721-777 Olive St
Saint Louis, MO 63101
The Chemical Building · Immeuble residentiel Propriété À vendre · 140 Unités

CBRE, as exclusive investment advisor and broker, is pleased to offer for sale The Chemical Building (the “Property”). Designed by famed Chicago architect Henry Ives Cobb, construction of the 17-story building (not incl. the basement) was completed in 1896 and, for many years, was operated as a commercial and office building. Currently vacant, the Property is now ready to be redeveloped to its highest and best use. With wide open and spacious floor plates with generous ceiling heights, the Property is ideally suited for multifamily, hotel, senior living, office, or mixed-use space redevelopment. Located on Olive Street between 7th Street and 8th Street, the Property occupies a 0.33-acre site within the Mercantile Exchange - a trendy and dynamic retail and entertainment district - and is located adjacent to Hotel Saint Louis Autograph Collection and the Old Post Office Plaza. Moreover, the Property is within walking distance of Downtown St. Louis’ many attractions including, but not limited to, the St. Louis Convention Center, The Gateway Arch National Park, and Ballpark Village - a multi-phased mixed-use retail, entertainment, office, and residential district being developed in partnership with the St. Louis Cardinals. The development will span seven city blocks and is directly adjacent to and integrated with the Cardinals’ Busch Stadium. It should also be noted that the Property is located within a Federal Qualified Opportunity Zone, has previously been approved for a 10-Year Tax Abatement, and is approved for Federal Historic Tax Credits and Missouri State Historic Tax Credits. Indeed, The Chemical Building is a property where history meets a bright future, with an opportunity to create refreshing spaces with unique character in a neighborhood alive with optimism and activity.