Reverse electrodialysis (RED) is a technology to generate electricity from two streams with different salinities. While RED systems have been conventionally used for electricity generation, recent works explored combining RED for production of valuable gases. This work investigates the feasibility of producing hydrogen and chlorine in addition to electricity in an RED stack and identifies potential levers for improvement. A simplified one-dimensional model is adopted to assess the technical and economic feasibility of the process. We notice a strong disparity in typical current densities of RED fed with seawater and river water and that in typical water (or chlor-alkali) electrolysis. This can be partly mitigated by using brine and seawater as RED feeds. Considering such an RED system, we estimate a hydrogen production of 1.37 mol/(m2 h) and an electrical power density of 1.19 W/m2. Although this exceeds previously reported hydrogen production rates in combination with RED, the levelized costs of products are 1-2 orders of magnitude higher than the current market prices at the current state. The levelized costs of products are very sensitive to the membrane price and performance. Hence, going forward, manufacturing thinner and highly selective membranes is required to make the system competitive against the consolidated technologies.