1375 W Lake St

Chicago, IL 60607

$9,750,000
Price
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Baths
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a city view with tall buildings
an aerial view of a house with a garden
a view of a balcony with chairs

Description

Pleased to offer for sale a 23,000 SF re-development opportunity in Chicago's dynamic Fulton Market neighborhood. The property, located at 1375 W Lake Street, has been the longtime home of "Bottom Lounge", a renowned 18,000 SF hospitality venue specializing in live music with a full-service restaurant kitchen, large bar/restaurant space and a 2nd floor catering facility with a large outdoor deck and parking for 25 cars. The site is currently zoned C1-3 but sits in the "Downtown Expansion-West" area...Pleased to offer for sale a 23,000 SF re-development opportunity in Chicago's dynamic Fulton Market neighborhood. The property, located at 1375 W Lake Street, has been the longtime home of "Bottom Lounge", a renowned 18,000 SF hospitality venue specializing in live music with a full-service restaurant kitchen, large bar/restaurant space and a 2nd floor catering facility with a large outdoor deck and parking for 25 cars. The site is currently zoned C1-3 but sits in the "Downtown Expansion-West" area as well as being in a TOD (Transit Oriented Development) zone, both of which allow for increases in density and parking relief for vertical multi-family development. The property is positioned in the midst of many recent and soon-to-come high-rise residential, mixed-use, office, life- science, hotel, etc., properties and is suitable for many different types of re-development. The current ownership is in a position to afford a developer time for re-zoning the property to suit their needs. Additionally, the business (Bottom Lounge), will continue to operate for a period of time and is open to entertaining a short-term sale- leaseback. This is a rare opportunity to acquire a large development site in one of the most sought-after sub-markets in the entire country.
  1. Listed by Wayne Caplan • Sperry Van Ness
    P: (312)-529-5791 C: (773)-793-7294 wayne.caplan@svn.com;wcaplan2003@yahoo.com

Property Details for 1375 West Lake Street

Area
CHI - Near West Side
Air Conditioning Type
Central Air
Zoning
COMMR
LISTING UPDATED: 02/22/2026 12:07 AM

Property Details for 1375 West Lake Street

StatusActive
MLS #12338744
Days on Market75
Taxes$226,655 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1920
Lot Size0.54 AC / 23,518 SF
CountyCook County
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Location

Listing Courtesy of Sperry Van Ness
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Building Information for 1375 West Lake Street

Stories3Residences1Year Built1920Lot Size0.54 AC / 23,518 SF

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$66,206 per month

30 year fixed, 6.11% Interest

Principal and Interest

$47,318

Property Taxes

$18,888

HOA Dues

$0

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Property Information for 1375 West Lake Street

General Information
Addtl Parking Information
  • Outdoor Parking: 6-12 Spaces
Location and General Information
  • Geographic Locale: Chicago West
  • Information: List Broker Must Accompany,48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Air Conditioning: Central Air
  • Electric: Circuit Breakers, Service - 201 to 600 Amps
  • Heat/Ventilation: Forced Air,Gas
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 0
Property/Lot Information
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 124x188
  • Lot Size Square Feet: 23518.0
  • Stories: 3
  • Exterior Building Type: Brick
  • Construction: Brick
  • Fire Protection: Other
  • Building Area Total: 18000
  • # Of Offices: 0
  • Other SqFt: 18000
  • # Of Stores: 1
  • Property Sub Type: Mixed Use
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 4
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 1
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $.00
  • Gross Income: $.00
  • Gross Scheduled Income: $.00
  • Insurance Expense: $.00
  • Total Monthly Income: 0
  • Other Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $.00

Property History for 1375 West Lake Street

DateEvent & SourcePriceAppreciation
Feb 16, 2026

Listed (Active)

MRED #12338744

$9,750,000—
Feb 16, 2026

Listed (Active)

MRED #12338751

$9,750,000—
DateEvent & SourcePrice
02/16/2026

Listed (Active)

MRED #12338744

$9,750,000
02/16/2026

Listed (Active)

MRED #12338751

$9,750,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1375 West Lake Street

Taxable ValueLand$123,130Additions$465,283Total$588,413
Tax Record2023$124,575 ($10,381 / month)
Home Facts
Total Finished SqFt38,100 SqFtAbove Grade Finished SqFt38,100 SqFtStories2Lot Size14,072 SqFtStyleStoresYear Built1920CountyCOOKAPN17-08-324-003

Schools near 1375 West Lake Street

This home is within Chicago Public Schools.
Rating
School
Type
Grades
Distance
Skinner Elementary School
Public - PK to 8
Wells Community Academy High School
Public - 9 to 12
Rudolph Elementary Learning Center
Public - PK to 8
Rauner College Prep
Charter - 9 to 12
Rating
School
Distance
Skinner Elementary School
PublicPK to 8

Wells Community Academy High School
Public9 to 12

Rudolph Elementary Learning Center
PublicPK to 8

Rauner College Prep
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1375 West Lake Street, Chicago, IL 60607

1375 West Lake Street is a mixed use property for sale in Chicago, IL 60607. This property was listed for sale on February 16, 2026 by Sperry Van Ness, it's currently listed at $9,750,000. This listing's school district is Chicago Public Schools. Nearby schools include Skinner Elementary School, Wells Community Academy High School and Rudolph Elementary Learning Center. 1375 West Lake Street is a 0-bed, 0-bath, mixed use property built in 1920.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Sperry Van Ness

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 02/22/2026 12:07 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.