642 N Dearborn Street
This is an income-producing, mixed-use investment opportunity with a projected NOI of $147,639. The highly desirable historical River North property is adjacent to the highly acclaimed Tao restaurant and consists of five units, billboard income, and a shared outdoor garden patio. The property benefits from favorable remaining lease terms, an opportunity for short-term rental management or to convert STR unit(s) back to traditional residential apartment, and favorable DX-5 zoning permitting a variety of uses. Recent upgrades include a completely updated 3rd floor completed in 2025 and an updated 4th floor completed in 2021. The property is located in the heart of River North, offering exceptional walkability, immediate access to amenities, and easy access to major transport options, including the CTA Red, Brown, and Purple lines and 90/94 Expressway.
- Mom's Place - A Chicago Gathering Spot 100 ft
- TAO 150 ft
- Chicago Chop House 200 ft
- True Food Kitchen 300 ft
- The Redhead Piano Bar 300 ft
- The Kerryman 350 ft
- Circle K 400 ft
- 7-Eleven 500 ft
- BP Shop 650 ft
- Jewel-Osco 650 ft
- Trader Joe's 950 ft
- Whole Foods Market 0.2 mi
- Chicago + State Park 0.2 mi
- Jane M. Byrne Plaza 0.4 mi
- Washington Square 0.4 mi
- Eli M. Schulman Playground 0.4 mi
- Seneca Park 0.5 mi
- The Cove 0.5 mi
- Starbucks 200 ft
- Big Shoulders Coffee 550 ft
- Starbucks 550 ft
- L.A. Burdick Handmade Chocolates 600 ft
- Joe & The Juice 700 ft
- West Town Bakery 850 ft
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MLS data provided through MLS GRID · MRED MLS · MLS# MRD12528262