405 Superior StChicago, IL 60654

Property Details for 405 Superior St

Year built

2001

Lot size

0.17 AC

Property type

Office properties

Property subtype

Office space

Description

This Class A, seven-story creative office building, totaling 49,534 net rentable square feet, presents a compelling value-add opportunity in Chicago's vibrant River North neighborhood. Built in 2001 and renovated in 2019, the property features a desirable creative loft aesthetic with abundant natural light and high ceilings. Currently at 18% occupancy, the building offers significant upside potential. The 7,200 square foot floor plates are highly adaptable, suitable for both full-floor tenants and multi-tenant configurations. Two existing tenants occupy a portion of the building, with the remainder available for lease-up. The first floor includes 1,737 square feet of retail space currently leased to Chabad of River North & Fulton Market, and an additional 4,527 square feet of vacant retail space. Five of the six upper floors are vacant, except for one floor leased to World Vision through mid-2030. An additional 20,667 square feet is currently leased on short-term month-to-month agreements. Situated on a 0.17-acre lot with 72 feet of frontage on Superior Street, the property benefits from its prime location, offering exceptional access to public transportation, including the CTA Brown/Purple Line 'L' station (a 4-minute walk), bus routes #37 and #66, and a Divvy bike station. The surrounding area boasts a strong demographic profile, with an average household income of $148,000 and a median home value of nearly $468,000 within a one-mile radius. The property's zoning is DX-5. This presents an ideal opportunity for an owner-user or value-add investor seeking to capitalize on the thriving River North market. The asking price is $5,445,000.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.8953

Longitude

-87.639

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