416 Ontario StChicago, IL 60654

Property Details for 416 Ontario St

Year built

1923

Lot size

0.55 AC

Property type

Office properties

APN

17-09-127-036-1235

APU

17091270361235

Description

This exceptional 2,797-square-foot commercial condo in Chicago's River North neighborhood is available for $675,000. Located at 416 W Ontario St, this vacant property offers a unique opportunity for owner-users. Previously configured as a restaurant, the space is in turnkey condition, featuring a state-of-the-art kitchen with a 22-foot hood, walk-in cooler, dish room, and ample storage. The layout includes two ADA-compliant restrooms and an attractive outdoor seating area. The interior boasts 15-foot ceilings and comfortably seated approximately 50 guests. The property is zoned DX-7 and sits within a vibrant area known for its upscale dining, art scene, and boutique shopping, offering excellent visibility and foot traffic. Its proximity to the Merchandise Mart, Chicago Riverwalk, public transportation, and major highways ensures convenient access for customers and employees. This building, constructed in 1923, presents a blend of historic charm and modern functionality, making it ideal for a variety of retail uses, including restaurants, storefronts, or traditional office spaces. The property's Cook County APN is 17-09-127-036-1235. This is a rare opportunity to acquire a well-appointed commercial space in one of Chicago's most desirable locations.

• CAP approach

  CAP return

  Valuation

  6%

  $7,764,336

  6.5%

  $7,167,079

  7%

  $6,655,144

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,146,840

  Geo Method

  $3,146,840

• Alternative Use

  Use

  Valuation

  Residential

  $8,887,178

  Hospitality

  $8,140,607

  Educational

  $6,772,890

  Medical

  $7,005,820

  Retail

  $10,535,606

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.8934

Longitude

-87.639

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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