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    2345 S Michigan Ave Chicago, IL 60611

    For Sale
    $950,000

    35,000 SF historic loft building in Chicago's Motor Row.

    Property size:
    35,000 SF
    Lot size:
    0.19 Acres

    Property Features for 2345 S Michigan Ave

    General Information

    Size
    35,000 SF
    Lot size
    0.19 Acres

    Source: Millennium Properties Real Estate Agent Daniel J. Hyman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Loft Building in Motor Row

    This is a 35,000 square foot, 4-story historic landmark loft building with a basement. The building is located in Chicago’s Motor Row Historic District on Michigan Avenue. The site area is 8,435 square feet. The building's zoning is DS-5. All floors feature lofted floor plans, sun-filled spaces, and brick and heavy timber appointments. The property has excellent access to public transportation and I-90/I-94/I-290/I-55. It is eligible for multiple federal, state and city incentive programs and is part of TIF - 24th/Michigan Tax Increment Financing (TIF) District and a Chicago PACE participant.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Nuovo Image Advertising Agency

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.623294
    Latitude
    41.849868

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    FAQs

    What type of property is this?
    Office building - 35,000 SF historic loft building in Chicago's Motor Row.
    Where is this office building located?
    The property is located at 2345 S Michigan Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: - 35,000 SF historic landmark loft building in Chicago’s Motor Row Historic District.; - Lofted floor plans with sun-filled spaces, brick, and heavy timber appointments.; - Located on Michigan Avenue with excellent access to public transportation and major interstates (I-90/I-94/I-290/I-55).
    (312) 338-3000
    Request Owner's contact information
    2345 S Michigan Ave Chicago, IL 60611
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    Chicago, IL 60611
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2345 S Michigan Ave Chicago, IL 60611
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