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2241-45 Michigan Ave Chicago, IL 60616

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19,257 SF Multi-Tenant Office, High NOI

Property size:
19,257 SF

Property Features for 2241-45 Michigan Ave

General Information

Property type
Office properties & Spaces
Square Feet
19,257 SF

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Listing Contact
Milan Rubenstein
Milan Rubenstein

Listing Agency: Windy City RE LLC Listing Agent: Milan Rubenstein

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

This exceptional three-story, 19,257 square foot executive office building at 2241-45 South Michigan Avenue in Chicago, IL 60616, presents a compelling investment opportunity. Formerly a Buick showroom on Motor Row, the building boasts excellent natural light from three exposures, high ceilings, and attractive brick interiors, complemented by brand new storefront windows and recently completed build-outs on the second and third floors. The property's prime South Loop location offers unparalleled access to major attractions, including McCormick Place, Wintrust Arena, and the Marriott Marquis Hotel. Its proximity to the Cermak Green Line "L" station ensures convenient public transportation, while adjacent parking is available for purchase as an add-on. The building benefits from its position within a rapidly growing and revitalized community, fueled by significant recent developments including numerous high-rise apartment buildings, hotel expansions, and office buildings, creating a vibrant and dynamic neighborhood. This thriving area also features a wealth of cultural attractions, including the Museum Campus (Field Museum, Adler Planetarium, Shedd Aquarium), Grant Park, Northerly Island, and Soldier Field. The property's location in an Opportunity Zone provides significant tax advantages for investors. Furthermore, its proximity to the interstate system (I-90/94, I-55, and Lake Shore Drive) and the 10,000-seat Wintrust Arena, along with the new 1,200-room Marriott hotel, ensures high visibility and strong potential for future growth. The building generates a Net Operating Income (NOI) of $381,420.
Property Profile Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

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

Location Insight

  • Map
  • Local Demand
City
Chicago
County
Cook
State
Illinois
Longitude
-87.623308
Latitude
41.851753

FAQs

What type of property is this?
Office property - 19,257 SF Multi-Tenant Office, High NOI
Where is this office property located?
The property is located at 2241-45 Michigan Ave Chicago, IL.
What are key features of this property?
This property features: Prime location near McCormick Place Convention Center, attracting nearly 3 million visitors annually.; Situated in a designated Opportunity Zone, offering significant tax advantages to investors.; Thriving neighborhood with strong demand driven by professionals and students, supporting local businesses.
(747) 271-1834 Call to check price and availability
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