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Financial
Distress signals
Property profile

2215 S Michigan Ave Chicago, IL 60616

FOR SALE
Retail space
Property ID
US28-0032546
54,400 SF 0.18 ac lot Built 1915
Last sale Jul 2017 · $2,600,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 9-yr Hold Held for 9 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

This exceptional 32,000-square-foot industrial/mixed-use property, located in Chicago's prestigious Motor Row Historic District, presents a unique investment opportunity. The four-story building, constructed in 1915, boasts a striking brick and veneer exterior and a heavy timber wood structure. Recent upgrades include masonry tuckpointing, new floor-to-ceiling windows, a new elevator, updated fire pump systems, new electrical service, and an upgraded silver coating roof. The first floor…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2022

What does the county charge?
$171k
Tax billed · 2022
Assessed value$827k
Assessed land$100k
Assessed improvement$727k
Effective rate20.63%

Value estimate

· Oct 2026
$1.17M
$1.05M – $1.28M
NOI build-up
Gross scheduled income$1.23M
Vacancy & credit loss−$313k
Operating expenses−$229k
NOI · 21.13% cap applied$687k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$234/SF
ZIP average, outlier-cleaned · 30 recorded sales of this use type
Observed band · Q1–Q3$65 – $314

Cap rate analysis

How does the asset earn?
21.13%
$687k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

No data for this section
What can be built here?

No zoning code is on file for this parcel. Coverage grows with every catalog release.

JurisdictionCOOK

Location intelligence

Which uses thrive at this corner?
Best fit: Carpet & Flooring Store
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Carpet & Flooring Store10.2
Convenience Store9.1
HVAC Service8.9

Location

2215 S Michigan Ave Chicago, IL 60616
County assessor Recorded deeds · 10 transfers Qualifying comp sales · not on file Zoning catalog · not on file

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 18 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
2248 Michigan, Chicago, IL 60616-5258 $3,250,000 Feb 2026 16,800 SF
2317 Michigan, Chicago, IL 60616-2104 $960,000 Mar 2024 17,900 SF
2014 Michigan, Chicago, IL 60616-1707 $7,625,000 Aug 2022 139,900 SF
2016 Michigan, Chicago, IL 60616-1707 $7,625,000 Aug 2022 139,900 SF
2026 Michigan, Chicago, IL 60616-1707 $7,625,000 Aug 2022 139,900 SF
2022 Michigan, Chicago, IL 60616-1707 $7,625,000 Aug 2022 139,900 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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