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    Property profile & analytics

    8 Michigan Ave Chicago, IL 60603

    • Office buildings
    • 212,200 SF
    • 0.22 lot acres
    For Lease
    View listing
    $23 SF/Yr
    Value Estimation
    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 / Photographer
    • Next Level Construction and Development Inc. / Construction Company
    • Olympian Diamonds / Wholesale Jeweler
    • The Chicago Jewelry Buyers / Jewelry Buyer / Diamond Buyer
    • Ben Jacobson Consultants, Inc. / Computer Support And Services / Business Management Consultant

    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 Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    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

    Comparable in this City

    • Value Estimation by Request
      1.54 Acres

      131 Dearborn St

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      116 Michigan Ave

      OFFICE BUILDING (MULTI-STORY) • 104,600 SF
      116 Michigan Ave, Chicago, IL 60603-6095
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    • Value Estimation by Request
      1,092,500 SF

      33 Monroe St

      OFFICE BUILDING (MULTI-STORY) • 1,092,500 SF
      33 Monroe St, Chicago, IL 60603-5300
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    • Value Estimation by Request
      965,500 SF

      55 Monroe St

      OFFICE BUILDING (MULTI-STORY) • 965,500 SF
      55 Monroe St, Chicago, IL 60603-5001
      View Details
    • Value Estimation by Request
      965,500 SF

      55 Monroe St

      OFFICE BUILDING (MULTI-STORY) • 965,500 SF
      55 Monroe St, Chicago, IL 60603-5001
      View Details
    • Value Estimation by Request
      1,437,400 SF

      135 La Salle St

      OFFICE BUILDING (MULTI-STORY) • 1,437,400 SF
      135 La Salle St, Chicago, IL 60603-4177
      View Details

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      Prime Downtown Chicago Office Space

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    8 Michigan Ave
    Chicago, IL 60603
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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