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Property Detail

North La Salle Street
Highly visible 7,200-SF, three-story office building with prominent signage in the River North .
$350,000

Description

  • Highly visible 7,200-SF, three-story office building with prominent signage in the River North neighborhood within Downtown Chicago, Illinois.
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  • Rare value-add opportunity to acquire a fully occupied asset leased by a single tenant through 2024 with the ability for future multi-tenant lease-up.
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  • Ideal traditional build-out with recessed lighting, private offices, conference rooms, a spacious kitchenette/break room, and ample storage space.
  • Optimally positioned within a Walker’s and Rider’s Paradise, encompassed by amenities and steps away from the Chicago CTA Stop and bus station.
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  • Conveniently positioned 1 mile from the I-90 and I-290 interchange and 3 miles from the I-90 and I-55 highway junction, providing easy connectivity.
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  • Premium proximity to numerous locally renowned restaurants and cafés including The Hampton Social, TAO Chicago, RPM Italian, Foxtrot, and more.

Executive Summary

Primely situated 9,600-square-foot, three-story office building in the center of Chicago's highly regarded River North neighborhood in Downtown Chicago, Illinois. Built in 1947 and then renovated in 1988, 445 N LaSalle Street boasts a traditional layout with 20 private offices, two conference rooms, a server room, five private restrooms, a spacious kitchenette/break room, recessed lighting, and ample space for storage. The property is prominently located with high visibility along LaSalle Street and features an impressive skylight and windows offering an abundance of natural lighting throughout the building’s core. The building is equipped with elevator access servicing all floors, providing easy access throughout the property.

445 LaSalle Street is conveniently located just two blocks from the Chicago CTA Stop (Brown and Purple lines), with the bus station also a few steps away from the front door. This property is ideally considered within a Walker’s Paradise and is surrounded by the many locally popular restaurants and cafés that make River North an incredibly sought-after destination. Noteworthy nearby restaurants include Gene & Georgetti’s, The Hampton Social, Joe & The Juice, Foxtrot, TAO Chicago, Etta, Ema, RPM Italian, Sunda – River North, Lou Malnati’s, and many more.

The property is preferably positioned 1 mile from the Interstates 90 and 290 interchange and 3 miles from the Interstates 90 and 55 highway junction, providing seamless connectivity throughout the state. The building also benefits from being surrounded by a dense and highly educated workforce as it is situated less than 2 miles from the University of Illinois Chicago, which saw a total student enrollment of nearly 34,000 students in the fall 2024 semester.

445 N LaSalle is currently occupied by a single tenant with a lease term through December 2024 and has a leased antenna on the rooftop. This acquisition presents a new owner with the desirable opportunity to either acquire the property as a future owner/user for a headquarters location or as an investor with the ability to add value through single or multi-tenant lease-ups at the beginning of 2025.

Property tours are available by appointment only. Please contact the broker to schedule.

Premier River North

Listing ID : 00596

SKU: 596

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Price History

DateEventPrice
December 4 2024Listed$350,000.00