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314 S Federal Street

Chicago, IL 60604
  • $2,625,000
  • STATUS: Active
  • ON SITE: 278 Days
  • MLS #: 11384815
UPDATED: 120 min ago
$2,625,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1912
County:
Area:

School Ratings & Info

Description

We are proud to present the opportunity to acquire a historic building positioned in a strong transit oriented location in busy Downtown Chicago. 314-316 S Federal Street contains a total of 17,500 square-feet comprised of seven 2,500 square-foot floors and an additional 2,500 square-foot built-out and usable lower level. Located in Chicago's Loop near the corner of Jackson & Dearborn Streets, the building benefits greatly from its position between two CTA stops serving the Blue, Brown, Orange, Pink, and Purple Line trains. Steps from the Financial District on LaSalle, 314-316 S Federal Street offers immediate access to Chicago's best dining, shopping, and amenities. The property is also within immediate proximity to I-290, I-90/I-94, and Lake Shore Drive, offering easy access to businesses and residential neighborhoods throughout the Chicago Metro Area. A perfect opportunity for redevelopment, the floors lay out nicely for office, hospitality, or residential. Notably, boutique hotels opened in buildings this size have enjoyed distinct recent success in and around Chicago's Loop. The first floor and lower level offer ideal retail potential - a restaurant was successful there for many years. The building currently zoned DC-16, which allows for an additional nine stories. The property shares it's south wall with a large public parking garage for visitors. Built in 1912, this asset is also an excellent candidate for Class L Property Tax Incentive, further strengthening its viability for robust growth as an investment.

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© 2023 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ryan Dallas Real Estate. Based on information submitted to the MRED as of 2023-01-28T23:57:22.823 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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314 S Federal Street Chicago, IL 60604

  • Price: $2,625,000
  • Status: Active
  • On Site: 278 Days
  • Updated: 120 min ago
  • MLS #: 11384815
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1912
Built
Neighborhood:
Chi - Loop
County:
Cook
Area:
Chi - Loop
Property Description
We are proud to present the opportunity to acquire a historic building positioned in a strong transit oriented location in busy Downtown Chicago. 314-316 S Federal Street contains a total of 17,500 square-feet comprised of seven 2,500 square-foot floors and an additional 2,500 square-foot built-out and usable lower level. Located in Chicago's Loop near the corner of Jackson & Dearborn Streets, the building benefits greatly from its position between two CTA stops serving the Blue, Brown, Orange, Pink, and Purple Line trains. Steps from the Financial District on LaSalle, 314-316 S Federal Street offers immediate access to Chicago's best dining, shopping, and amenities. The property is also within immediate proximity to I-290, I-90/I-94, and Lake Shore Drive, offering easy access to businesses and residential neighborhoods throughout the Chicago Metro Area. A perfect opportunity for redevelopment, the floors lay out nicely for office, hospitality, or residential. Notably, boutique hotels opened in buildings this size have enjoyed distinct recent success in and around Chicago's Loop. The first floor and lower level offer ideal retail potential - a restaurant was successful there for many years. The building currently zoned DC-16, which allows for an additional nine stories. The property shares it's south wall with a large public parking garage for visitors. Built in 1912, this asset is also an excellent candidate for Class L Property Tax Incentive, further strengthening its viability for robust growth as an investment.
Exterior Features

Exterior Building Type Brick Parking Total 0

Interior Features

Cooling Central Individual Fireplaces Total 3 Heat Ventilation Forced Air

Property Features

Additional Parcels YN No Approximate Age Older Building Area Total 17500 Built Before1978 YN Yes Electric Separate Meters Fire Protection Sprinklers-Wet Geographic Locale Downtown Chicago Gross Income 0 Gross Scheduled Income 0 Insurance Expense 0 Mls Actual Status Active Property Sub Type Mixed Use Rental Price 0 Tax Annual Amount 0 Tax Year 2020 Tenant Pays Other Total Monthly Income 0 Type Mixed Use Zoning Commr

Listing information © 2023 Midwest Real Estate Data LLC.
Listing provided courtesy of Brookline Real Estate Llc: 630-590-5910.


© 2023 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ryan Dallas Real Estate. Based on information submitted to the MRED as of 2023-01-28T23:57:22.823 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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4112C Fieldstone Road
Champaign IL, 61822