158 W Erie - Ideal Owner/User
3 Story Building in Heart of River North 2,367 SF Per Floor
Marketing description
NEW PRICING: CBRE, as an exclusive agent, is pleased to present the opportunity to acquire 100% fee simple interest in 158 West Erie, a three-story office building with 7,100 SF of space, located in the heart of River North, most notably known as the live, work, play neighborhood in Chicago, Illinois. A rare opportunity to purchase or lease an iconic three-story building in the heart of River North. Originally constructed as a 3-bay horse-drawn fire engine station, this historic property offers approx. 2,367 square feet per floor and can be delivered in shell or vanilla box condition.
The entire building is available for sale. The building features a full basement, elevator service to all floors, and abundant power.
The Property also provides for exceptional transit as all main forms of transportation are within a short walk. Both the Merchandise Mart “L” stop as well as the Chicago “L” stop are within a six-minute walk of the property. In addition, the Ohio feeder ramp is just two blocks west of the Property, providing not only convenient access to Chicago’s main highways in I-290, I-90, and I-94 but also presenting extreme visibility to the building. With its prime River North location and close proximity to public transit and major highways, this property is an ideal fit for office, retail, medical, or entertainment uses—perfect for a growing or relocating business.
To view Offering Memorandum, please visit: https://www.cbredealflow.com/buyer/agreement?pv=oBwz5ks3dWNaEu94Nt0t7YycFGMrfT4yMVrYFrkJ8QwuRpmuPzX4r48dyVVw7sao
Investment highlights
REDEVELOPMENT POTENTIAL VIA DX-5 ZONING:
The DX-5 Zoning allows for downtown high-rises, offices, or
apartments with ground floor retail, which implies multiple options
for redevelopment at the site. The Property is a prime candidate for a
residential conversion.
THE EPITOME OF LIVE, WORK, AND PLAY:
The Property sits on a stretch of Erie Street that provides versatile
mixed-use experiences just steps away from its doors. One can find
high-end dining options, luxury wellness spaces, and exciting nightlife
venues without having far to venture. This building provides access to
the true River North experience.
EXCELLENT DEMOGRAPHICS:
River North, one of Chicago’s most affluent neighborhoods, continues
to attract a wealthy millennial base that appeals to Chicago’s top talent.
TRANSIT-ORIENTED, RAPIDLY DEVELOPING
MIXED-USE LOCATION:
The CTA “L” rapid transit station at Chicago Avenue (Brown & Purple
Lines) is just a six-minute walk north of the property. Additionally, the
Merchandise Mart Station (Brown & Purple Lines) is also a six-minute
walk south of the property. Just a three-minute drive from Union Station
and Ogilvie Transportation Center; Chicago’s two busiest rail terminals
accessing the broader suburban region. In addition, there are five CTA
public bus stops located within three blocks of the property, providing
accessibility throughout downtown Chicago’s outlying neighborhoods.
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