314 S Federal Street

Description

PRICE REDUCTION: We are proud to present the opportunity to acquire a historic building positioned in a strong transit oriented location in busy Downtown Chicago. 314-316 S Federal Street contains a total of 17,500 square-feet comprised of seven 2,500 square-foot floors and an additional 2,500 square-foot built-out and usable lower level. Located in Chicago's Loop near the corner of Jackson & Dearborn Streets, the building benefits greatly from its position between two CTA stops serving the Blue, Brown, Orange, Pink, and Purple Line trains. Steps from the Financial District on LaSalle, 314-316 S Federal Street offers immediate access to Chicago's best dining, shopping, and amenities. The property is also within immediate proximity to I-290, I-90/I-94, and Lake Shore Drive, offering easy access to businesses and residential neighborhoods throughout the Chicago Metro Area. A perfect opportunity for redevelopment, the floors lay out nicely for office, hospitality, or residential. Notably, boutique hotels opened in buildings this size have enjoyed distinct recent success in and around Chicago's Loop. The first floor and lower level offer ideal retail potential - a restaurant was successful there for many years. The building currently zoned DC-16, which allows for an additional nine stories. The property shares it's south wall with a large public parking garage for visitors. Built in 1912, this asset is also an excellent candidate for Class L Property Tax Incentive, further strengthening its viability for robust growth as an investment.