Active
314 S Federal Street
Chicago IL, 60604
$1,500,000
$85.71 per sqft
Active
17,500 sqft
Commercial
Built in 1912
Courtesy of Brookline Real Estate LLC
PRICE REDUCTION: 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.
11771523
MLSⓇ ID
May 1, 2023
Listed
April 25, 2024
Updated
Map
314 S Federal Street
Chicago IL, 60604
Interior Features
Total Stories
7
Fireplace
Yes
Cooling
Yes
Cooling Description
Central Individual
Heating
No
Exterior/Building Features
Lot Size
0.06 Acres
Other Property Details
Area Name
CHI - Loop
Days on Market
361
Garage
No
View
No
County
Cook
Pool
No
Zoning
COMMR
Courtesy of Brookline Real Estate LLC, Dominick Cannata,
Listing Contact: 630-590-5910
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Data last updated 11:09 PM UTC, 4/25/2024