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    2300 Michigan Ave Chicago, IL 60616

    Sponsored
    For Lease
    $25 SF/Yr

    Executive Suites, Motor Row Location

    Lot size:
    186,445 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 2,450 sq. ft. executive office space is situated within a seven-story, Class C building at 2300 S Michigan Ave, Chicago, IL 60616. Built in 2013, the property boasts a total of 186,445 sq. ft. and is located in Cook County's vibrant South Loop submarket, specifically within the historic Motor Row district. The space is part of a multi-tenant building and offers a high-profile ground-floor location with expansive windows overlooking Michigan Avenue, providing excellent visibility and brand recognition. High ceilings are a key feature, ideal for a variety of uses including coffee shops, food service establishments, or medical offices. The building offers limited parking (4 spaces total) and allows for exterior signage. This location benefits from the ongoing revitalization of Motor Row, with planned additions of entertainment venues, hotels, restaurants, and bars promising continued growth and increased foot traffic. The property's strategic location within a luxury apartment building ensures a steady flow of potential customers. This is a rare opportunity to secure a prominent space in a rapidly developing area.

    Property Features for 2300 Michigan Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    186,445 SF
    Class
    C
    Total Rate
    388427.08

    Building Details

    Year Built
    2013
    Buildings
    1
    Stories
    7

    Unit(s) available at that property

    Space
    Suite Retail
    Size
    2,450 SF
    Rate per SF
    $25
    Property Profile Location Intelligence

    Current Use by Public Records

    The Shelby Apartment Building Avnit Business Management Consultant Nurturing Drug Rehab ... Alcoholism Treatment Program Genesis Oral Surgery ... Oral And Maxillofacial Surgeon Bank of America ATM Atm

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply 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
    -87.6242297
    Latitude
    41.8507597

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    FAQs

    What type of property is this?
    Restaurant - Executive Suites, Motor Row Location
    Where is this restaurant located?
    The property is located at 2300 Michigan Ave Chicago, IL.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
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    2300 Michigan Ave Chicago, IL 60616
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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
    2300 Michigan Ave Chicago, IL 60616
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