Office and Retail 2229 S Michigan Ave

32,500 SF 82% Leased Retail Building Chicago, IL 60616 For Sale

INVESTMENT HIGHLIGHTS

  • In Qualified Opportunity Zone
  • High Traffic Area Near McCormick Place & Wintrust Arena
  • Great Frontage on S Michigan Ave

EXECUTIVE SUMMARY

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 the 800-room Hyatt Hotel.

DATA ROOM Click Here to Access

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

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
32,500 SF
Building Class
C
Year Built/Renovated
1918/2018
Percent Leased
82%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
3.24
Lot Size
0.23 AC
Opportunity Zone
Yes
Zoning
DX-5 /Downtown mixed-use - Downtown Mixed-Use District
Frontage
61 FT on S Michigan Ave

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
  • 1
  • 2,512 SF
  • Office
  • -
  • Now

Open space with high ceilings. Matterport tour: https://my.matterport.com/show/?m=MBeGvou8XLz

  • 306
  • 3,211 SF
  • Office
  • -
  • Now

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
Walk Score®
Walker's Paradise (94)
Transit Score®
Excellent Transit (80)
Bike Score®
Very Bikeable (83)

NEARBY MAJOR RETAILERS

Starbucks
Orangetheory Fitness
Garrett Popcorn Shops
United Rentals
Anytime Fitness
Citi
Chase Bank
Jazzercise
Ahern Rentals
PNC Bank

PROPERTY TAXES

  • Listing ID: 16131370

  • Date on Market: 5/22/2019

  • Last Updated:

  • Address: 2229 S Michigan Ave, Chicago, IL 60616