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    142 Ontario St Chicago, IL 60611

    Sponsored
    For Lease
    Contact for pricing

    Magnificent Mile flagship retail space. High foot traffic location.

    Lot size:
    4,921 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 4,921 square foot flagship retail space at 142 E. Ontario Street in Chicago, Illinois, presents a truly unparalleled opportunity. Located in the coveted North Michigan Avenue submarket of Cook County, this single-tenant property boasts unmatched branding potential and exceptional visibility. Its prime corner location at the intersection of Ontario and Michigan Avenue offers over 40 feet of frontage on Ontario Street, providing excellent opportunities for prominent signage and awning placement. The property benefits from extremely high foot traffic, surrounded by some of the world's most prestigious retailers. Its advantageous position next to the Burberry flagship store and the new Hotel Riu Plaza Chicago further enhances its desirability and exposure. This is an ideal location for a brand seeking to establish a strong presence on the Magnificent Mile, capitalizing on the area's dense concentration of high-end shoppers and tourists. The property's size and location make it perfect for a variety of retail uses. The zip code is 60611.

    Property Features for 142 Ontario St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,921 SF

    Unit(s) available at that property

    Space
    Size
    4,921 SF

    HighLights

    • High foot traffic: 30+ million annual visitors on the Magnificent Mile.
    • Strong retail sales: $118+ million in 2023 retail sales on the Magnificent Mile.
    • Dense student population: Over 14,000 students in the immediate area.
    • Proximity to major hospital: Adjacent to Northwestern Hospital.
    • Abundant hotel accommodations: Over 25,000 hotel rooms nearby.
    Property Profile Location Intelligence

    Current Use by Public Records

    Cornelia J. Bugg, ... Audiologist Connecticut Osteopathic Medical ... Association / Organization PGI Video Conferencing Service AOCOOHNS Association / Organization VFS Global France ... Visa And Passport Office

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.623621582497
    Latitude
    41.893319972507

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    FAQs

    What type of property is this?
    Retail property - Magnificent Mile flagship retail space. High foot traffic location.
    Where is this retail property located?
    The property is located at 142 Ontario St Chicago, IL.
    What are key features of this property?
    This property features: High foot traffic: 30+ million annual visitors on the Magnificent Mile.; Strong retail sales: $118+ million in 2023 retail sales on the Magnificent Mile.; Dense student population: Over 14,000 students in the immediate area.
    Request Owner's contact information
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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
    142 Ontario St Chicago, IL 60611
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