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$ 4,895,000
Est. payment | /mo
$ 4,895,000
Est. payment | /mo
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 12557284
Maintenance Fees $3,750
Year Built 1888
Annual Tax Amount $125,366
Tax Year 2024
Lot Dimensions 25.1 X 132.4 X 41 X 132.4
Property Sub-Type Multi Family 5+
Property Description
Welcome to 1505-07 N. Dearborn Parkway, a pair of adjacent vintage greystone apartment buildings located in the heart of the Gold Coast, one of Chicago's most prestigious and supply-constrained residential neighborhoods. The properties represent a rare value-add opportunity within a premier submarket where renovated rental inventory is limited and long-term demand remains exceptionally strong. Both buildings feature striking curb appeal, classic greystone architecture, and well-preserved vintage details that resonate with Gold Coast renters. A new investor could modernize apartment interiors, enhance finishes, and capitalize on the unique and desirable floor plans to achieve meaningfully higher rent levels, while preserving the historic character that defines the neighborhood. The properties are offered individually or as a portfolio. In addition, available are adjacent properties at 1511 & 1515 N. Dearborn Parkway, which are currently gutted and present optional upside for a value-add investor or developer. Multiple offers received - Highest and best offers are due by 2/7 and will be presented to sellers on 2/9
Location
State IL
County Cook
Area Chi - Near North Side
Zoning MULTI
Interior
Cooling Central Air, Window Unit(s)
Fireplace N
Building
Dwelling Type Multi Family 5+
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Jeffrey Lowe of Compass
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