REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,550,000
Est. payment | /mo
3,809 SqFt
$ 1,550,000
Est. payment | /mo
3,809 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 3,809 sqft
Price per Sqft $406
MLS Listing ID 12464895
Year Built 1938
Annual Tax Amount $36,894
Tax Year 2023
Lot Dimensions 21 x 110
Property Sub-Type Mixed Use
Property Description
In the heart of Chicago's vibrant River North, 740 N Wells presents a once-in-a-generation mixed-use opportunity-an address destined to be someone's future found. This three-story masonry jewel offers 3,465 square feet of gross building area on a 2,321-square-foot DX-5 zoned lot, boasting over 21 feet of Wells Street frontage, dramatic floor-to-ceiling windows, and soaring 11-foot ceilings. On-site parking-practically unheard of in this location-accommodates three vehicles, with the possibility for a fourth. The ground-floor commercial space (1,155 sq ft), most recently home to the renowned Carl Hammer Gallery, offers an open, light-filled display area, rear storage, and a full washroom. Direct access to a full unfinished basement adds valuable storage or build-out flexibility, ideal for retail, gallery, restaurant, or showroom use. Separate street access leads to two upper-level loft residences, each bathed in natural light through expansive windows and enriched by vintage wood floors and impressive ceiling heights. Unit Two showcases a dramatic built-in bookcase, while Unit Three boasts a wood-burning fireplace and a mezzanine bedroom for added character and function. Both feature full kitchens and baths, making them prime for premium rental income or inspired owner-occupancy. Positioned steps from the highly anticipated The Lake private members' club-and surrounded by new luxury residences, premier dining, and Chicago's largest art gallery district-this property enjoys unmatched foot traffic, vehicular exposure, and neighborhood prestige. The property was previously divided into three separate condominium/property ID numbers, creating a rare opportunity to buy the entire building with all three units. With River North residential rents commanding top-tier rates, 740 N Wells offers substantial income potential alongside exceptional end-user appeal. For the discerning investor, operator, or visionary, this is more than an address-it's a rare prize in a world-class location, with the flexibility, visibility, and inherent value to define your next chapter.
Location
State IL
County Cook
Area Chi - Near North Side
Zoning OTHER
Interior
Cooling Central Air, Central Individual
Flooring Carpet, Terrazzo, Tile, Wood
Fireplaces Number 1
Fireplace Y
Building
Dwelling Type Mixed Use
Structure Type Brick
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Carrie McCormick • @properties Christie's International Real Estate
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "