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    500 N Michigan Ave Chicago, IL 60605

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    For Lease
    Contact for pricing

    Retail space available for lease near Chicago's Magnificent Mile.

    Property size:
    6,144 SF
    Lot size:
    0.38 Acres

    Property Features for 500 N Michigan Ave

    General Information

    Size
    6,144 SF
    Lot size
    0.38 Acres

    Source: JLL - Corporate Agent Peter Caruso

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

    Overview

    Retail Space Near Magnificent Mile

    This retail space, comprising 6,144 square feet, is now available for lease. Located near Chicago's Magnificent Mile, an area that attracts over 32 million visitors annually, this property presents a 2nd floor retail opportunity. Contact our brokers for further information and to discuss available square footage.
    Insight Report Location Intelligence

    Current Use by Public Records

    Demo Chicago Demolition ... Demolition Contractor Clean Oil Technology Oil Change Service RentBacker, Inc. Apartment Rental Agency Chick-fil-A Fast Food Restaurant CloudMasonry - Salesforce Consulting ... Business Management Consultant

    Suggested Use

    Realty agency Spa & Massage Restaurant Dental Office Hair Salon Nail Salon Building Supply Daycare Center Auto Repair Shop 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
    -87.6248396
    Latitude
    41.875389

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    FAQs

    What type of property is this?
    Retail space - Retail space available for lease near Chicago's Magnificent Mile.
    Where is this retail space located?
    The property is located at 500 N Michigan Ave Chicago, IL.
    What are key features of this property?
    This property features: - Located near the Magnificent Mile; - 2nd floor retail opportunity; - Available for lease
    (312) 782-5800
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    Chicago, IL 60605
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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
    500 N Michigan Ave Chicago, IL 60605
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