Free Standing Building for Sale in River North

735 N LaSalle Street Chicago, IL 60654

FOR SALE
Property Type:
Street Retail
Amount:
$1,749,500
Last Verified:
Jul 25, 2022

Highlights

  • Freestanding building with open floor plans
  • Household incomes in excess of $130,000
  • 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.

The subject property is located at 735 N LaSalle Street in Chicago's River North neighborhood, one of the city's most popular areas to live, work and play. River North, located steps from the Loop CBD, is home to tens of thousands of area residents who occupy more than 14,300 existing multi-family units, with 2,760 more under construction and over 1,380 proposed. There are a total of more than 82,100 residents within 1 mile and average household incomes of nearly $129,000. All who take advantage of the neighborhood's proximity to shopping, restaurants, nightlife, and culture.
Home to Chicago's massive Merchandise Mart, the neighborhood is one of the major centers for design and home furnishings in the US, and boasts the largest concentration of art galleries in the US outside of Manhattan. The area is home to many existing and planned large residential and office developments, restaurants, nightclubs and hotels and is the home of many companies of varied industries including Motorola, Yelp, Salesforce & Kirkland and Ellis to name but a few. Also located nearby are several educational institutions including Moody Bible Institute and Walter Payton College Preparatory High School. River North is conveniently located to all highways and mass transportation, as well as many other vibrant neighboring communities.

Building Size: 3900sq ft
Lot Size: 0.06 acres


Documents

NEW - OM/Proposal (L)

Map of 735 N LaSalle Street, 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.