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Investment Highlights

  • Delivered fully vacant with existing high-quality office buildout and minimal capital requirements for occupancy.
  • Located within Chicago’s River North district, just steps from the CTA Red Line and surrounded by premier dining, retail, and cultural destinations.
  • Brick-and-timber construction with striking architectural elements, skylights, and exposed beams throughout the building.
  • DX-7 zoning allowing for flexible future reconfiguration, partial leasing options, or mixed-use redevelopment potential.

Executive Summary

21 W. Illinois presents a unique ownership opportunity in the heart of Chicago’s River North, one of the city’s premier mixed-use districts. This four-story, ±8,000-square-foot office building combines the authenticity of brick-and-timber architecture with contemporary finishes and modern amenities. Its design-forward aesthetic includes exposed brick, timber beams, skylights, and private outdoor space, creating a distinctive work environment that supports creativity and collaboration. Currently delivered fully vacant, the property offers full-building control, allowing an owner-user to develop a custom headquarters presence with branding consistency and operational flexibility. Existing improvements include 77 workstations (expandable to 90), nine conference rooms, five kitchens, and multiple private offices across four efficient floors, supporting immediate usability and minimizing upfront capital investment. Located steps from CTA Red Line and with easy access to Brown, Blue, and multiple bus routes, the asset ensures exceptional regional connectivity. The surrounding River North district offers one of Chicago’s densest collections of dining, entertainment, and retail amenities, enhancing recruitment and retention potential for any organization. Zoned DX-7 (Downtown Mixed-Use), the property provides long-term adaptability for future repositioning or alternative use considerations. This sale represents a rare chance to control a boutique building in a vibrant submarket, ideal for creative, tech, or nonprofit organizations seeking an iconic address and long-term stability in a dynamic urban location.

Financial Summary (Actual - 2025)

Annual (CAD) Annual Per SF (CAD)
Taxes $106,399 $13.30
Operating Expenses $26,271 $3.28
Total Expenses $132,670 $16.58

Financial Summary (Actual - 2025)

Taxes (CAD)
Annual $106,399
Annual Per SF $13.30
Operating Expenses (CAD)
Annual $26,271
Annual Per SF $3.28
Total Expenses (CAD)
Annual $132,670
Annual Per SF $16.58

Property Facts

Sale Type
Investment or Owner User
Sale Condition
High Vacancy Property
Property Type
Office
Building Size
8,000 SF
Building Class
A
Year Built/Renovated
1881/2010
Tenancy
Single
Building Height
4 Stories
Typical Floor Size
2,050 SF
Slab To Slab
12’
Building FAR
3.89
Lot Size
0.05 AC
Zoning
DX-7 - The DX, Downtown Mixed-Use district is primarily intended to accommodate office, commercial, public, institutional, and residential development.

Amenities

  • 24 Hour Access
  • Controlled Access
  • Signage
  • Skylights
  • Reception
  • Roof Terrace
  • Outdoor Seating
  • Air Conditioning
  • Balcony
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Very bikeable
80/100

Property Taxes

Property Taxes

Parcel Number
17-09-255-006-0000
Land Assessment
$174,762 CAD
Improvements Assessment
$361,246 CAD
Total Assessment
$536,008 CAD
Annual Taxes
$106,399 CAD ($13.30 CAD/SF)
Tax Year
2025
  • Listing ID: 41173462

  • Date on Market: 2026-07-06

  • Last Updated:

  • Address: 21 W Illinois St, Chicago, IL 60654

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