Property profile & analytics
8 Michigan Ave Chicago, IL 60603-3357
- Office buildings
- 212,200 SF
- 0.22 lot acres
OFF-MARKET
Value Estimations
$30,950,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US28-2740789
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Current Use by Public Records
- DLV Productions, Inc / Photography Service / (Bike/Boat/Book/etc) Store
- Next Level Construction and Development Inc. / Construction Company
- Olympian Diamonds / Big Box & Wholesale Store
- The Chicago Jewelry Buyers / (Bike/Boat/Book/etc) Store
- Ben Jacobson Consultants, Inc. / Tech Support Center / IT Consulting Firm
Property Details for 8 Michigan Ave
- Year built
- 1928
- Lot size
- 0.22 lot acres
- Property size
- 212,200 SF
- Property type
- Office buildings
- APN
- 17-15-101-009
- APU
- 1715101009
Description
8 South Michigan Avenue offers exceptional office space for lease in Chicago's vibrant Downtown - East Loop submarket. This iconic 38-story building boasts a classic architectural style and presents a unique opportunity for businesses seeking flexible and prestigious office accommodations. The building totals 55,752 square feet and features 28 individual suites, with a minimum divisible space of 243 square feet and a maximum contiguous space of 6,700 square feet. Currently, 54,393 square feet is available for lease, providing ample opportunity for various business needs. The building caters to diverse office types, including executive, medical, creative, and law offices. Enjoy breathtaking views of Millennium Park and Lake Michigan. Building amenities include elevators. The property's location at 8 S Michigan Ave, Chicago, IL 60603, places it in close proximity to numerous amenities and transportation options. This is an exceptional opportunity to establish a presence in one of Chicago's most desirable business districts. The building's smaller floor sizes allow for strong individual branding and identity. Inquire today to learn more about leasing options and secure your ideal office space.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $42,629,000
Market price range: $10.9M - $59.0M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $28,580,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $50,735,000 Change: +78% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $36,505,000 Change: +28% Conversion: Easy
- RETAIL STORES
- $30,890,000 Change: +8% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $25,420,000 Change: -11% Conversion: Difficult
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6249
- Latitude
- 41.8819
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$1,018,871
$1,296,350
$3,657,265
$4,953,615
-
$5,185,400
$14,629,060
$19,814,460
