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2221 Michigan Ave Chicago, IL 60616

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For Sale
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33,500 SF Flex Space, Chicago

Property size:
33,500 SF

Property Features for 2221 Michigan Ave

General Information

Property type
Individual retail properties
Square Feet
33,500 SF

Building Details

Year Built
1919
Buildings
1
Stories
3

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Listing Contact
David Kimball
David Kimball

Listing Agency: Transwestern Chicago Listing Agent: David Kimball

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

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Property Insight Report

Overview

This exceptional redevelopment opportunity presents a 33,500-square-foot, three-story loft warehouse situated on a 9,988-square-foot lot (62' x 160') in Chicago's vibrant Motor Row Entertainment District. The property, built in 1919, boasts an 18-foot ceiling height on the first floor and benefits from significant development incentives, including Opportunity Zone designation, TIF financing, Class-L Rehabilitation eligibility, and Federal Historic Tax Credits. The building is zoned DS-5 and features approximately 62 feet of frontage on Michigan Avenue, providing excellent visibility and accessibility. The location offers convenient proximity to public transportation, with approximately 775 feet to the CTA Green Line (Cermak Stop) and approximately 1,967 feet to the CTA Red Line (Chinatown Stop). The property includes 16,440 square feet of air rights, offering potential for expansion. The anticipated occupancy date is October 17, 2024. This is an ideal owner/user investment in a prime location with substantial upside potential. The property's address is 2221 S Michigan Ave, Chicago, IL 60616, APN 17-27-102-003-0000. This unique property combines historic charm with modern development potential.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Windy City Furniture, ... Furniture & Home Goods

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
-87.623758584099
Latitude
41.852236825291

FAQs

What type of property is this?
Individual retail property - 33,500 SF Flex Space, Chicago
Where is this individual retail property located?
The property is located at 2221 Michigan Ave Chicago, IL.
What are key features of this property?
This property features: Opportunity Zone, TIF, Class-L Rehab, & Federal Historic Tax Credits available.; 62 feet of Michigan Avenue frontage.; 18'11" first-floor ceiling height.
(312) 558-3858 Call to check price and availability
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