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    216-256 S Michigan Ave Chicago, IL 60604

    For Lease
    Contact for pricing

    Prime retail space in historic Railway Exchange Building.

    Property size:
    4,559 SF
    Lot size:
    0.68 Acres

    Property Features for 216-256 S Michigan Ave

    General Information

    Size
    4,559 SF
    Lot size
    0.68 Acres

    Source: Stone Real Estate Corp. Agent David Stone

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

    Overview

    Railway Exchange Retail Opportunity

    The Railway Exchange Building, designed by Daniel Burnham and completed in 1904, offers a retail opportunity. This architectural treasure, totaling 379,100 square feet, is situated on Michigan Avenue, providing close proximity to both Millennium and Grant Parks, as well as the East Loop submarket. The available retail space measures 4,559 square feet. Existing establishments in the building and immediate area include The Exchange Restaurant, The Arch Restaurant, Mindworks, The Gage, Acanto, The Forum, CVS, Starbucks, Tesori, Miller's Pub, Chase, Chipotle, Barnes & Noble, Kilwins, Just Salad, Hot Wok Cool Sushi, and Brightwok.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Spa & Massage Restaurant Hair Salon Dental Office Nail Salon Building Supply Daycare Center Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6255059
    Latitude
    41.8787325

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    FAQs

    What type of property is this?
    Retail space - Prime retail space in historic Railway Exchange Building.
    Where is this retail space located?
    The property is located at 216-256 S Michigan Ave Chicago, IL.
    What are key features of this property?
    This property features: - Designed by renowned architect Daniel Burnham.; - Architectural and design treasure completed in 1904.; - Located on Michigan Avenue.
    (312) 372-6200
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    Chicago, IL 60604
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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
    216-256 S Michigan Ave Chicago, IL 60604
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