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55 E Erie St
Chicago, IL 60611 River North

$3,000,000 USD

Apartments Condo For Sale  •  3,979 SF

Property Details

  • Property Type Apartments
  • Total Building Size 692,835 SF
  • Lot Size 0.62 AC
  • Building Class A
  • Year Built 2004
  • Zoning DX-12
100 Transit Score
100 Walk Score

1 Unit Available

Name Condo Use Size Price Details
Grnd Floor - Unit C-1 Office 3,979 SF $3,000,000 USD
  • Unit Size: 3,979 SF
  • Condo Use: Office
  • Price: $3,000,000 USD
  • Sale Type: Investment
  • Price/SF: $753.96 USD
Description
This 3,979-SF ground-floor retail condo was renovated in 2024 for Compass Real Estate, a nationwide residential real estate brokerage.

Sale Notes
Marcus & Millichap is pleased to exclusively offer the opportunity to acquire the fee simple interest in a Compass Real Estate Agency office, located at 55 East Erie Street, Suite C-1, Chicago, IL 60611 (the “Property”).

Compass has signed a brand new 7-year lease in 2024, with the primary term now running through May 2031. The lease includes 3% annual rental increases during the primary term and two (2) five-year renewal options.

The Property features 3,979 square feet of rentable building area on approximately 0.61 acres of land along East Erie Street (± 20,000 vehicles per day). The location benefits from excellent demographics, with nearly 1.2 million residents within a 5-mile radius and an average household income ranging between $100,000 and $150,000. It is also near two major educational institutions, Loyola University Chicago and the School of the Art Institute of Chicago.

Description 

55 East Erie is a luxury high-rise condominium building located just steps from the heart of Chicago’s famed Magnificent Mile. The 56-story tower affords residents breathtaking views of Lake Michigan and the incredible Chicago skyline in all four directions.

Highlights

Proximity to Landmarks: Just a short walk to the Magnificent Mile, offering world-class shopping and dining options. Close to cultural landmarks such
Public Transportation: Close to the Grand (Red Line) and Chicago (Red Line) subway stations. Numerous bus routes serve the area, providing convenient
Schools and Education: Nearby educational institutions include Loyola University Chicago and the School of the Art Institute of Chicago.
Healthcare: Close to Northwestern Memorial Hospital, and Lurie Children’s Hospital
Economic and Demographic Data: The Near North Side is one of Chicago’s wealthiest neighborhoods, with high average household incomes and property valu
Estimated Traffic Volume: Erie Street is a busy urban street, especially given its proximity to major commercial and residential areas. Streets in thi

Amenities

  • Air Conditioning
  • Balcony
  • Clubhouse
  • Disposal
  • Fireplace
  • Fitness Center
  • Property Manager on Site
  • Sauna
  • Security System
  • Spa
  • Heating
  • Doorman
  • Dry Cleaning Service
  • Kitchen
  • Refrigerator
  • Tub/Shower
  • Elevator
  • Wheelchair Accessible (Rooms)

Public Transportation

Commuter RailDriveWalkDistance
Chicago Millennium Station (Metra Electric Line - Northeast Illinois Regional Commuter Railroad (Metra), South Shore Line - Northeast Illinois Regional Commuter Railroad (Metra)) 3 min 16 min 0.8 mi
Chicago Ogilvie Transportation Center (Union Pacific North Line - Northeast Illinois Regional Commuter Railroad (Metra), Union Pacific Northwest Line - Northeast Illinois Regional Commuter Railroad (Metra), Union Pacific West Line - Northeast Illinois Regional Commuter Railroad (Metra)) 4 min - 1.5 mi
Transit/SubwayDriveWalkDistance
Grand Avenue Station (Red Line) (Red Line - Chicago Transit Authority "L" Trains (The "L")) 0 min 4 min 0.2 mi
Chicago Avenue Station (Red Line) (Red Line - Chicago Transit Authority "L" Trains (The "L")) 0 min 6 min 0.3 mi
State/Lake Station (Downtown Loop) (Brown Line - Chicago Transit Authority "L" Trains (The "L"), Green Line - Chicago Transit Authority "L" Trains (The "L"), Orange Line - Chicago Transit Authority "L" Trains (The "L"), Pink Line - Chicago Transit Authority "L" Trains (The "L"), Purple Line - Chicago Transit Authority "L" Trains (The "L")) 2 min 12 min 0.6 mi
Chicago Avenue Station (Brown, Purple Lines) (Brown Line - Chicago Transit Authority "L" Trains (The "L"), Purple Line - Chicago Transit Authority "L" Trains (The "L")) 1 min 12 min 0.6 mi
Merchandise Mart Station (Brown Line - Chicago Transit Authority "L" Trains (The "L"), Purple Line - Chicago Transit Authority "L" Trains (The "L")) 1 min 14 min 0.7 mi
AirportDriveWalkDistance
Chicago Midway International 20 min - 12.0 mi
Chicago O'Hare International 28 min - 17.5 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 30
Type: AttachedGarage
Included in Rent: Yes
Research In Progress Research In Progress
Research In Progress Research In Progress