420 Huron StChicago, IL 60654

Property Details for 420 Huron St

Year built

1914

Lot size

0.17 AC

Property size (Sq ft)

28,100 SF

Property type

Office properties

APN

17-09-120-015-1001

APU

17091200151001

Description

This exceptional River North office building at 420 W Huron St, Chicago, IL 60654 presents a compelling investment opportunity. The property, encompassing 30,918 square feet across four stories, features 87 units and boasts a blend of creative, executive, and traditional office spaces. Built in 1929 and extensively renovated in 2017, the building sits on a 7,106 square foot lot and is zoned PMD. Currently operating at 30% occupancy with a projected vacancy date of October 30, 2024, this presents a significant value-add potential for an owner-user or investor seeking portfolio expansion. The net rentable area totals 22,605 square feet. The property is offered for sale by owner at $4,500,000, and seller financing may be available. This multi-tenant building offers a unique chance to capitalize on the vibrant River North market. The property's multiple APNs are 17-09-120-015-1001, 17-09-120-015-1002, 17-09-120-015-1003, and 17-09-120-015-1004. The gross lease structure provides a straightforward income stream. This is an ideal opportunity to leverage seller financing to maximize returns and build equity.

• CAP approach

  CAP return

  Valuation

  6%

  $9,030,539

  6.5%

  $8,335,882

  7%

  $7,740,462

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,660,025

  Geo Method

  $3,660,025

• Alternative Use

  Use

  Valuation

  Residential

  $10,336,494

  Hospitality

  $9,468,173

  Educational

  $7,877,409

  Medical

  $8,148,325

  Retail

  $12,253,747

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.895

Longitude

-87.6393

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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