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About This Home
This 1-bedroom, 1-bathroom condo at 545 N Dearborn Street in Chicago, IL is listed for $290,000 ($398 per sqft). Built in 2003, the home offers 729 sqft of living space on a N/A lot.
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.
Key Features
- Built in 2003
- 1 parking spaces
Property Details
Amenities
Monthly Cost Estimate
$2,294/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
545 N Dearborn Street
Chicago, IL 60654
Features & Amenities
Exterior Features
Property Details
Flooring
Construction
Pool Features
Parking
Heating
Cooling
Appliances
Questions & Answers
This 1-bedroom, 1-bathroom condo at 545 N Dearborn Street is listed at $290,000 ($398/sqft). The estimated monthly payment is $2,000 based on 20% down at 6.5% interest.
HOA fees are $743/month.
Key features include: Built in 2003, 1 parking spaces. Exterior Features: Balcony, Dog Run.
This property is listed by Justin Penn and can be reached at (312) 216-2422 or justinpenn12@gmail.com.
