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Property profile & analytics
FOR SALE
Parking lots & garages

2419-2423 S Michigan Ave Chicago, IL 60616

10,774 SF
Property ID
US28-Q020149
Property summary
AI-generated overview

- Rare stand-alone building with off-street parking. - Within walking distance to variety of public transit options: CTA train, CTA bus, Metra train, & bike stations. - Immediate access to multiple expressways and major transportation corridors. - Frontage on I-55 (Stevenson) expressway with visibility from 103,700 vehicles per day. - Across the street from the largest convention center in North America, McCormick Place. - Potential Incentives: Qualified opportunity zone, class L property tax Incentive, landmark district permit fee waiver program, & 24th/Michigan TIF. - Total Building Size: ± 10,774 Sq. Ft. - Total Land Size: ± 20,294 Sq. Ft. - Off-Street Parking: 25 Spaces - Loading: 1 Drive-In Door - Ceiling Height: 18’ Clear - Column Spacing: Clear Span; No Columns - Frontage: 64’ on Michigan Avenue - Zoning: DS (Downtown Service) - Alderman: Pat Dowell | 3rd Ward - Parcels: 17-27-117-004-0000; 17-27-117-005-0000; 17-27-117-031-0000; 17-27-117-035-0000 - RE Taxes: $96,668 ($8.97 per Sq. Ft.) - Sale Price: $2,693,500

Property profile
Verified
Property type Parking lots & garages
Total area 10,774 SF
UPID US28-Q020149
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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