1455 S Michigan Avenue, Chicago, IL 60605
For sale 22,500 SF office building on a half-acre site with DX-7 zoning and an operating business onsite.
- Added:
- Jun 30, 2026
- Days on Market:
- 5
- Last Refresh:
- Jul 1 at 4:50 am
Property Features for 1455 S Michigan Avenue
General Information
- Standard status
- Active
- Size
- 22,500 SF
- Lot size
- 0.50 Acres
Building Details
- Year Built
- 1910
Listing office Berkshire Hathaway HomeServices Speckman Realty (815) 922-6924
Listing date Jun 30, 2026
Source Lisasanford.idxbroker
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 Berkshire Hathaway HomeServices Speckman Realty
HighLights
- 22,500 SF office building on a 1/2‑acre land site in Chicago’s South Loop corridor
- Year built 1910 office building
- On‑site operating business currently generating over $2,000,000 in revenue
- DX‑7 zoning provides versatility for multiple strategic uses
Overview
The building is presented as an opportunity in Chicago’s South Loop corridor. While the exact building configuration beyond its office use is not detailed here, the property is marketed as a versatile site supported by its current DX-7 zoning designation.
From a tenant or owner-user standpoint, the existing office improvements provide a ready platform for an organization looking to occupy space within an established business environment. For buyers evaluating redevelopment or re-positioning, the public remarks note that the property’s DX-7 zoning provides a foundation for multiple potential strategic plays, including options related to development intensity. Interested parties should review the zoning details and operational circumstances during their due diligence and can request additional information or a tour to evaluate fit and next steps.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $864.0k | $38.40 |
| − Vacancy | −$220.3k | −$9.79 |
| EGI | $643.7k | $28.61 |
| − OpEx | −$160.9k | −$7.15 |
| NOI | $482.8k | $21.46 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.623583
- Latitude
- 41.8625584
