Mixed-Use Building with
For Lease
Contact for pricing
1509 S Michigan Ave, Chicago, IL 60605
Zoned DX-7, the property combines ground-floor commercial space with upper-level loft units.
Space Size4,500 SF
Days on Market351
Property Features for 1509 S Michigan Ave
General Information
Standard status
Active
Size
4,500 SF
Property subtype
OFFICE
Lease Type
Modified Gross
Spaces For Lease
at 1509 S Michigan Ave Contact us- Size
- 4,500 SF
- Type
- OFFICE
- Lease Type
- MODIFIED_GROSS
- Availability
- AVAILABLE, Now
- Sublease
- No
1509 S Michigan Ave $22/SF/Yr
- Don’t miss this rare opportunity to acquire a 25,000 SF mixed-use building along...
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Listing Agency:
CRE Advising
(312) 448-6401
Listed By:
Steve Horvath · License #475128970
(630) 430-4300
Source:
Moodyscre
Added: Sep 17, 2025
Changed: Aug 31
Last Checked: Sep 1 at 11:56PM
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 CRE Advising
Investment Insights
Based on property information with market context.
This mixed-use property includes a 25,000 SF building and an adjacent 4,347 SF parking lot at 1509 S Michigan Ave. The building contains six units: two occupied commercial spaces on the ground floor and four loft-style units on the upper levels. An elevator serves the building, which also benefits from natural light.
Office and retail space is available on the second and third floors for lease. The property is located in Chicago’s South Loop neighborhood and carries DX-7 zoning, supporting a range of existing commercial configurations and future redevelopment considerations.
Office and retail space is available on the second and third floors for lease. The property is located in Chicago’s South Loop neighborhood and carries DX-7 zoning, supporting a range of existing commercial configurations and future redevelopment considerations.
Key Highlights
- 25,000 SF mixed‑use building with an adjacent 4,347 SF parking lot
- Six total units, including two occupied ground‑floor commercial spaces
- Four loft‑style upper‑level units suitable for residential or commercial use
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
$3.30 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
4,044
Businesses Nearby
Explore this area
Business Placement
Demographics for 60605, IL
34,071
Population
20,478
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
24,336
Density / Sq Mi
$118,403
Median Household Income
$82,091
Median Earnings
$2,402
Median Rent
$495,900
Median Home Value
Market
Lease Benchmarks for Chicago, IL
$26.64 /SF/Yr
Avg Asking Price
$10–$52 /SF/Yr
Price Range
88,800 SF
Avg Space Size
This space is priced 17% below the average of $26.64 /SF/Yr.
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Zoned DX-7, the property combines ground-floor commercial space with upper-level loft units.
Where is this mixed-use property located?
The property is located at 1509 S Michigan Ave Chicago, IL.
What is the lease rate?
The lease rate is $22 SF/Yr.
What are key features of this property?
This property features: 25,000 SF mixed‑use building with an adjacent 4,347 SF parking lot; Six total units, including two occupied ground‑floor commercial spaces; Four loft‑style upper‑level units suitable for residential or commercial use
