740 N Wells St

Chicago, IL 60654

$1,560,000
Last Sold Price
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Beds
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Baths
—Sq. Ft.
— / Sq. Ft.
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Sq. Ft.
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per Sq. Ft.
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Closed 1/16/26
Closed 1/16/26
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Description

In the heart of Chicago's vibrant River North, 740 N Wells presents a once-in-a-generation mixed-use opportunity-an address destined to be someone's future found. This three-story masonry jewel offers 3,465 square feet of gross building area on a 2,321-square-foot DX-5 zoned lot, boasting over 21 feet of Wells Street frontage, dramatic floor-to-ceiling windows, and soaring 11-foot ceilings. On-site parking-practically unheard of in this location-accommodates three vehicles, with the possibility for...In the heart of Chicago's vibrant River North, 740 N Wells presents a once-in-a-generation mixed-use opportunity-an address destined to be someone's future found. This three-story masonry jewel offers 3,465 square feet of gross building area on a 2,321-square-foot DX-5 zoned lot, boasting over 21 feet of Wells Street frontage, dramatic floor-to-ceiling windows, and soaring 11-foot ceilings. On-site parking-practically unheard of in this location-accommodates three vehicles, with the possibility for a fourth. The ground-floor commercial space (1,155 sq ft), most recently home to the renowned Carl Hammer Gallery, offers an open, light-filled display area, rear storage, and a full washroom. Direct access to a full unfinished basement adds valuable storage or build-out flexibility, ideal for retail, gallery, restaurant, or showroom use. Separate street access leads to two upper-level loft residences, each bathed in natural light through expansive windows and enriched by vintage wood floors and impressive ceiling heights. Unit Two showcases a dramatic built-in bookcase, while Unit Three boasts a wood-burning fireplace and a mezzanine bedroom for added character and function. Both feature full kitchens and baths, making them prime for premium rental income or inspired owner-occupancy. Positioned steps from the highly anticipated The Lake private members' club-and surrounded by new luxury residences, premier dining, and Chicago's largest art gallery district-this property enjoys unmatched foot traffic, vehicular exposure, and neighborhood prestige. The property was previously divided into three separate condominium/property ID numbers, creating a rare opportunity to buy the entire building with all three units. With River North residential rents commanding top-tier rates, 740 N Wells offers substantial income potential alongside exceptional end-user appeal. For the discerning investor, operator, or visionary, this is more than an address-it's a rare prize in a world-class location, with the flexibility, visibility, and inherent value to define your next chapter.
  1. Listed by Carrie McCormick • @properties Christie's International Real Estate
    P: (312)-961-4612 C: (312)-961-4612 carrie@atproperties.com

Sold By @properties Christie's International Real Estate

Property Details for 740 North Wells Street

Area
CHI - Near North Side
Township
North Chicago
Air Conditioning Type
Central Air, Central Individual
Num of Interior Fireplaces
1
Zoning
OTHER
LISTING UPDATED: 01/17/2026 11:04 AM

Property Details for 740 North Wells Street

StatusClosed
MLS #12464895
Days on Market43
Taxes$36,895 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1938
Lot Size0.05 AC / 2,321 SF
CountyCook County
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Location

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Building Information for 740 North Wells Street

Stories3Residences3Year Built1938Lot Size0.05 AC / 2,321 SF

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$10,645 per month

30 year fixed, 6.11% Interest

Principal and Interest

$7,571

Property Taxes

$3,075

HOA Dues

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Property Information for 740 North Wells Street

General Information
Addtl Parking Information
  • Outdoor Parking: 1-5 Spaces
Location and General Information
  • Geographic Locale: Chicago North
  • Information: List Broker Must Accompany
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Air Conditioning: Central Air, Central Individual
  • Electric: Separate Meters
  • Flooring: Carpet, Terrazzo, Tile, Wood
  • # Of Washers: 1
  • Heat/Ventilation: Central Heat/Indiv Controls,Gas
  • # Of Refrigerators: 2
  • Misc Inside: Multi-Tenant,Private Restroom/s,Skylight/s,Storage Inside,Basement,Mezzanine
  • # Of Dryers: 1
  • # Of Disposals: 1
  • # Of Dishwashers: 1
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 2
  • Misc Outside: Balcony/ies
Property/Lot Information
  • Owners Association: No
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 21 x 110
  • Lot Size Square Feet: 2321.0
  • Stories: 3
  • Construction: Brick
  • Fire Protection: Other
  • Roof Structure: Flat
  • Foundation Details: Concrete Perimeter
  • Building Area Total: 3809
  • # Of Offices: 0
  • Other SqFt: 2653
  • Retail SqFt: 1142
  • # Of Ranges: 2
  • # Of Stores: 1
  • MRD_UNC: No
Property and Assessments
  • Possible Use: Commercial, Condominium, Office, Multi-Family, Retail
  • Buyer Financing: Conventional
  • Docks: None
  • Public Document Count: 4
  • Document Date: 2025-09-05T21:32:40
  • Photos Count: 47
Miscellaneous
  • Location: Mixed Use Area,In City Limits
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 3
Income & Expenses
  • Electric Expense: $3,245.00
  • Fuel Expense: $2,920.00
  • Gross Income: $.00
  • Gross Scheduled Income: $.00
  • Insurance Expense: $7,835.00
  • Total Monthly Income: 0
  • Other Expense: $.00
  • Trash Expense: $3,744.00
  • Water Sewer Expense: $350.00

Property History for 740 North Wells Street

DateEvent & SourcePriceAppreciation
Jan 16, 2026

Sold

MRED #12464895

$1,560,000—
Oct 21, 2025

Pending

MRED #12464895

—
Oct 21, 2025

Contingent

MRED #12464895

—
Sep 9, 2025

Listed (Active)

MRED #12464895

$1,550,000—
DateEvent & SourcePrice
01/16/2026

Sold

MRED #12464895

$1,560,000
10/21/2025

Pending

MRED #12464895

—
10/21/2025

Contingent

MRED #12464895

—
09/09/2025

Listed (Active)

MRED #12464895

$1,550,000

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

Schools near 740 North Wells Street

This home is within Chicago Public Schools.
Rating
School
Type
Grades
Distance
Ogden Elementary School
Public - PK to 8
Wells Community Academy High School
Public - 9 to 12
Salazar Elementary Bilingual Center
Public - PK to 8
Payton College Preparatory High School
Public - 9 to 12
Rating
School
Distance
Ogden Elementary School
PublicPK to 8

Wells Community Academy High School
Public9 to 12

Salazar Elementary Bilingual Center
PublicPK to 8

Payton College Preparatory 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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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.

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 01/17/2026 11:04 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.