980 Michigan Ave, Chicago, IL 60611
This exceptional retail opportunity is located at 980 N Michigan Ave in Chicago's prestigious Gold Coast neighborhood, on the renowned Magnificent Mile. The property, a Class B building constructed in 1980, offers two available spaces totaling 15,099 square feet within a 400,000 square foot, 58-story building. One space is a restaurant location on the second floor, overlooking North Michigan Avenue, ideal for capitalizing on the high-density affluent population and significant foot traffic of this world-class retail corridor. This space benefits from its proximity to luxury retailers, hotels, and high-end residential buildings, ensuring substantial consumer exposure. The second space is a mezzanine-level unit offering up to 5,553 square feet with over 55 feet of window frontage overlooking Oak Street. This space provides an unparalleled opportunity to showcase a brand within a vibrant retail environment featuring upscale boutiques, renowned brands, and major department stores. The minimum divisible space is 5,553 square feet, with a maximum contiguous space of 9,546 square feet. The building features elevators and is situated on a 0.94-acre lot in Cook County, IL, zip code 60611. This is a multi-tenant building with only two suites. This location offers unparalleled visibility and access to a high-income demographic, making it an exceptional investment opportunity in one of the world's most desirable retail destinations. The building's mixed-use nature, including Class A office and luxury residential components, further enhances the potential for high foot traffic and brand visibility.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.