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Financial
Distress signals
Property profile

2419 S Michigan Ave Chicago, IL 60616

FOR SALE
Industrial properties
Property ID
US28-1558094
10,200 SF 0.16 ac lot Built 1913
Last sale Sep 2020
Entity Owned Owner of record is a legal entity (LLC / corporation). 6-yr Hold Held for 6 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

This exceptional investment opportunity presents a rare, stand-alone infill building at 2419-2421 S. Michigan Ave in Chicago, IL 60616. The property boasts 22,929 square feet of net rentable space across two units, situated on a 20,264 square foot lot (APN: 17-27-117-004, 17-27-117-005, 17-27-117-031, 17-27-117-035). The building features a desirable D-5 zoning designation, allowing for a wide range of uses. With an 18-foot ceiling height and two loading docks, this flex/distribution space…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

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

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2022

What does the county charge?
$32k
Tax billed · 2022
Assessed value$154k
Assessed land$26k
Assessed improvement$128k
Effective rate20.63%

Value estimate

· Oct 2026
$425k
$383k – $468k
CAP approach$985k
NOI build-up
Gross scheduled income$102k
Vacancy & credit loss−$6k
Operating expenses−$14k
NOI · 4.66% cap applied$82k

Realmo valuation models over county records and 7 qualifying comparable sales.

Recently sold

What actually traded nearby?
$77/SF
Submarket average, outlier-cleaned · 1038 recorded sales of this use type
Observed band · Q1–Q3$30 – $145
Qualifying comparables7

Cap rate analysis

How does the asset earn?
4.66%
$82k 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: Building Supply
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Building Supply17.8
HVAC Service12.6
Auto Parts Store11.8

Location

2419 S Michigan Ave Chicago, IL 60616
County assessor Recorded deeds · 3 transfers 7 qualifying comp sales 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 · 15 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
1836 Wabash, Chicago, IL 60616-1615 $3,050,000 Mar 2025 13,000 SF
2515 Wabash, Chicago, IL 60616-2308 $2,745,000 Jan 2025 24,400 SF
1913 Jefferson, Chicago, IL 60616-1010 $110,000 Sep 2024 4,000 SF
2620 Wabash, Chicago, IL 60616-2825 $1,500,000 Dec 2022 11,300 SF
2624 Wabash, Chicago, IL 60616 $1,500,000 Dec 2022 11,300 SF
654 21st, Chicago, IL 60616 $500,000 Oct 2021 5,100 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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