Free Standing Building for Sale in River North

735 N LaSalle Dr Chicago, IL 60654

Chicago
FOR SALE
Property Type:
Multi Tenant Office
Amount:
$1,100,000
Last Verified:
Apr 11, 2024

Highlights

  • Freestanding building with open floor plans
  • Household incomes above $146,000
  • Parking for up to three vehicles
  • No liquor license use restrictions
  • Distinct architecture
  • DX-7 zoning

Description

The subject property is an approximately 3,900 square foot 3-story, freestanding building located on a 25-foot wide by 110-foot deep site. The property is zoned DX-7, which is the City’s designation for downtown mixed-use buildings intended to accommodate office, commercial, public, institutional and residential development. The DX-7 allows for a maximum building size of approximately 19,250 square feet.

Situated at 735 N LaSalle Street in Chicago's vibrant River North neighborhood, this property is nestled in one of the city's most sought-after areas, where residents can effortlessly balance work, leisure, and community life. River North just steps away from the Loop CBD, serves as a bustling hub for over 16,000 existing multi-family units, with additional units currently under construction and proposed. Within a mile radius, more than 104,869 residents enjoy an average household income of $146,000, drawn to the neighborhood's array of shopping, dining, entertainment, and cultural offerings.

Boasting the iconic Merchandise Mart, River North stands as a prominent center for design and home furnishings nationwide, hosting the largest concentration of art galleries in the US outside of Manhattan. The neighborhood continues to flourish with ongoing residential and commercial developments, complemented by a diverse range of restaurants, nightlife venues, and hotels. Renowned companies such as Motorola, Yelp, Salesforce, and Kirkland and Ellis have established their presence here, contributing to the neighborhood's dynamic atmosphere.

River North's appeal extends beyond commerce, with educational institutions like Moody Bible Institute and Walter Payton College Preparatory High School nearby. Convenient access to major highways and public transportation further enhances the area's connectivity, while fostering connections with neighboring communities, creating a thriving urban landscape.

Building Size: 3900sq ft
Building Class: C
Lot Size: 0.06 acres


Documents

NEW - OM/Proposal (L)

Map of 735 N LaSalle Dr, Chicago, IL, 60654

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.