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Chicago, IL 60661

$12,500,000
Coming Soon / MLS# 12603386 / Commercial - Business / Chicago
0 Beds

RARE OPPORTUNITY. Fully operational Hostel/Rooming house which has gone an extensive renovation that rivals a modest hotel accommodation. This is a four story building with full basement originally erected in 1864, pre-dating the Great Chicago Fire of 1871. First floor is a 5,000 square foot restaurant space, formerly the Parthenon Restaurant. Restaurant kitchen is completely intact and fully equipped, black iron exhaust, all equipment is operational for turnkey operation. The upper three floors are a European Hostel which have been completely gut renovated into contemporary luxury rooms, shared bathrooms. All rooms have modern, contemporary beds, linens, furniture, cell phone charging stations, locker storage or built in surface tables for desk areas or computer stations. Over 140 beds. Capital improvements include tuck pointing, complete west side brick wall replacement, tar coated rubber roof with silver coating, all copper plumbing, newer mechanical systems, some separation of gas, electric and water meters. Three huge hot water tanks. Housekeeping washer and dryers. Restaurant storage in full basement; cooler, abundant storage, specific liquor storage, freezer, two sump pumps. Sophisticated camera/security system throughout premises. RMS run booking/accounting system for hostel already built and turnkey for next user/operator. DX-5 ZONING. 6,250 land square feet. Building is 27,404 square feet. Real Estate taxes successfully have been contested and reduced. Ask for additional information on financials, P/L, reduced tax bill, etc.

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Baird & Warner Nicholas Colagiovanni 312.501.5151 Email

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Property Details

Property Type: Commercial - Business
Cooling: Central Individual
Lot Size: 0.14 Acres
Stories: 4.0
Year Built: 1910

Feature Descriptions

Current Use: Commercial
Electric: Service - 201 to 600 Amps
Fire Protection: Alarm On Site, Ansul System
Frontage Type: City Street
HVAC: Forced Air
Location: Mixed Use Area
Lot Dimensions: 50*125
Miscellaneous Indoor: Public Restroom/s, Storage Inside, Basement
Number of Tenant(s): 1
Parcel#: 17172280120000
Tenant Pays: Air Conditioning, Electricity, Heat, Janitorial Service, Taxes, Insurance, Repairs, Sewer
Units: 1

Location

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