868 North Franklin StreetChicago, IL 60610Price: $2,995,000

  • Price: $2,995,000
  • 753 Days on Market
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Federal 30-year interest rate: 6.29% last updated on Sep 22, 2022
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 9,589Square Feet
  • 1921Year Built

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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.

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Listed by Wayne Caplan of Sperry Van Ness

Based on information submitted to MRED  as of September 26, 2022 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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