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Listing provided courtesy of Sperry Van NessMREDas Distributed by MLSGrid- MLS# 12528262MLS Provider

642 N Dearborn StreetChicago, IL 60654

Commercial
$2,050,000 Active

642 N Dearborn Street Overview

Time on Site:
204 days
Visits:
5

This is an income-producing, mixed-use investment opportunity with a projected NOI of $148,318. 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.

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642 N Dearborn Street Facts & Features

  • Type Commercial

Details

General

Income/Expenses

  • Other Expense: 2651
  • Electric Expense: 330
  • Fuel Expense: 1080
  • Gross Income: 197802
  • Gross Scheduled Income: 135514
  • Insurance Expense: 5013
  • Trash Expense: 2880
  • Water Sewer Expense: 1200

Building Information

  • Year Built: 1890

Location/Region

  • County Or Parish: Cook
  • MLS Area Major: CHI - Near North Side

Tax Information

  • Tax Annual Amount: $36,329.00
  • Tax Year: 2024

General Information

  • Parcel Number: 17092260070000
  • Property Sub Type: Mixed Use
  • Property Type: Commercial Sale

Interior

General Information

  • Cooling: Central Air
  • Electric: Separate Meters
  • Stories: 4

Exterior

Lot Information

  • Additional Parcels: No
  • Lot Size Dimensions: 50X100
  • Lot Size Square Feet: 2614

General Information

  • Number Of Units Total: 5

642 N Dearborn Street Neighborhood

Community

60654 (Chicago) Demographics

33
Median Age
34,153
Population Density (per sq. mile)
89%
College Educated
$128,101
Estimated Median Income
4,958
Estimated Total Home Owners
8,223
Estimated Total Renters
38% / 62%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

642 N Dearborn Street Monthly Cost

$
$ %
%
$
$
Randall Fowlkes
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

642 N Dearborn Street Market Data

Based on the last 30 days in this zip code

$812,484
Average List Price
$575
Average Price per Square Foot
67
Properties Sold
61
Average Days on Market
163
Properties for Sale
Calculations provided by Reliance Network

642 N Dearborn Street History

Date Event Value Agent
6/29/2026Source: MRED Status Change
Active
6/22/2026Source: MRED Status Change
Re-activated
6/2/2026Source: MRED Status Change
Pending
5/4/2026Source: MRED Status Change
Active
4/29/2026Source: MRED Price Reduction
$2,050,000 -4.7%
4/29/2026Source: MRED Status Change
Price Change
12/13/2025Source: MRED Status Change
Active
12/8/2025Source: MRED Added to Database
December 08, 2025
6/20/2022Source: MRED Added to Database
January 27, 2022