2419-2423 S Michigan Ave Chicago, IL 60616
For Sale
1 / 3
- 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
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.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.