2 Michigan Ave Chicago, IL 60602

Property Details for 2 Michigan Ave

Lot size

0.17 lot acres

Property size

5,076 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 5,076 square foot Raising Cane's flagship storefront located at 2 N Michigan Avenue in Chicago, Illinois, 60602. Situated on a 0.17-acre lot, this single-tenant, net-leased (NNN) property boasts a prominent location directly across from Millennium Park, offering unparalleled visibility and foot traffic. The property is part of a luxury residential building, ensuring a stable and desirable location. With a strong tenant in Raising Cane's, this asset provides a secure, long-term investment with a compelling 5.85% cap rate and a substantial net operating income (NOI) of $646,931. The asking price is $11,050,000, translating to a price per square foot of $2,176.91. This is one of only four flagship Raising Cane's locations nationwide, representing a rare opportunity to acquire a high-performing asset in a prime Chicago location. The property's vertical separation within the building adds to its unique appeal. This is an ideal investment for those seeking a stable, high-return retail property in a coveted Chicago location. The property's strong tenant, prime location, and attractive financial metrics make it a compelling investment opportunity.