ON MARKET – MULTI-FAMILY
417 South Dearborn Street Chicago, IL 60605
NEIGHBORHOOD
South Loop
PRICE
$16,750,000
NUMBER OF UNITS
30
CAP RATE
6.11%
PROPERTY LISTED

UNIQUE OPPORTUNITY: Essex Realty Group, Inc. has been exclusively engaged to market for sale, The Plymouth @ 417 South Dearborn Street, a turn of the century classic building in the heart of Chicago’s Loop. This unique opportunity features 30 apartments, a ground level lobby, plus a rooftop club room & terrace. Sonder, Inc., an international hospitality company combining the comfort of a home or apartment rental with the amenities of a hotel, is in year 2 as the sole tenant of the property. The apartments were originally intended for student housing as several universities are located near the property.

AMAZING LOCATION: The subject parcel is in the heart of Chicago’s Loop, surrounded by a wide array of shopping and dining options, universities and public transportation. The property is located adjacent to the Harold Washington Library-State/Van Buren CTA Station, servicing the brown, orange, pink and purple lines, and is less than a mile from Chicago’s Auditorium Theatre and the popular Grant Park.

LOCATION DETAILS

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HIGHLIGHTS
  • 6.1% Cap Rate on Actual NOI
  • Beautifully Renovated Historic Vintage Building with 30 Apartment Units, a Ground Floor Lobby, and Rooftop Club Room & Terrace
  • Phenomenal Location on Dearborn Street Adjacent to Public Transportation, Universities, Shopping & More
  • Master Leased to Sonder Hospitality (Current Valuation $1bn+)
  • Reserve a Room! https://bit.ly/2NFEsJ2
LISTING BROKERS
Jim Darrow
Principal
773.305.4920
Jordan Gottlieb
Principal
773.305.4922