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$2,150,000

  • For Sale
  • Active
  • Commercial
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This is an income-producing, mixed-use investment opportunity with a projected NOI of $135,514. The highly desirable historical River North property is adjacent to the highly acclaimed Tao restaurant and consists of five units, billboard income, and a shared outdoor garden patio. The property benefits from favorable remaining lease terms, an opportunity for short-term rental management for additional income, and favorable DX-5 zoning permitting a variety of uses. Recent upgrades include a completely updated 3rd floor completed in 2025 and an updated 4th floor completed in 2021. The property is located in the heart of River North, offering exceptional walkability, immediate access to amenities, and easy access to major transport options, including the CTA Red, Brown, and Purple lines and 90/94 Expressway.

Full Property Details for 642 N Dearborn St

General

  • Price: $2,150,000
  • Taxes: $36,329 (2024)
  • Status: Active
  • Type: Commercial
  • Source: MRED
  • MLS ID: 12528262
  • Updated: 12/14/2025
  • Added to Site: 39 day(s) ago

Additional Information

  • Security/Safety: Alarm on Site

Location

  • Area: CHI - Near North Side
  • County: Cook
  • Driving Directions: On N Dearborn St at Erie St
  • Location Details: Chicago North

Heating & Cooling

  • Cooling Type: Central Air Conditioning
  • Heating Type: Central Building Heat

Utilities

  • Trash: 2880

Structural Information

  • Stories/Levels: 4
  • # of Stores: 2
  • Year Built: 1890
  • Built Before 1978: Yes

Lot Features

  • Lot Size (Sq. Ft.): 2,614
  • Lot Dimensions: 50 x 100

Financial Considerations

  • Insurance Fee: $5,013
  • Other Fee: $2,651
  • Security Deposit: Alarm On Site
  • Assessment Year: 1890
  • Tax Amount: $36,329
  • Tax Year: 2024
  • Pays Electric: 330
  • Pays Trash: 2880

Disclosures and Reports

  • Property ID: 17092260070000

Listed by Sperry Van Ness

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— 642 N Dearborn St —

  • Sperry Van Ness

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NMLS#: 1598647

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Schools serving 642 N Dearborn St

School District:Chicago Public School District 299
NameGradesDistance
Ogden Elementary School
24 West Walton Street, Chicago, IL 60610
K-80.5 mi
Wells Community Academy High School
936 North Ashland Avenue, Chicago, IL 60622
9-112 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 642 N Dearborn St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
12/08/2025
Listed
$2,150,000
95.45%
MLS
12/03/2013
Sold
$1,100,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 642 N Dearborn St

Year
Property Taxes
Change
Tax Assessment
Change
2023
$27,804
-1%
$131,777
-3%
2022
$28,042
-1%
$136,337
-3%
2021
$28,368
18%
$141,070
30%
2020
$24,112
—
$108,237
-10%
2019
$24,080
-8%
$119,855
-10%
2018
$26,200
32%
$132,637
44%
2017
$19,822
7%
$92,080
—
2016
$18,443
9%
$92,080
—
2015
$16,873
-36%
$92,080
-35%
2014
$26,434
2%
$142,471
—
2013
$25,912
17%
$142,471
16%
2012
$22,087
—
$123,084
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Sperry Van Ness

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642 N Dearborn Street, Chicago, IL 60654 (MLS# 12528262) is a Commercial property. 642 N Dearborn Street is currently listed for $2,150,000 and was received on December 08, 2025. Want to learn more about 642 N Dearborn Street? Do you have questions about finding other Commercial real estate for sale in Near North Side? You can browse all Near North Side real estate or contact a Coldwell Banker agent to request more information.

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