Address
314 S Federal Street, Chicago, IL
Price
$ 1,500,000
Property Attributes
  • MLS#11771523
  • TypeCommercial
  • CountyCOOK
  • CityChicago
  • AreaCHI - Loop
  • Zip60604
  • Style
  • Price$ 1,500,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage17500
  • Lot Size2,500 SqFt
Data Source:
Midwest Real Estate Data (MRED)
Property Description

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.

Price History
5/1/2023 Listed $2,625,000
5/30/2023 43% - $1,500,000

General Features

Cooling Central Individual
Zoning COMMR
Construction Materials Brick
Year Built 1912
Electric Separate Meters
Tenant Pays Other
Stories 7
Property SubType Mixed Use
Tax Year 2021
County Cook
Property Type Commercial Sale
Contingency Property to Sell
Status Active
Directions Type address into maps app
City Chicago
MLS Area CHI - Loop
Lot Size Square Feet 2500
Street Name Federal
Additional Parcels Y/N No
Days on Market 361
Standard Status Active
Property Type Mixed Use

Interior Features

Total Fireplaces 3
Street Suffix Street

Exterior Features

Building Area Total 17500
Lot Dimensions 30X85
Exterior Brick

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 60604

Price
AVG $910K
$1.5M
Visits
AVG 228
383
Data Provided by Inside Real Estate®
Year Built
AVG 1913
1912
Walkscore
AVG 100
99
Data Provided by Walkscore® not using MLS data

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