FOR SALE: River North / Old Town Loft Office Building 13,000 SF Building on 5,190 SF Site
315 WEST WALTON STREET CHICAGO, ILLINOIS 60610
EXECUTIVE SUMMARY: 315 W Walton St, located between Chicago’s vibrant River North Gallery District and Old Town Neighborhoods along the western edge of the Moody Bible Institute’s campus, offers a rare owner-user and/or adaptive reuse opportunity in one of Chicago’s most desirable areas. Over the next decade the area immediately surrounding the property will undergo a massive transformation as the 10-acres of land the Moody Bible Institute is selling allows for upwards of 3.6 million square feet of new development.
PROPERTY HIGHLIGHTS: • 13,000 sq. ft. Office Building David P. Kimball • 5,190 sq. ft. Site Size (51.7’ x 100.5’) 312.558.3858 • Currently Occupied by a Nonprofit on a Short Term Lease [email protected] • C1-3 Zoning / 3.0 FAR / TOD Eligible • Located ~1,000 feet from CTA “L” Brown / Purple Line (Chicago Stop) Jay G. Beadle • 27th Ward (Alderman Walter Burnett Jr.) 312.558.3862 [email protected] • ASKING PRICE: Subject to Offer PROPERTY OVERVIEW
315 W Walton St
Lincoln Yards Old Gold 315 W Walton St Town Coast West Streeterville Town River North Fulton Market
West Loop Loop
N PROPERTY OVERVIEW
Address: 315 W Walton St Chicago, IL 60610
County: Cook County
Neighborhood: River North / Old Town
Price: Subject to Offer
Property Type: Loft Office Building
Building Size: 13,000 sq. ft. (approximately)
Total Land Area: 5,190 sq. ft. (0.12 acres)
Site Dimensions: 51.7’ x 100.5’
Floor Sizes & Heights: Floor Size (approx.) Ceiling Heights Floor Grade 2nd Floor: 4,400 sq. ft. 10’0” to 13’3” (finished) 1st Floor: 4,400 sq. ft. 12’0” (exposed) 5’0” above grade Basement: 4,200 sq. ft. 9’0” (finished) / 9’8” (exposed) 4’9” below grade
Parking: There is an existing concrete ramp (7’3” clear) to basement but currently not striped for parking. Monthly, daily, and hourly parking is available next door in the 150 stall garage at the Niche 905 apartment building as well as under the EL tracks through SpotHero. Metered street parking in front of bldg.
Tenant Lease: Short term lease in place with nonprofit user. Lease can be provided upon request.
Frontage: 51.66 feet on Walton St
Zoning: C1-3
FAR: 3.0 (+0.5 TOD)
Ward: 27th Ward (Ald. Walter Burnett Jr.)
Tax ID Pin(s): 17-04-429-010-0000
Taxes: N/A – Not on Tax Roll
Electric Power: 600-amp, Three Phase, 208V
Roof: Pitched roof
Existing Curb Cuts: 1 on Walton St
D-I-D / Dock: 1 drive-in-door off Walton (10’0” x 14’6”) + 1 dock off alley (5’6” x 5’5”)
Public Transportation: CTA “L” Brown / Purple Line - Chicago Stop: 1,050 +/- feet ~ 6 min. walk CTA “L” Red Line - Division Stop: 1,770 +/- feet ~ 10 min. walk CTA “L” Red Line - Chicago Stop: 2,360 +/- feet ~ 13 min. walk CTA Bus - #37 Sedgwick: 260 +/- feet ~ 2 min. walk CTA Bus - #156 LaSalle: 950 +/- feet ~ 5 min. walk CTA Bus - #66 Chicago: 1,000 +/- feet ~ 5 min. walk Divvy Bike Station (Walton & Wells): 540 +/- feet ~ 2 min. walk
This information provided herein has been obtained from sources believed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Any projections, opinions, assumptions or estimates used are for example only and may not represent actual performance. Interested parties should conduct a careful, independent investigation of the property. TRANSITIONING NEIGHBORHOOD
Old Town Park 1,289 New Apartments
Niche 905 202 New Apts.
Walter Payton s College Prep
Moody s Bible Institute
Moody NEXT Moody Bible Institute Bible 310 New Apts. Institute
Moody Moody Bible Institute Bible 315 W Walton St Institute s Moody Bible s Institute
The Moody Bible Institute has listed for sale 10-acres of land with upwards of 3.6 million square feet of development potential BUILDING PHOTOS 2nd FLOOR PLAN & PHOTOS
2nd Floor 1st FLOOR PLAN & PHOTOS
1st Floor BASEMENT PLAN & PHOTOS
English Basement 14’6” 10’0”
7’3” ROOF PLAN & PHOTOS
Roof PROPERTY SURVEY ZONING & ASSESSOR’S MAPS
315 W Walton St
315 W Walton St AREA DEMOGRAPHICS CONFIDENTIALITY CONTACTS: & DISCLAIMER
Neither MB Real Estate Services Inc (“Broker)” nor Owner of the property makes any representation or warranty as to the David P. Kimball completeness or accuracy of the material contained in this Offering Vice President Memorandum. P: 312.558.3858 [email protected] The information contained within this Offering Memorandum is proprietary and strictly confidential and by accepting the contents herein, you agree (i) that you will hold and treat the Offering Jay G. Beadle Memorandum and its contents in the strictest confidence, (ii) that you Senior Vice President will not disclose any information contained within this Offering P: 312.558.3862 Memorandum to any other entity without the prior written consent of [email protected] the Owner or Broker, (iii) that you will not use the Offering Memorandum in any manner detrimental to the interest of the Owner or Broker, and (iv) that you will immediately return any information contained herein to Broker upon request.
This Offering Memorandum has been prepared to provide a summary of information to prospective purchasers and to establish only a preliminary interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Broker has not made any investigation, and makes no warranty or representation with respect to the existing or potential income or expenses for the Chicago Office subject properties, the presence or absence of contaminating 181 West Madison Street substances or existing environmental conditions, the compliance Suite 4700 with State and Federal regulations, the physical conditions of the Chicago, Illinois properties or the size and square footage of the properties or any P: 312.726.1700 improvements. F: 312.807.3883 www.mbres.com
The Owner and Broker reserve the right, at their sole discretion, to New York Office reject any or all expressions of interest to purchase the property 335 Madison Avenue and expressly reserves the right at their sole discretion to 14th Floor terminate discussion with any entity at any time with or without New York, New York notice. The Owner shall have no legal commitment or obligations P: 212.350.2300 to any entity reviewing this memorandum or prospective F: 212.350.2301 www.mbres.com purchaser that makes an offer on the subject property unless and until that such offer for the property is approved by the Owner pursuant to its approval process and the signature of an authorized representative of the Owner is affixed to a real estate purchase agreement prepared by the Owner. David P. Kimball Jay G. Beadle Vice President Senior Vice President P: 312.558.3858 P: 312.558.3862 [email protected] [email protected]
181 W Madison St Suite 4700 Chicago, Illinois 60602 www.mbre.com