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Erik Stegemann

erik@cloudninerealtygroup.com +1(312) 533-9454

$ 290,000

Est. payment -/mo

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545 N Dearborn ST #W3005 Chicago, IL 60654

1 Bed

1 Bath

729 SqFt

UPDATED:

Key Details

Property Type Condo

Sub Type Condo

Listing Status Active

Purchase Type For Sale

Square Footage 729 sqft

Price per Sqft $397

MLS Listing ID 12668368

Bedrooms 1

Full Baths 1

HOA Fees $743/mo

Rental Info Yes

Year Built 2003

Annual Tax Amount $5,050

Tax Year 2024

Lot Dimensions COMMON

Property Sub-Type Condo

Property Description

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.

Location

State IL

County Cook

Area Chi - Near North Side

Rooms

Basement None

Interior

Heating Forced Air

Cooling Central Air

Fireplace N

Appliance Range, Microwave, Dishwasher, High End Refrigerator, Bar Fridge, Freezer, Washer, Dryer

Laundry Washer Hookup

Exterior

Exterior Feature Balcony, Dog Run

Garage Spaces 1.0

Amenities Available Door Person, Elevator in Residence, Exercise Room, Health Club, On Site Manager/Engineer, Party Room, Sundeck, Pool, Receiving Room, Sauna, Service Elevator(s), Steam Room, Valet/Cleaner, Business Center

Building

Dwelling Type Attached Single

Building Description Brick,Concrete, No

Story 45

Sewer Public Sewer

Water Lake Michigan

Structure Type Brick,Concrete

New Construction false

Schools

School District 299 , 299, 299

Others

HOA Fee Include Heat,Air Conditioning,Water,Gas,Insurance,Doorman,Exercise Facilities,Pool,Exterior Maintenance,Scavenger,Snow Removal

Ownership Condo

Special Listing Condition None

Pets Allowed Cats OK, Dogs OK, Number Limit, Size Limit

Listed by Justin Penn of Keller Williams ONEChicago

Erik Stegemann

Owner/Designated Manageing Broker | License ID: 471.019151

+1(312) 533-9454

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Erik Stegemann

545 N Dearborn ST #W3005 Chicago, IL 60654

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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545 N Dearborn ST #W3005