Property profile

401 Michigan Ave Chicago, IL 60611

OFF-MARKET
Commercial real estate
Property ID
US28-1151510
Individually Owned Free & Clear
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Property summary

AI-generated overview

This Class A, 20,971 square foot office building at 401 North Michigan Avenue, Suite 1200, Chicago, IL 60611, offers a variety of workspace solutions. Located on the 12th floor of the landmark Equitable Building, this Cook County property boasts a prime location on the Magnificent Mile, directly across the bridge from the city's central business district. The building features 350 suites, with a minimum divisible space of 10 square feet and a maximum contiguous space of 1,300 square feet. Currently, 5,970 square feet are vacant. Renovated in 2019, the building includes elevators and offers various office configurations, including private, fully furnished, and equipped offices suitable for individuals or large companies. Options range from serviced and custom office spaces to disaster recovery spaces and day offices. Amenities include a training room accommodating up to 60 people, a lounge area, secure underground parking, and proximity to the Chicago Riverwalk and a vibrant restaurant and retail scene. The building offers a benefits program with exclusive discounts and procurement support. This exceptional property provides a unique opportunity to establish a presence in one of Chicago's most desirable business locations.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
APN 17-10-137-012
UPID US28-1151510

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Real Estate Agency
  • Environmental Consultant Commercial Real Estate Inspector
  • Law Firm
  • Title Company
  • Electrical Service

Location

401 Michigan Ave Chicago, IL 60611-4255
Chicago metro Census 81403 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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