2241 Wabash AveChicago, IL 60616

For Sale
$3,900,000

39,900 SF, Chicago Opportunity Zone

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional three-story, 39,900-square-foot mixed-use building in Chicago's Motor Row neighborhood presents a unique investment opportunity. Located in a Tax Increment Financing (TIF) district and Opportunity Zone, this property offers significant tax incentives and long-term growth potential. Built in 1915, the building boasts striking exterior design and timeless architecture. The spacious layout features soaring timber ceilings (16' on the 2nd and 3rd floors, 17' in the garage), exposed brick, and a full basement. The building includes 19 parking spaces, a freight elevator, and 400-amp electrical service per floor. The main level offers front retail/office space, a rear garage with a drive-in door, warehouse area, and a full locker room. The second floor features enclosed glass offices, conference rooms, private offices, an open floorplan, reception area, IT room, storage, and two restrooms. The third floor provides versatile workspace with an office, skylight conference room, kitchenette, and two restrooms. The property is conveniently located near McCormick Place, with easy access to major transportation routes including the Green Line, bus routes, and Interstates 55, 90, and Route 41. The surrounding area offers a variety of dining, retail, and entertainment options. The property's zoning is DS-3 Commercial, with a lot size of 11,520 square feet and an APN of 17271010210000. The asking price is $3,900,000, with a price per square foot of $106.52. This property is currently vacant and offers a substantial opportunity for redevelopment and repositioning.

Highlights

  • Ample indoor parking: 13-18 spaces available, with options for expansion up to 30 spaces.

Property Details for 2241 Wabash Ave

Property type
Automotive properties, Other office properties
Square Feet
11,520 SF
Class
B
Year Built
1915
Stories
3
Units
3

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.8516494
Longitude
-87.6250414
2241 Wabash Ave, Chicago, Illinois

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2241 Wabash Ave
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