731 Dearborn St Chicago, IL 60654-3826
- Retail space
- 3,000 SF
- 0.07 lot acres
Current Use by Public Records
- Retail space
Property Details for 731 Dearborn St
- Year built
- 1994
- Lot size
- 0.07 lot acres
- Property size
- 3,000 SF
- Property type
- Retail space
- APN
- 17-09-206-010
- APU
- 1709206010
Description
This exceptional 3,055-square-foot freestanding building presents a rare opportunity in Chicago's vibrant River North submarket. Located at the highly visible northeast corner of North Dearborn Street and West Superior Street, this single-story property boasts outstanding frontage and exposure on two major thoroughfares. The building is ideal for a variety of uses, including retail, restaurant, or medical office space, and offers ample power. Its prime location at a signalized intersection ensures high traffic and visibility, benefiting from both daytime and nighttime foot traffic. The property features attractive window lines maximizing visibility and the potential for outdoor patio seating along Superior Street. Situated in a thriving commercial corridor with numerous national brands and close proximity to public parking garages, this location offers unparalleled access and convenience. The building's adjacency to a new luxury development with hundreds of residential units further enhances its appeal. With immediate occupancy available, this is a once-in-a-generation opportunity to establish a flagship presence in one of Chicago's most desirable neighborhoods. The 100 Walk Score designates this area as a walker's paradise. The ability to brand the façade adds to the property's marketing potential. This property is a truly exceptional opportunity for a discerning business seeking a prominent location in the heart of River North, where the Gold Coast and River North meet.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $335,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $690,000
- 6.5%
- $640,000
- 7%
- $595,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $700,000
- AI Estimate
- $354,000
Market price range: $206k - $780kMarket price range: $99.0k - $396k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $435,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $715,000 Change: +64% Conversion: Moderate
- OFFICE BUILDING
- $455,000 Change: +4% Conversion: Easy
- AUTO REPAIR, GARAGE
- $360,000 Change: -18% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6294
- Latitude
- 41.8958
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA