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100% Vacant, Full Retail Release Opportunity 757 N Orleans St 13,738 SF Retail Condo Unit Online Auction Sale Chicago, IL 60654

40 DAYS d

14 HRS h

50 MIN m

22 SEC s

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42 DAYS d

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50 MIN m

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3% Transaction Fee (Min $20,000 USD, Max $300,000 USD)

Investment Highlights

75 N Orleans Street is a 198-unit, 22-story, renowned MFR building in Chicago’s Central Business District surrounded by affluent demographics.
Value-add opportunity throughout releasing ground-floor retail and taking buyout from Walgreens, benefiting from short-term passive income.
Walgreens occupies 83% of the GLA, remains bound to its lease despite ceasing operations, with four years and a month left.

Located in River North, one of Chicago’s most vibrant neighborhoods, adjacent to CTA Brown/Purple Line station with 1M+ annual riders.
Surrounded by luxury condos, nightlife, and top-tier restaurants in the city’s dense urban-infill core, and home to a $183K+ average household income.
Chicago’s economy and population are diverse, productive, and affluent; Chicago is known as one of the most important business centers in the world.

Executive Summary

Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple interest in the 757 N Orleans Street property located in Chicago, Illinois. The property is currently 83% economically leased to Walgreens, which remains bound to its lease obligations despite ceasing operations at the location (“dark”). This creates an opportunity for the whole space to be leased (as the balance is vacant, formerly occupied by Bank of America and Verizon) and for the future landlord to receive a buyout from Walgreens (upon releasing the space) to relieve them of their continuing lease obligation. The property represents an acquisition opportunity in the Chicago metro area, one of the most desirable real estate markets in the country. With approximately 2.6 million residents, it is the third-most populous city in the United States and part of the third-largest metropolitan statistical area, with nearly 10 million people. The Property is located in River North, a vibrant neighborhood in the Near North Side of Chicago, known for high-rise condominiums, townhomes, and some of the city’s most popular restaurants and nightlife. The Property enjoys unmatched demographics in River North, with 113,654 residents and an average household income of $183,063 within a 1-mile radius. This offering presents investors with immediate cash flow from Walgreens while unlocking substantial upside potential through lease-up or redevelopment. Given the unmatched demographics, strong foot traffic, and excellent transit access via Interstate 90 and the nearby CTA “L” station, the property is well-positioned for a buyer looking to capitalize on Chicago’s dynamic real estate market. Property tours are by appointment only. Please contact the listing broker to schedule.

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Offering Memorandum Click Here to Access

Offering Memorandum
Operating and Financial Statements
Purchase Agreement
Third Party Reports
Miscellaneous

1 Unit Available

Unit First Floor Retail

Unit Size	13,738 SF	No. Parking Spaces	22
Condo Use	Retail	APN/Parcel ID	17-09-201-018-1097
Sale Type	Investment

Unit Size	13,738 SF
Condo Use	Retail
Sale Type	Investment
No. Parking Spaces	22
APN/Parcel ID	17-09-201-018-1097

Description

This well-trafficked property occupies 13,739 square feet of retail space on the ground floor of a 22-story residential condominium building, which was constructed in 2009. More than 20 dedicated parking spaces provide customers with convenience.

Property Facts

The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.

Total Building Size	521,708 SF	Typical Floor Size	20,868 SF
Property Type	Multifamily (Condo)	Year Built	2008
Property Subtype	Apartment General Retail Storefront Retail/Residential	Lot Size	0.60 AC
Building Class	A	Parking Ratio	0.41/1,000 SF
Floors	22	Type of Ownership	Fee Simple
Zoning	PD 780 - Planned Development

Total Building Size	521,708 SF
Property Type	Multifamily (Condo)
Property Subtype	Apartment General Retail Storefront Retail/Residential
Building Class	A
Floors	22
Typical Floor Size	20,868 SF
Year Built	2008
Lot Size	0.60 AC
Parking Ratio	0.41/1,000 SF
Type of Ownership	Fee Simple
Zoning	PD 780 - Planned Development

Site Amenities

24 Hour Access
Business Center
Clubhouse

Fitness Center
Pool

Doorman
Roof Terrace

Elevator
Sundeck

1 1

Aerial
Map

757 N Orleans St, Chicago, IL - Aerial map view - Image1

757 N Orleans St, Chicago, IL - Aerial map view - Image2

757 N Orleans St, Chicago, IL - Aerial map view - Image3

Exceptionally walkable

100/100

Fairly drivable

40/100

Exceptional public transit

100/100

Very bikeable

80/100

Source: Local Logic^®

Fujikawa Johnson Gobel Architects is a firm dedicated to high-quality architectural design and project delivery. Known for their technical expertise and no non-sense approach to problem solving, they have created a portfolio that includes urban office towers; contemporary suburban business centers; modern high-rise residential buildings; expansive mixed-use developments; interior space planning and renovations; childcare and educational facilities; luxury hotels and state-of-the-art structures for highly specific technical functions. They take pride in their client service. Their seasoned architects and designers maintain a close working partnership with the client and the rest of the design team at every stage of the planning, design, and construction process. This allows them to maintain a high degree of quality control from concept to close-out.

www.fjgarchitects.com

Schaumburg Corporate Center III

Schaumburg, IL, USA

Sale Advisors

(773) 963-2637

Contact

Isaiah Harf, Regional Managing Director

(773) 963-2637

Contact

Focusing on the sale of net leased assets, Harf has closed more than $3 Billion in total transaction volume and has partnered with some of the nation’s most respected and trusted institutions, private equity managers and merchant developers. As one of the lead business development and execution specialists for the team, Harf provides extensive knowledge to buyers and sellers of all profiles nationwide. Throughout the transactional process, Harf manages clients’ interests by providing guidance and facilitating the implementation of unique solutions to assure unparalleled performance. Harf has been interviewed multiple times by national publications on the state of net lease throughout his time with the firm. Prior to joining Stan Johnson Company, Harf worked with the leading national receivership firm. Harf headed the disposition department, with an emphasis on distressed asset optimization and strategy in secondary and tertiary markets. Harf’s previous clientele included prominent CMBS servicers, national banks, and opportunistic funds; having sold assets for LNR Partners, C-III Capital, CW Capital and Ocwen Financial.

(314) 301-1811

Contact

Blaise Bennett, Associate Vice President

(314) 301-1811

Contact

Focusing primarily on advising clients on the disposition, acquisition, and capitalization of net leased properties throughout the United States, Blaise Bennett has become an integral member of the team led by Bradley Feller. Bennett delivers unmatched dedication to client service by providing thorough and reasoned market research, expert financial analysis, and detailed asset valuation. His extensive financial and legal background effectively adds value and produces results for his clients.

Prior to joining Stan Johnson Company, Bennett was an attorney for a boutique Chicago based law firm where he was responsible for reviewing and negotiating real estate contracts, performing title review and clearance, and analyzing lease and loan documents.

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