Office and Retail 2229 S Michigan Ave
32,500 SF 82% Leased Retail Building Chicago, IL 60616 For Sale
![2229 S Michigan Ave, Chicago, IL for sale - Building Photo - Image 1 of 20](https://images1.loopnet.com/i2/WI7xEZlrxz-GCBMlT-HTxkM5Omkaz9BXyniCkEloTLw/110/2229-S-Michigan-Ave-Chicago-IL-Building-Photo-1-Large.jpg)
![2229 S Michigan Ave, Chicago, IL for sale - Building Photo - Image 2 of 20](https://images1.loopnet.com/i2/Ct02VGQT3E2OXt5hx4Q_kb4RIDzclQ6DO7YqxYYwnkw/110/2229-S-Michigan-Ave-Chicago-IL-Building-Photo-2-Large.jpg)
![2229 S Michigan Ave, Chicago, IL for sale - Interior Photo - Image 3 of 20](https://images1.loopnet.com/i2/SfM-ISa2ZO2SDAKyLfQJMn3Mu5fDk7-iG85mlh6eBbM/110/2229-S-Michigan-Ave-Chicago-IL-Interior-Photo-3-Large.jpg)
![](https://images1.loopnet.com/i2/jhCUmPnXMk_q4t6k5E0y56-alejApyIzQ5lZ68f5t4Y/110/2229-S-Michigan-Ave-Chicago-IL-Interior-Photo-4-Large.jpg)
![](https://images1.loopnet.com/i2/BK6NT2tVfqmhJEgDxU6OVfP7JztfhQc4pNL5dtNJlhM/110/2229-S-Michigan-Ave-Chicago-IL-Building-Photo-5-Large.png)
![](https://images1.loopnet.com/i2/zLAWryS0LuP5aNVQ13E9IETY-ApGrLze0_bCwb98-wU/110/2229-S-Michigan-Ave-Chicago-IL-Building-Photo-6-Large.png)
![](https://images1.loopnet.com/i2/jNXNZdvq4j5z0D0jlwNsryXK1YNw79_xYieRPCTghrE/110/2229-S-Michigan-Ave-Chicago-IL-Interior-Photo-14-Large.jpg)
![](https://images1.loopnet.com/i2/Ns_Et79q2FZRKfQcAFXGAkr38Fy8YKPJMdiCLiAwV-E/110/2229-S-Michigan-Ave-Chicago-IL-Interior-Photo-15-Large.jpg)
INVESTMENT HIGHLIGHTS
- In Qualified Opportunity Zone
- High Traffic Area Near McCormick Place & Wintrust Arena
- Great Frontage on S Michigan Ave
EXECUTIVE SUMMARY
The building features solid construction, an appealing and historic facade, and very high ceilings. It is less than one block from the 800-room Hyatt Hotel.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (PRO FORMA - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
---|---|---|
Gross Rental Income |
$99,999
![]() |
$9.99
![]() |
Other Income |
$99,999
![]() |
$9.99
![]() |
Vacancy Loss |
$99,999
![]() |
$9.99
![]() |
Effective Gross Income |
$99,999
![]() |
$9.99
![]() |
Taxes |
$99,999
![]() |
$9.99
![]() |
Operating Expenses |
$99,999
![]() |
$9.99
![]() |
Total Expenses |
$99,999
![]() |
$9.99
![]() |
Net Operating Income |
$99,999
![]() |
$9.99
![]() |
PROPERTY FACTS
ABOUT 2229 S MICHIGAN AVE , CHICAGO, IL 60616
Formerly a Ford Motor Company showroom, this building is a charming, decorative building that lends itself to many different users. Zoning can be accommodated public, institutional, retail and residential uses. With close proximity to McCormick Place, Millenium Park, CTA Red and Green Line, I-55 Expressway and Downtown Chicago. The building features solid construction, an appealing and historic facade, and very high ceilings. It is less than one block from both the Hyatt and Marriott Hotels and the new Wintrust Arena.
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Open space with high ceilings. Matterport tour: https://my.matterport.com/show/?m=MBeGvou8XLz
1 office, open area, kitchen.
Space | Size | Space Use | Position | Available |
1 | 2,512 SF | Office | - | Now |
306 | 3,211 SF | Office | - | Now |
1
Size |
2,512 SF |
Space Use |
Office |
Position |
- |
Available |
Now |
306
Size |
3,211 SF |
Space Use |
Office |
Position |
- |
Available |
Now |
NEARBY MAJOR RETAILERS
![Starbucks Starbucks](https://images1.loopnet.com/i2/V11gp9X1QvF-sYuRU43vwjphTt976BD4p9n50Z1aR1w/105/image.png)
![Orangetheory Fitness Orangetheory Fitness](https://images1.loopnet.com/i2/naJx9KdE3g4Fn2fsYhHa6YTpce1mCJ4Jvp2VfZKSXAE/105/image.png)
![Garrett Popcorn Shops Garrett Popcorn Shops](https://images1.loopnet.com/i2/DqgZhVD03kbnkIdT-7NS7py-I-RoGIAaQ6-MkcfmOBY/105/image.jpg)
![United Rentals United Rentals](https://images1.loopnet.com/i2/v1CKECltv5GdQWND-NUTgEi66QF2rr8wOeOAloKneBc/105/image.png)
![Anytime Fitness Anytime Fitness](https://images1.loopnet.com/i2/t3RNkWYXc5vmPmd1J90Q5tui2LR1yrLWIdo-4j_02AE/105/image.jpg)
![Citi Citi](https://images1.loopnet.com/i2/C2DHQju6zqmtqnPtrc7o1H13WlCwl7y5YnjTzzVMhvc/105/image.png)
![Chase Bank Chase Bank](https://images1.loopnet.com/i2/bw7biemERZsLn6pwfbqBPxA99wBdOhsB0H3fRLW4AE8/105/image.png)
![Jazzercise Jazzercise](https://images1.loopnet.com/i2/QZ9-kXG43a-3pLo2xd_qlhmsymlSyzOc9dzVdFwvjn4/105/image.png)
![Ahern Rentals Ahern Rentals](https://images1.loopnet.com/i2/KA3nR7ETePrWENL7rEMS8iDtqO62nHB7Yf28ksJ6umw/105/image.png)
![PNC Bank PNC Bank](https://images1.loopnet.com/i2/fIhd6---TuxhiSC2zosoHH9m2w06pL87K0W47y_6BA0/105/image.png)
PROPERTY TAXES
Parcel Number | 17-27-102-004-0000 | Total Assessment | $1,044,000 (2024) |
Land Assessment | $74,925 (2024) | Annual Taxes | ($1) ($0.00/SF) |
Improvements Assessment | $969,075 (2024) | Tax Year | 2023 |