South Loop Former
For Sale
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2241-45 South Michigan Ave, Chicago, IL 60616
Three-story building in rapidly growing South Loop community.
Property Size19,257 SF
Days on Market2346
Property Features for 2241-45 South Michigan Ave
General Information
Standard status
Active
Size
19,257 SF
Property subtype
Office
Net Operating Income
$381,420
Building Details
Tenancy
Multi
Listing Agency:
Windy City RE LLC
(747) 271-1834
Listed By:
Milan Rubenstein · License #IL 01324137
Source:
Crexi
Added: Mar 19, 2020
Changed: Aug 14
Last Checked: Aug 20 at 6:39PM
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 Windy City RE LLC
Investment Insights
Based on property information with market context.
The property at 2245 S Michigan, formerly a Buick Showroom on Motor Row, is a three-story walk-up building. It features exposures on three sides providing excellent natural light, high ceilings, and brick interiors. The building has new buildouts on the 2nd and 3rd floors, and new storefront windows. Parking is available in the adjacent lot. Located in the South Loop, the property is near McCormick Place, Wintrust Arena, and Marriott Marquis Hotel, and is two blocks from the Cermak Green Line L Station. The South Loop is experiencing rapid growth, becoming a popular market for new construction due to its proximity to the central business district, parks, cultural attractions, and schools. Recent developments include eight high-rise apartment buildings, two hotel expansions, office buildings, and DePaul’s Wintrust Arena. The South Loop is known for its mix of attractions and history, including the Museum Campus with the Field Museum, Adler Planetarium, and Shedd Aquarium, as well as lakefront parklands that are an extension of Grant Park. Northerly Island is nearby, and Soldier Field, the stadium for the Chicago Bears, is located along the southern edge. McCormick Place, the largest convention center in the country, is also in the area. The property size is 19257 square feet.
Key Highlights
- Brand new buildouts on the 2nd and 3rd floors.
- Excellent natural light with exposures on three sides.
- Located in the rapidly growing South Loop community.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,404
Businesses Nearby
Explore this area
Business Placement
Demographics for 60616, IL
54,013
Population
26,912
Households
2
Avg Household Size
38
Median Age
53%
College-Educated
86%
High-School Grad
3.8 sq mi
ZIP Area
14,214
Density / Sq Mi
$77,841
Median Household Income
$53,415
Median Earnings
$1,329
Median Rent
$387,300
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Three-story building in rapidly growing South Loop community.
Where is this office building located?
The property is located at 2241-45 South Michigan Ave Chicago, IL.
What are key features of this property?
This property features: Brand new buildouts on the 2nd and 3rd floors.; Excellent natural light with exposures on three sides.; Located in the rapidly growing South Loop community.
