Premier River North Neighborhood in Downtown | 445 N LaSalle St
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Premier River North Neighborhood in Downtown 445 N LaSalle St
7,200 SF 100% Leased Office Building Online Auction Sale Chicago, IL 60654
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Investment Highlights
- Highly visible 7,200-SF, three-story office building with prominent signage in the River North neighborhood within Downtown Chicago, Illinois.
- 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.
- 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.
- 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.
- 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.
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.
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Miscellaneous
Market Analytics Click Here to Access
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Market Sale Price per SF
Chicago - IL USA
Market Cap Rate
Chicago - IL USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Office
Building Size
7,200 SF
Building Class
C
Year Built/Renovated
1947/2017
Percent Leased
100%
Tenancy
Multiple
Number of Floors
4
Typical Floor Size
1,800 SF
Slab to Slab
10 ft
Building FAR
2.75
Land Acres
0.06 AC
Amenities
- Atrium
- Bus Route
- Signage
Walk Score ®
Walker's Paradise (98)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (83)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
141,600
417,839
830,624
2020 Population
120,438
389,191
845,863
2029 Population
141,894
412,067
804,947
2024-2029 Projected Population Growth
0.2%
-1.4%
-3.1%
Daytime Employees
494,685
721,148
872,118
Total Businesses
34,669
59,265
77,588
Average Household Income
$153,040
$145,517
$127,754
Median Household Income
$119,751
$114,089
$95,718
Total Consumer Spending
$3B
$7.7B
$13B
Median Age
35.6
34.9
34.8
2024 Households
87,657
228,469
412,946
Percent College Degree or Above
40%
38%
34%
Average Home Value
$632,333
$610,969
$566,477
$ values in USD
PROPERTY TAXES
| Parcel Number | 17-09-253-002-0000 | Improvements Assessment | £15,375 |
| Land Assessment | £116,571 | Total Assessment | £131,946 |
PROPERTY TAXES
Parcel Number
17-09-253-002-0000
Land Assessment
£116,571
Improvements Assessment
£15,375
Total Assessment
£131,946
Sale Advisor
Sale Advisor
JC Griffin, Vice President
(312) 407-6421
Contact
JC Griffin as a vice president within the firm's Capital Markets Group. In this capacity, Mr. Griffin focuses on advancing the firm’s national client procurement efforts, executing investment management transactions and conducting valuation and strategic advisory services for publicly governed and privately owned entities and their institutional assets.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial property. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Sophy Cardenas
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 478027045
-
JC Griffin -
Transwestern Real Estate Services
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STREET VIEW
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MAP
Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Premier River North Neighborhood in Downtown | 445 N LaSalle St
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