, Whole Foods, Kanela, Yolk, and Wu's Korean BBQ (coming soon). The site sits on a 2.76-acre lot and is zoned PD-368/DX-12 in Cook County. Available February 2025. On-site parking is available.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1985
Lot 1.88 ac (81,893 SF)
APN 17-10-219-024
UPID US28-0301092

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
  • Take-out & Catering Catering Service
  • Art Gallery
  • Art Gallery
  • Art Gallery

Location

435 Illinois St Chicago, IL 60611-4305
Chicago metro Census 81402 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$695k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$695k

Owner & transaction history

since 2013
7 recorded transactions
2023
Price N/A
2013
$34.8M
2008
Price N/A
2004
Price N/A
2003
$3.2M
2002
$6,500
1969
Price N/A

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
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 435 Illinois St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
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