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731 Dearborn St Chicago, IL 60654-3826

OFF-MARKET Retail space Google Maps
3,000 SF 0.07 ac lot Built 1994
Entity Owned 7-yr Hold Free & Clear
Estimated value (blended)
$335k
Range $302k – $369k (±10%)
Property ID US28-0801690

Property summary

AI-generated overview

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.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1994
Total area 3,000 SF
Lot 0.07 ac (3,047 SF)
APN 17-09-206-010
UPID US28-0801690

Cap rate & NOI

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

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$335k
CAP Approach CAP
$640k
Comparable Approach Comparable
$701k
Blend (final) Blend
$335k

Owner & transaction history

since 2019
4 recorded transactions
2019
Price N/A
2018
Price N/A
2001
$662,500
1969
Price N/A

Zoning & alternative use

Top alternative use upside
Neighborhood: shopping center $715,000 +64.3%
Office building $455,000 +4.5%

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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