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1454 Michigan Ave Chicago, IL 60605

OFF-MARKET Retail properties & Spaces Google Maps
4,834 SF Built 1901
Estimated value
No estimation on file for this property yet.
Property ID US28-2600778

Property summary

AI-generated overview

This exceptional 4,834 square foot, two-story commercial property located at 1454 S Michigan Ave in Chicago's vibrant South Loop neighborhood presents a unique investment opportunity. Built in 1901, this building offers a captivating blend of historical charm and modern functionality. The street-level storefront boasts 2,217 square feet, featuring floor-to-ceiling gliding windows, a 22-foot wet bar, 12-foot ceilings, concrete floors, exposed brick and ductwork, shiplap and aluminum walls creating an industrial aesthetic. This level is currently configured with three rooms, storage, a tech closet, and three restrooms. The second floor encompasses 2,617 square feet, equally impressive with floor-to-ceiling windows, exposed brick and ductwork, timber beams, a skylight, hardwood flooring, and a private restroom with a kitchenette. Three additional rooms provide ample storage. A chair lift is installed for accessibility. The second floor offers direct access from Michigan Avenue, and there is also a rear entrance with an accessible elevator in the lobby. The property includes rooftop rights, and assigned garage parking is negotiable. This location benefits from high visibility, with 19,327 vehicles passing daily and 93% pedestrian traffic. The Cook County property has a tax cost of $0.80 per square foot. The entire building is currently vacant. This is a rare opportunity to acquire a fully adaptable space in a high-traffic, desirable location.

Property profile

Verified
Property type Retail properties & Spaces
Year built 1901
Total area 4,834 SF
UPID US28-2600778

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store Clothing & Fashion Store
  • Hotel & Motel Resort
  • Hotel & Motel Resort
  • Event Venue Indoor Playground
  • Medical Laboratory

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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