Sold

868 N Franklin Street

Chicago IL, 60610

$2,995,000


$312.34 per sqft

Sold

9,589 sqft

Commercial

Built in 1921

Courtesy of Sperry Van Ness

Unique, fully built-out restaurant bldg w/ existing infrastructure & substantial land and air rights for development adding value. As the long-time home of nationally acclaimed MK restaurant, this property is a fully-fixtured restaurant with approximately 5,715 SF above grade along plus a full-height approx. 3900 SF lower level, which contains all back of the house infrastructure for a restaurant. Total SF is 9589. Bldg has mezz & 2nd-level for private dining or other purposes. Space features soaring ceilings w/ bow truss roof in the main dining room, massive skylight, exposed brick & timber beams throughout; 2 ADA restrooms, bar, lounge, and potential for outdoor seating. Property could also be utilized for other uses including a nightclub, venue, banquet, office, medical, salon/spa, fitness, gallery, showroom, childcare, or school. Existing C1-5 zoning allows for 24,000 SF bldg to be constructed on-site w/o any zoning relief. Located in a TOD zone allowing for decreased parking requirements for new resi/mixed-use development. For sale at $2,995,000 or for lease at $35/sf NNN. Lease rate will only be charged on the 5715 SF above grade - lower level is included in the rent - no extra charge.

10845194

MLS ID

September 2, 2020

Listed

February 16, 2024

Updated

Map

868 N Franklin Street
Chicago IL, 60610

Interior Features

Total Stories

3


Fireplace

No


Cooling

Yes


Cooling Description

Central Individual


Heating

No

Exterior/Building Features

Lot Size

0.11 Acres

Other Property Details

Area Name

CHI - Near North Side


Taxes

$67,049


Tax Frequency

Annually


Days on Market

818


Garage

No


View

No


County

Cook


Pool

No


Zoning

RTAIL


Buyer Agency Compensation

3% ON SALE /3% ON FIRST 5 YRS OF TERM BASE RENT + 2% ON NEXT 5 YRS ON LEASE PER SEPARATE AGREEMENT

Courtesy of Sperry Van Ness, Wayne Caplan,
Listing Contact: 773-793-7294 

The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

Based on information submitted to the  MLS GRID for MRED 2/16/2024. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and MRED 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. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.

©2024 Listings Courtesy of MRED as distributed by MLS GRID. All rights reserved.

Data last updated 12:54 AM UTC, 2/16/2024

 

 

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