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642 N Dearborn Street Chicago, IL $ 2,150,000
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$ 2,150,000 Get more info
642 N Dearborn Street
$ 2,150,000
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Share Save

642 N Dearborn Street

Chicago, IL, 60654
$ 2,150,000
Bedrooms-- Baths--

Monthly Estimate*

$ 13,238

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642 N Dearborn Street, Chicago, IL 60654 - Image 12

Commercial Property for sale in Chicago, IL

for $2,150,000. This building was built in 1890 on a lot size of 0.060009.

This is an income-producing, mixed-use investment opportunity with a projected NOI of $135,514. 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 for additional income, 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.

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Commercial Active

Price

$ 2,150,000

Property Type

Commercial

Taxes

$ 36,329

Style

Lot Size

0.060009

Year Built

1890

Town/City

Chicago

County/Region

Cook

MLS | Web ID

12528262
Features
General
Cooling Central Air
Year Built 1890
Electric Separate Meters
Stories Count 4
Property Subtype Mixed Use
Tax Year 2024
Gross Income 198922
County Cook
Insurance Expense 5013
Property Type Commercial Sale Mixed Use
Status Active
Directions On N Dearborn St at Erie St
City Chicago
Number Of Units Total 5
MLS Area CHI - Near North Side
Lot Size Square Feet 2614
Tax Annual Amount 36329
Electric Expense 330
Fuel Expense 1080
Trash Expense 2880
Water Sewer Expense 1200
Additional Parcels Y/N N
Standard Status Active
Cap Rate 6
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Exterior
Lot Dimensions 50X100
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* Excluded Features
List By
Sperry Van Ness

Broker

scott.maesel@svn.com;scott.maesel@svn.com

Email

Affordability Calculator

$16,265
Per Month
81%
19%
0%
Monthly Principal & Interest
$13,238
Monthly Property Taxes
$3,027
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
565567 Elementary School
567955 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
12/8/2025$2,150,000 Listed Price

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642 N Dearborn Street, Chicago, IL, 60654 is a Commercial Property for sale at $2,150,000 with a lot size of 0.060009. 642 N Dearborn Street was built in 1890. The property's zip code is 60654 which is in Chicago, IL

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