Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Building Area
Land Area ()

Property description

JLL is pleased to present for sale the fee simple interest in 1043 North Rush Street (the “Property”) in Chicago’s renowned Gold Coast neighborhood. The Property is situated in the heart of the Gold Coast shopping, dining, and entertainment district, only two blocks west of the famed Magnificent Mile. 


The Property is improved with a two-story, 11,213 square foot building situated on a 0.28-acre site that offers future ownership significant optionality and value creation opportunities through the near term and unfettered ability to redevelop the site into a mixed-use asset. The Property benefits from flexible zoning of DX-7, giving ownership the as-of-right to develop a floor-to-area ratio (“FAR”) of 7.0, or over 85,000 buildable square feet. Given the vibrancy of the Gold Coast, particularly along Rush Street, in addition to the generous flexibility offered by the DX-7 zoning, the site can accommodate a multitude of commercial and/or residential uses The Offering represents an unparalleled opportunity to acquire and redevelop a rarely available parcel into a destination, mixed-use asset anchoring the center of Rush Street in Chicago’s prestigious Gold Coast.

Investment highlights

  • Premier location in the Chicago's storied "Gold Coast" neighborhood
  • Irreplaceable real estate with 80 linear feet of frontage along Rush Street
  • Tremendous opportunity to develop over 85,000 SF of commercial and/or residential space
  • Exceptional demographics with average household income exceeding $178,000
  • Increasing densification and development activity within the submarket


Last Updated Date: 29 Aug 2021
Brian Shanfeld
Brian Shanfeld
Senior Managing Director, Capital Markets
Broker Licenses
IL-475.158824
Dan Reynolds
Dan Reynolds
Director, Capital Markets
Broker Licenses
IL

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Last Updated Date: 29 Aug 2021

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The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.

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