Premier Michigan Avenue
For Lease
Contact for pricing
224 South Michigan Avenue, Chicago, IL 60604
Landmark building with unique amenities and prime location.
Space SizeContact for details
Days on Market332
Property Features for 224 South Michigan Avenue
General Information
Standard status
Active
Property subtype
Office
Listing Agency:
CBRE | Chicago
Listed By:
Jason Houze
(312) 935-1408
Source:
Cbre
Added: Nov 22, 2025
Changed: Oct 16
Last Checked: Oct 19 at 4:24AM
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 CBRE | Chicago
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Investment Insights
Based on property information with market context.
The Railway Exchange, a premier long-term investment property, offers a range of amenities suitable for both daytime and evening use. These include health and wellness facilities, entertainment options, and views. The building features the new Exchange Restaurant and Listening Bar, providing fast casual and sit-down dining, as well as a bar experience. A fitness center with locker rooms is available. The Burnham Penthouse Terrace and Lounge offers 180-degree views of Lake Michigan and Grant Park. The property is located on Michigan Avenue, near Millennium and Grant Parks, and the lakefront path, with over 200 restaurants in the vicinity. It provides immediate access to the Van Buren CTA stop and is within walking distance of the LaSalle St Metra, Van Buren Metra Electric, and the South Shore Line to Indiana. The property size is 139564 square feet.
Key Highlights
- Prime Michigan Avenue location near Millennium and Grant Parks, and the lakefront.
- Immediate backdoor access to the Van Buren CTA stop and easy access to Metra and South Shore Line.
- Burnham Penthouse Terrace and Lounge with 180‑degree views of Lake Michigan and Grant Park.**
Property Analytics
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Current Use
Lease Details
NNN (Triple Net)
Lease Type
Location Intelligence
Trade Area within ½ mile
26,675
Businesses Nearby
Explore this area
Business Placement
Demographics for 60604, IL
897
Population
510
Households
1.8
Avg Household Size
34
Median Age
96%
College-Educated
98%
High-School Grad
0.1 sq mi
ZIP Area
8,970
Density / Sq Mi
$77,806
Median Household Income
$54,030
Median Earnings
$2,500
Median Rent
$577,700
Median Home Value
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Market
Lease Benchmarks for Chicago, IL
$22.55 /SF/Yr
Avg Asking Price
$11–$46 /SF/Yr
Price Range
51,730 SF
Avg Space Size
Vacancy Rate% for Office in Chicago, IL
Frequently Asked Questions
What type of property is this?
Office building - Landmark building with unique amenities and prime location.
Where is this office building located?
The property is located at 224 South Michigan Avenue Chicago, IL.
What are key features of this property?
This property features: Prime Michigan Avenue location near Millennium and Grant Parks, and the lakefront.; Immediate backdoor access to the Van Buren CTA stop and easy access to Metra and South Shore Line.; Burnham Penthouse Terrace and Lounge with 180‑degree views of Lake Michigan and Grant Park.**
