Property for Sale: 507 N Wells, Chicago, IL 60654
$1,295,000
$1,295,000
507 N Wells,
Chicago, IL 60654
$1,295,000
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Price:
$1,295,000
$50,000 - 10/11/2024
Est. payment: Skip to Mortgage Calculator
Type Commercial
Year Built 1980
City Chicago
County Cook
MLS 12126057
Status Active
Prime Bi-Level Retail Space in River North, Chicago Property Overview: This exceptional 5,705 square foot bi-level retail space is now available on the sought-after east block of Wells Street, nestled between Grand and Illinois. Boasting a prominent 25 feet of frontage along bustling Wells Street, this property offers unparalleled visibility in one of Chicago's most vibrant neighborhoods. Location Highlights: River North is a dynamic neighborhood known for its vibrant mix of art galleries, upscale restaurants, luxury design showrooms, and a thriving nightlife scene. It's an area where innovation meets tradition, making it a hotspot for both locals and tourists. The property is located in the heart of the furniture and design district, with immediate neighbors including renowned brands such as Ligne Roset, Mig and Tig, Mobili Mobil, and Roche Bobois. Just a short walk away is the iconic Merchandise Mart, a major hub for interior design and business in Chicago. Accessibility: This retail space benefits from exceptional accessibility, with proximity to both the Red and Brown 'L' lines, ensuring a steady flow of foot traffic from the 12.8 million riders who use these transit lines annually. This strategic location places your business in the midst of a dense urban environment, surrounded by a vibrant community of 74,348 residents and a workforce of 128,478 employees within a one-mile radius. Reflecting the affluence of the neighborhood. Property Features: Versatile Space: The lower level features high ceilings, providing a spacious and flexible environment suitable for a variety of retail or service uses. Previously configured as a medical spa, the space is equipped with multiple bathrooms, water throughout, and turnkey capabilities for a hair/nail salon. Rare Opportunity: Retail spaces on this end of Wells Street are rarely available, making this an exceptional opportunity to establish a presence in a thriving and upscale neighborhood. High-End Neighbors: Benefit from proximity to prestigious co-tenants including Le Select, Duxiana, Gene & Georgetti's, Poliform, Lou Malnati's, Jaleo, and Roka Akor, among others. This is a prime location that places your business in the company of established and respected brands. Whether you're looking to open a flagship store, a high-end salon, or a unique boutique, this space offers the perfect blend of location, visibility, and flexibility. Don't miss your chance to secure a spot in one of Chicago's most desirable retail corridors.
Lot & Building Features
Cooling Central Air
Tax Year 2023
Lot Dimensions 25X110 ft
Price History of 507 Wells, Chicago, IL
Date | Name | Price | Difference |
---|---|---|---|
10/11/2024 | Price Adjustment | $1,295,000 | 3.72% |
09/25/2024 | Price Adjustment | $1,345,000 | 2.18% |
12/31/1969 | Listing Price | $1,375,000 | N/A |
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed. |
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507 Wells (MLS #12126057) is a commercial listing located in Chicago, IL. This property was listed on 08/01/2024 and has been priced for sale at $1,295,000.
Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listing information courtesy of: @properties Commercial |