Michigan Avenue Retail
For Lease
Contact for pricing
540 Michigan Avenue, Chicago, IL 60611
Prime retail space on Michigan Avenue with high visibility.
Property Size41,186 SF
Days on Market250
Property Features for 540 Michigan Avenue
General Information
Standard status
Active
Size
41,186 SF
Property subtype
Retail
Listing Agency:
CBRE | Chicago
(312) 935-1905
Listed By:
Luke Molloy
(312) 935-1905
Source:
Cbre
Added: Nov 22, 2025
Changed: Jul 6
Last Checked: Jul 30 at 3:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE | Chicago
Investment Insights
Based on property information with market context.
This retail property on Michigan Avenue in Chicago offers a flagship opportunity with high pedestrian and vehicle traffic, with over 5 million monthly views. The space offers flexible demising options, with available spaces ranging from approximately 6,000 to 41,000 square feet. The property provides a unique branding opportunity.
Key Highlights
- Flagship opportunity in Chicago
- +5 million pedestrians and vehicles pass by monthly
- Flexible demising options from 6k to 41k sq ft
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
Location Intelligence
Trade Area within ½ mile
30,068
Businesses Nearby
613k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Apparel 22%
Hotels & Casinos 19%
Shops & Services 6%
Nordstrom
Apparel
136,729 visits/mo
0.2 miles
Starbucks
Dining
132,317 visits/mo
0.1 miles
McDonald's
Dining
65,567 visits/mo
0.4 miles
McDonald's
Dining
52,443 visits/mo
0.4 miles
Fogo de Chao
Dining
28,749 visits/mo
0.5 miles
Demographics for 60611, IL
38,456
Population
28,239
Households
1.4
Avg Household Size
39
Median Age
88%
College-Educated
99%
High-School Grad
0.8 sq mi
ZIP Area
48,070
Density / Sq Mi
$124,621
Median Household Income
$92,917
Median Earnings
$2,416
Median Rent
$608,200
Median Home Value
Market
Lease Benchmarks for Chicago, IL
$25.71 /SF/Yr
Avg Asking Price
$0.92–$80 /SF/Yr
Price Range
4,887 SF
Avg Space Size
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Prime retail space on Michigan Avenue with high visibility.
Where is this retail space located?
The property is located at 540 Michigan Avenue Chicago, IL.
What are key features of this property?
This property features: Flagship opportunity in Chicago; +5 million pedestrians and vehicles pass by monthly; Flexible demising options from 6k to 41k sq ft
