Sold
868 N Franklin Street
Chicago IL, 60610
$2,650,000
$276.36 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
March 28, 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
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Data last updated 4:18 AM UTC, 3/28/2024