Greenstone Partners, as the Exclusive Investment Advisor, is pleased to present the opportunity to acquire the 100% fee-simple interest in 405 West Superior Street (the “Property”), an owner-user / value-add, timber loft office building prominently located in Chicago’s River North neighborhood.

The 49,534 square foot, seven-floor office building is positioned on 7,200 square feet of land with 72 feet of frontage along Superior Street. The Property’s first floor consists of one (1) retail tenant, Chabad of River North & Fulton Market, totaling 1,737 square feet, and two (2) vacant units totaling 4,527 square feet. Five (5) of the six (6) remaining floors, each totaling 7,200 square feet, will be delivered vacant, with the fifth floor leased to World Vision, a global humanitarian organization using the Property as its headquarters and encumbered under a lease through mid-2030. Although the Property will be delivered with just two leases in place, existing ownership currently has an additional 20,667 square feet building leased on short-term license agreements.

The Property offers flexibility for an owner-user seeking to occupy either nearly all or just a portion of the building. Additionally, it could be acquired with a lease-up strategy in mind, considering the relatively turnkey spaces and the strong rents demanded for competitive office product in this location. Constructed in 2001, the building boasts a creative open loft aesthetic that exudes a vintage charm, complemented by modern construction, with each floor featuring an abundance of natural light through large windows and high ceilings. With 7,200 square foot floor plates, the Property is well-suited to today’s leasing environment, facilitating the leasing of full floors or partial floors through demising.

The Property benefits from its location in River North, one of Chicago’s most prominent ‘live, work, play” neighborhoods, which features abundant housing, modern and vintage offices, and a bevy of restaurants and nightlife. The development pipeline of high-rise apartment buildings in River North brings a highly desirable mix of youth and wealth to the area. The Property’s proximity to the CTA Brown/Purple Line ‘L’ station (2 blocks), CTA bus routes #37 and #66 (1 block), a Divvy bike station (1 block), and the Ohio Street I-90/94 feeder ramp (4 blocks) offer tenants exceptional access to all modes of transportation. The Property’s demographics are among the best in Chicago, featuring a one-mile average household income of $148,000, median home value of nearly $468,000, and a total population of 115,000.