Bought with Allon Skidelsky of Allon Skidelsky
$2,250,000
$2,250,000
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SOLD DATE : 04/29/2026
Key Details
Sold Price $2,250,000
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 12633712
Sold Date 04/29/26
Year Built 1890
Annual Tax Amount $42,190
Tax Year 2024
Lot Dimensions 25.1 X 132.4
Property Sub-Type Multi Family 5+
Property Description
Welcome to 1505 N. Dearborn Parkway, a vintage greystone apartment building with consisting of 7 units located in the heart of the Gold Coast, one of Chicago's most prestigious and supply-constrained residential neighborhoods. With 1507 N Dearborn, the properties represent a rare value-add opportunity within a premier submarket where renovated rental inventory is limited and long-term demand remains exceptionally strong. Both buildings feature striking curb appeal, classic greystone architecture, and well-preserved vintage details that resonate with Gold Coast renters. A new investor could modernize apartment interiors, enhance finishes, and capitalize on the unique and desirable floor plans to achieve meaningfully higher rent levels, while preserving the historic character that defines the neighborhood. The properties are offered individually or as a portfolio. In addition, available are adjacent properties at 1511 & 1515 N. Dearborn Parkway, which are currently gutted and present optional upside for a value-add investor or developer. Multiple offers received
Location
State IL
County Cook
Zoning MULTI
Interior
Cooling Central Air, Window Unit(s)
Fireplace N
Exterior
View Y/N true
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