221 W Erie - Super Ideal for Owner/User
5,000 SF Turnkey Boutique Office/Retail Building | Ideal for Owner/User
Marketing description
New Pricing Update: $1,800,000!
To view Offering Memorandum, please visit: https://www.cbredealflow.com/buyer/agreement?pv=oBwz5ks3dWNaEu94Nt0t7YycFGMrfT4yMVrYFrkJ8QwuRpmuPzX4r48dyVVw7sao
CBRE, as an exclusive agent, is pleased to present the opportunity to acquire 100% fee simple interest
in 221 West Erie (the “Property”), a two-story office building with 5,000 SF of space, located in the
heart of River North, most notably known as the live, work, play neighborhood in Chicago, Illinois.
This ideally located loft office building is the perfect blend of modern elegance and artistic charm,
featuring a dramatic custom staircase at its center, leading to an inviting second floor with an atrium
bay window overlooking Erie Street.
The layout includes a full bath on the second floor and two convenient half baths, one on each level.
Enjoy the warmth of hardwood maple floors throughout, complemented by essential amenities like
HVAC, burglar and fire alarm systems, and built-in audio with intercom for added security and comfort.
With 3-Phase, 240V, 520 Amp electrical services, this space is ready for any creative endeavor.
Investment highlights
Turnkey Office Space - The building features a well-designed layout with multiple work areas, conference rooms, and bathrooms, ready for immediate occupancy. This reduces initial investment costs and saves time.
Redevelopment Potential via DX-5 Zoning - Allows for multiple options for redevelopment; a prime candidate for residential conversion.
The Epitome of Live, Work, and Play - The Property offers a prime location in River North, with high-end dining, luxury wellness spaces, and nightlife venues just steps away. Experience the true River North lifestyle.
Transit-Oriented, Rapidly Developing Mixed-Use Location - The Property is a short walk from two CTA “L” stations (Chicago Avenue and Merchandise Mart) and five public bus stops, providing easy access to downtown Chicago. Nearby Union Station and Ogilvie Transportation Center offer regional connectivity.
Excellent Demographics - River North attracts a wealthy millennial base with an average household income of $183,211 and 90.1% of residents holding a bachelor’s degree or higher. The area presents a highly sophisticated demographic.
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