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Listed by Carrie McCormickof @properties Christie's International Real Estate
$1,550,000
Est. payment /mo
3,809 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 3,809 sqft
Price per Sqft $406
MLS Listing ID 12464895
Year Built 1938
Annual Tax Amount $36,894
Tax Year 2023
Lot Dimensions 21 x 110
Property Sub-Type Mixed Use
Property Description
In the heart of Chicago's vibrant River North, 740 N Wells presents a once-in-a-generation mixed-use opportunity-an address destined to be someone's future found. This three-story masonry jewel offers 3,465 square feet of gross building area on a 2,321-square-foot DX-5 zoned lot, boasting over 21 feet of Wells Street frontage, dramatic floor-to-ceiling windows, and soaring 11-foot ceilings. On-site parking-practically unheard of in this location-accommodates three vehicles, with the possibility for a fourth. The ground-floor commercial space (1,155 sq ft), most recently home to the renowned Carl Hammer Gallery, offers an open, light-filled display area, rear storage, and a full washroom. Direct access to a full unfinished basement adds valuable storage or build-out flexibility, ideal for retail, gallery, restaurant, or showroom use. Separate street access leads to two upper-level loft residences, each bathed in natural light through expansive windows and enriched by vintage wood floors and impressive ceiling heights. Unit Two showcases a dramatic built-in bookcase, while Unit Three boasts a wood-burning fireplace and a mezzanine bedroom for added character and function. Both feature full kitchens and baths, making them prime for premium rental income or inspired owner-occupancy. Positioned steps from the highly anticipated The Lake private members' club-and surrounded by new luxury residences, premier dining, and Chicago's largest art gallery district-this property enjoys unmatched foot traffic, vehicular exposure, and neighborhood prestige. The property was previously divided into three separate condominium/property ID numbers, creating a rare opportunity to buy the entire building with all three units. With River North residential rents commanding top-tier rates, 740 N Wells offers substantial income potential alongside exceptional end-user appeal. For the discerning investor, operator, or visionary, this is more than an address-it's a rare prize in a world-class location, with the flexibility, visibility, and inherent value to define your next chapter.
Location
State IL
County Cook
Zoning OTHER
Interior
Cooling Central Air, Central Individual
Flooring Carpet, Terrazzo, Tile, Wood
Fireplaces Number 1
Fireplace Y
Exterior
View Y/N true
Building
Foundation Concrete Perimeter
Structure Type Brick
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