2241-45 Michigan Ave Chicago, IL 60616

Property Details for 2241-45 Michigan Ave

Property size

19,257 SF

Property type

Office Properties & Spaces

Description

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.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.6233

Latitude

41.8518