This is an income-producing, mixed-use investment opportunity with a projected NOI of $147,639. The highly desirable historical River North property is adjacent to the highly acclaimed Tao restaurant and consists of five units, billboard income, and a shared outdoor garden patio. The property benefits from favorable remaining lease terms, an opportunity for short-term rental management or to convert STR unit(s) back to traditional residential apartment, and favorable DX-5 zoning permitting a variety of uses. Recent upgrades include a completely updated 3rd floor completed in 2025 and an updated 4th floor completed in 2021. The property is located in the heart of River North, offering exceptional walkability, immediate access to amenities, and easy access to major transport options, including the CTA Red, Brown, and Purple lines and 90/94 Expressway.
Property Details
Price:
$2,050,000
MLS #:
MRD12528262
Status:
Pending
Beds:
0
Baths:
0
Type:
Commercial
Subtype:
Mixed Use
Neighborhood:
chinearnorthside
Listed Date:
Dec 8, 2025
Year Built:
1890
See this Listing
Schools
Interior
Cooling
Central Air
Exterior
Stories
4
Financial
Tax Year
2024
Taxes
$36,329
Map
Community
- Address642 N Dearborn Street Chicago IL
- CityChicago
- CountyCook
- Zip Code60654
Market Summary
Current real estate data for Commercial in Chicago as of Jun 14, 2026
924
Commercial Listed
185
Avg DOM
$992,888
Avg List Price
Property Summary
- 642 N Dearborn Street Chicago IL is a Commercial for sale in Chicago, IL, 60654. It is listed for $2,050,000
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642 N Dearborn Street
Chicago, IL


