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    1331 S Michigan Ave Chicago, IL 60611

    For Lease
    $30 SF/Yr ($9,750 /Mo)

    Remodeled space near public transit and new luxury apartments.

    Property size:
    3,900 SF
    Lot size:
    0.09 Acres

    Property Features for 1331 S Michigan Ave

    General Information

    Size
    3,900 SF
    Lot size
    0.09 Acres

    Source: NAI Hiffman | Oakbrook Terrace Agent Alex Sutterer

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

    Overview

    South Loop Ideal Space

    This property, located south of Roosevelt Road and Grant Park, offers column-free space with exposed brick walls. Remodeled in 2016, the building features new stairwells, an elevator, and life safety upgrades. It is situated on Michigan Avenue, which sees 16,800 vehicles per day, and is near the State & Roosevelt "L" station, providing access to the green, red, and orange lines. The location is strategically positioned between the proposed One Central and the 78 transformative developments in the dynamic South Loop. Within a two-block radius, 1,700 new luxury apartments have been developed in the past 24 months. Nearby neighbors include Rush Medical, The Paragon, NEMA, and the Chicago Firehouse Restaurant. The average household income within one mile is $82,250. The property is suitable for medical, fitness, or professional use. The property contains 3,900 square feet.
    Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6236952
    Latitude
    41.8648724

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    FAQs

    What type of property is this?
    Office space - Remodeled space near public transit and new luxury apartments.
    Where is this office space located?
    The property is located at 1331 S Michigan Ave Chicago, IL.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: - Strategic location in the dynamic South Loop, between proposed One Central and The 78 developments.; - High foot traffic area near Grant Park and Roosevelt Road.; - Close proximity to public transportation (State & Roosevelt 'L' station - green, red, and orange lines).
    (630) 932-1234
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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
    1331 S Michigan Ave Chicago, IL 60611
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