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About the Listing 87738 - 162463
Exceptional investment opportunity in the heart of River North! Perched on the 30th floor, this beautifully renovated junior one-bedroom residence at 545 N. Dearborn offers stunning city views, an efficient and functional floor plan, and a highly desirable downtown location. Completely renovated in 2018, the unit showcases modern finishes and thoughtful updates throughout, making it an attractive and low-maintenance investment. Unlike many junior one-bedroom layouts, the bedroom is fully enclosed, providing enhanced privacy and separation from the living space. The unit is currently leased at $2,600 per month through May 2027, delivering immediate and stable rental income for investors seeking a turnkey asset in one of Chicago's strongest rental markets. A standout feature of this offering is the long-term tenant, who has occupied the unit since 2019, providing proven rental stability and consistent cash flow from day one. Ownership is made even more attractive by reasonable carrying costs, with 2024 property taxes of just $5,050 and monthly assessments of $743.66. The assessments include nearly all utilities (except electric) as well as access to the building's extensive amenities, creating exceptional value for both owners and tenants alike. Residents enjoy a full suite of amenities, including 24-hour door staff, fitness center, sundeck, outdoor pool, party room, receiving room, and on-site management. Located in the center of River North, the building is just steps from renowned restaurants, shopping, entertainment, public transportation, and the Chicago Riverwalk. Whether you're looking to expand your investment portfolio or secure a future downtown residence while generating income in the meantime, this property presents a rare opportunity to own a cash-flowing asset with an established tenant in one of Chicago's most sought-after neighborhoods. Completely renovated, tenant-occupied with a proven rental history, and positioned in a premier location, this is a truly turnkey investment opportunity.
Listing Highlights
Status
Active
Days on Site
42
Property Type
Condo/Townhome
MLS ®
12668368
Year Built
2003
Total Square Footage
729
Lot/Acreage
COMMON
Interior Details
- Bedrooms: 1
- Bathrooms: 1 Full
- Appliances: Range, Microwave, Dishwasher, High End Refrigerator, Bar Fridge, Freezer, Washer, Dryer
- Air Cond: Central Air
- Heating: Forced Air
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Cats OK,Dogs OK,Number Limit,Size Limit
- Water: Lake Michigan
Exterior Details
- Garage Capacity: 1 car
- Parking Spaces: 1
- Lot Dimensions: COMMON
- Roof:
- Others: Balcony,Dog Run
- Sewer: Public Sewer
- Parking Features: Yes,Leased,Attached,Garage
Financial Details
- Tax Amount: $5,050
- Taxes w/Assessments: N/A
- Tax/Property ID: 17092410361233
- Tax Year: 2024
Payment Calculator
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Questions About..
545 N Dearborn Street W3005 Chicago, IL 60654
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