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415-417 N Sangamon St 0.53 Acres of Commercial Land in Chicago, IL 60642
Investment Highlights
- Fully entitled for a 17-story, 260-foot tower approved by Chicago City Council in April 2023.
- Corner lot with dual frontage along N Sangamon and W Kinzie, enhancing retail activation potential.
- Surrounded by major corporate headquarters and Fulton Market’s dense dining and retail corridor.
- Entitlement fees and bonus density premiums already paid, providing meaningful cost savings.
- Steps from multiple CTA train lines, major transit hubs, and the Kennedy Expressway.
- Existing tenancy delivers interim income while development plans are advanced.
Executive Summary
In addition to its development-ready status, the property currently generates income through existing short-term leases, mitigating holding costs. The site’s configuration offers dual street frontage at the prominent intersection of N Sangamon Street and W Kinzie Street, creating retail visibility and architectural identity. Further upside potential includes eligibility for Transit-Oriented Development benefits, thanks to its proximity to CTA Green and Pink Lines, the Blue Line, and I-90/94, all within a half-mile radius.
Located in one of Chicago’s most sought-after markets, surrounded by major employers like Google and McDonald’s, plus a vibrant restaurant and lifestyle scene, this asset offers exceptional competitive advantages for mixed-use, office-led, or residential redevelopment strategies.
Property Facts
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Condition | Redevelopment Project | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.53 AC |
| Property Type | Land | ||
| Zoning | DX-7 | ||
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.53 AC |
| Zoning | DX-7 |
1 Lot Available
Lot
| Lot Size | 0.53 AC |
| Lot Size | 0.53 AC |
The property at 415–417 N Sangamon Street in Chicago encompasses approximately 0.53 acres across four parcels within the Fulton Market/West Loop submarket. It is zoned PD 1561 with a DX-7 base classification.
Description
The property at 415–417 N Sangamon Street in Chicago encompasses approximately 0.53 acres across four parcels within the Fulton Market/West Loop submarket. It is zoned PD 1561 with a DX-7 base classification and was approved by City Council in April 2023 for a 17-story, 260-foot mixed-use tower, including approximately 267,000 SF of development. The site occupies a corner position with frontages on N Sangamon Street and W Kinzie Street and features transit-oriented development characteristics. Existing structures on the property include a three-story brick building with a loading dock and one-story improvements. All entitlement fees and FAR bonuses allowing 4.5 additional FAR have been secured. The site is located near major employers and transportation infrastructure, with Morgan CTA station and I-90/94 nearby.
Property Taxes
| Parcel Numbers | Improvements Assessment | $448,758 CAD | |
| Land Assessment | $380,519 CAD | Total Assessment | $829,277 CAD |
Property Taxes
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415-417 N Sangamon St
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