2215 S Michigan Ave Chicago, IL 60616

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 features impressive 17-foot ceilings, while the second and third floors offer 13-foot ceilings, and the fourth floor has 14-foot ceilings. Currently vacant, this Class B property offers significant potential. Its 0.19-acre lot is zoned DS-5, and its location within a Tax Increment Financing (TIF) district provides access to potential redevelopment incentives, including the Class L Property Tax Incentive and TIF/Streamlined TIF funds. The property's prime location offers excellent connectivity to major expressways (I-55), Lake Shore Drive, and public transportation (CTA Cermak Green and Red Lines), placing it within easy reach of downtown Chicago, McCormick Place, the Museum Campus, and other key attractions. The asking price is $3,250,000 ($101.56/sq ft). While certain use restrictions apply due to its historic district designation, the potential for rezoning to DX or DR and the option to purchase bonus Floor Area Ratio (FAR) significantly enhance its versatility for a variety of mixed-use development projects. This property offers a blend of historic charm and modern functionality, making it an ideal investment for discerning buyers.