520 W Erie St 44,578 SF 100% Leased Office Building Chicago, IL 60654 $9,108,299 CAD ($204.32 CAD/SF) 7.45% Cap Rate

This fully leased loft office building offers an exceptional investment opportunity in Chicago’s River North neighborhood, one of the city’s most dynamic and sought-after commercial districts. The property spans approximately 45,300 square feet and features classic brick-and-timber construction, blending historic character with modern functionality. Each suite benefits from private entrances and self-controlled heating and air conditioning, providing tenants with autonomy and comfort.
The building is 100% occupied, with a projected 2026 NOI of $495,000, delivering stable income and a 7.45% capitalization rate at the current asking price of $6,550,000. Positioned directly across the river from Bally’s Hotel and Casino, the property enjoys strong visibility and proximity to major entertainment and hospitality developments, enhancing long-term value.
Located in the heart of River North, the asset is surrounded by a vibrant mix of dining, retail, and residential options, with convenient access to major highways, public transit, and downtown Chicago. This offering presents a rare chance to acquire a stabilized asset with value-add potential through below-market leases in one of Chicago’s premier office submarkets.