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Value-Add Comes to Market Between Gold Coast, River North

Kiser Group and Zacuto Group have brought 56 E. Chicago Ave. to market. The six-story mixed-use value-add is being marketed unpriced, featuring 25 residential units and three commercial retail spaces. It’s currently vacant.

Located between Gold Coast and River North, 56 E. Chicago is positioned near the Magnificent Mile. “The location of this property makes it a once-in-a-generation opportunity to acquire a building with unique architectural details at the intersection of Gold Coast and River North,” said Jake Zacuto, Zacuto Group.

Added Kiser Group’s Lee Kiser, “This acquisition will be challenging for a developer, as are most projects in the heart of Chicago.” He cited “the potential scale of the development, the historical designations involved, air rights that might enter the equation and probable changes coming to the Affordable Requirements Ordinance” as potential complexities.

Zacuto Group’s Zacuto and Connor Sears are co-listing agents with Kiser Group’s Kiser and Jake Parker.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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