504-512N Wells StChicago, IL 60654

Property Details for 504-512N Wells St

Property size (Sq ft)

14,270 SF

Property type

Retail properties

Property subtype

Bars

Description

This exceptional 14,270-square-foot retail property, located at 504-512 N Wells St in Chicago's vibrant River North neighborhood, presents a unique investment opportunity. Currently occupied by a highly acclaimed restaurant and bar under a long-term NNN lease, this trophy asset boasts a complete gut renovation completed in 2022, exceeding $7 million in capital expenditures. The building features a fully built-out, high-end restaurant space encompassing three bars and a dedicated private dining area. The renovation included the replacement and upgrade of all building systems, resulting in a state-of-the-art facility. The property also includes a remodeled, fully enclosed second-floor bar/lounge and a finished basement providing ample back-of-house space. The building's layout is comprised of a 2,290-square-foot lower level, a 9,111-square-foot first floor, and a 2,869-square-foot second floor. Its convenient location, just two blocks from the Merchandise Mart and the Brown/Purple Line "L" stop, and a five-minute walk from the Grand Red Line "L" stop, ensures high visibility and accessibility. The property is zoned DX-5 (downtown mixed-use) and has a Cook County APN of 17-09-244-012-0000. 2021 property taxes were $133,926.47. The asking price is subject to offer. This is a rare chance to acquire a meticulously renovated, high-performing asset in a prime Chicago location.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.8911

Longitude

-87.6345

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