642 N Dearborn St

$2,150,000
Price
Beds
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

This is an income-producing, mixed-use investment opportunity with a projected NOI of $135,514. 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 for additional income, and favorable DX-5 zoning permitting a variety of uses. Recent upgrades include a completely...This is an income-producing, mixed-use investment opportunity with a projected NOI of $135,514. 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 for additional income, 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.
  1. Listed by Scott Maesel • Sperry Van Ness
    P: (312)-676-1860 scott.maesel@svn.com;scott.maesel@svn.com

Property Details for 642 North Dearborn Street

Area
CHI - Near North Side
Air Conditioning Type
Central Air
LISTING UPDATED: 12/14/2025 12:07 AM

Property Details for 642 North Dearborn Street

StatusActive
MLS #12528262
Days on Market21
Taxes$36,329 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1890
Lot Size0.06 AC / 2,614 SF
CountyCook County

Location

Listing Courtesy of Sperry Van Ness
Add your commute

Building Information for 642 North Dearborn Street

Stories4Residences5Year Built1890Lot Size0.06 AC / 2,614 SF

Payment Calculator

$13,651 per month

30 year fixed, 6.28% Interest

Principal and Interest

$10,624

Property Taxes

$3,027

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 642 North Dearborn Street

General Information
Location and General Information
  • Geographic Locale: Chicago North
  • Information: 48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Central Air
  • Electric: Separate Meters
  • Heat/Ventilation: Central Bldg Heat
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 3
Property/Lot Information
  • Built Before 1978: Yes
  • Approximate Age: New Rehab
  • Lot Dimensions: 50X100
  • Lot Size Square Feet: 2614.0
  • Stories: 4
  • Fire Protection: Alarm On Site
  • # Of Offices: 0
  • # Of Stores: 2
  • Property Sub Type: Mixed Use
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 12
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 5
Income & Expenses
  • Electric Expense: $330.00
  • Fuel Expense: $1,080.00
  • Gross Income: $198,922.00
  • Gross Scheduled Income: $135,514.00
  • Insurance Expense: $5,013.00
  • Total Monthly Income: 11292
  • Other Expense: $2,651.00
  • Trash Expense: $2,880.00
  • Water Sewer Expense: $1,200.00

Property History for 642 North Dearborn Street

DateEvent & SourcePriceAppreciation
Dec 8, 2025

Listed (Active)

MRED #12528262

$2,150,000
Aug 7, 2017

Cancelled

MRED #09654327

$2,250,000
Jun 9, 2017

Cancelled

MRED #09267256

$2,250,000
Jun 9, 2017

Listed (Active)

MRED #09654327

$2,250,000
Sep 1, 2016

Listed (Active)

MRED #09267256

$2,250,000
Oct 25, 2013

Cancelled

MRED #08422895

$1,250,000
Aug 16, 2013

Listed (Active)

MRED #08422895

$1,250,000
DateEvent & SourcePrice
12/08/2025

Listed (Active)

MRED #12528262

$2,150,000
08/07/2017

Cancelled

MRED #09654327

$2,250,000
06/09/2017

Cancelled

MRED #09267256

$2,250,000
06/09/2017

Listed (Active)

MRED #09654327

$2,250,000
09/01/2016

Listed (Active)

MRED #09267256

$2,250,000
10/25/2013

Cancelled

MRED #08422895

$1,250,000
08/16/2013

Listed (Active)

MRED #08422895

$1,250,000

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

Schools near 642 North Dearborn Street

This home is within Chicago Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Charter - 7 to 11
Public - 9 to 12
Rating
School
Distance
Ogden Elementary School
PublicPK to 8

Wells Community Academy High School
Public9 to 12

Art in Motion Charter School
Charter7 to 11

York Alternative High School
Public9 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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642 North Dearborn Street is a mixed use property for sale in Chicago, IL 60654. This property was listed for sale on December 8, 2025 by Sperry Van Ness, it's currently listed at $2,150,000. This listing's school district is Chicago Public Schools. Nearby schools include Ogden Elementary School, Wells Community Academy High School and Art in Motion Charter School. 642 North Dearborn Street is a 0-bed, 0-bath, mixed use property built in 1890.

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 12/14/2025 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.