Huron Plaza 50 E Huron St 39,980 SF 100% Leased Office Building Chicago, IL 60611 For Sale

SUPERIOR LOCATION
Located at the intersection of Streeterville and River North, just steps from Michigan Avenue and State Street, the Property is positioned at the epicenter of some of the City’s most vibrant neighborhoods and luxurious hotels, shops, restaurants, and bars.
AS-OF-RIGHT REDEVELOPMENT
The Property is located in a Planned Development zone (PD 173) which was amended in 2020 to allow for an increased building size, height, and footprint. The Planned Development allows a wide variety of commercial uses including retail, office, medical office, and other institutional uses. A residential conversion will require another PD amendment to increase residential density.
RETAIL UPSIDE AT THE GROUND LEVEL
The building’s ground floor, historically used as office space, presents an opportunity for retail conversion. Strong retail demand and healthy rents that far exceed office rents- in the submarket could help maximize the Property’s income potential.
ACCESS TO WORLD CLASS MEDICAL INSTITUTIONS
The Property is a short 5 minute walk to Northwestern Memorial Hospital, Simpson & Kimberly Querrey Biomedical Center, Lurie Children’s Hospital, Shirley Ryan Ability Lab, and the new Northwestern Cancer Center, making it a great fit for a medical office use.
HIGHLY WALKABLE & ACCESSIBLE LOCATION
Deemed a “Walkers Paradise” with a near perfect 98/100 score and “Rider’s Paradise” with a perfect (100/100) for its proximity to public transit by WalkScore.com, the Property is situated within walking distance to the Chicago and Grand CTA Red Line stations and numerous CTA bus lines, including #151, #146, #147, among others. I-90/94 is 1.4 miles to the West, and Lake Shore Drive is 0.5-miles to the East.
EXCEPTIONAL DEMOGRAPHICS
The Property benefits from the highly affluent Streeterville / River North population. Within a one-mile radius, average household incomes are $152,000; the median home value exceeds $540,000; and 79% of the population possesses a bachelor, graduate, or doctoral degree, while the population within 1 mile exceeds 136,000.