2244 Michigan AveChicago, IL 60616

Exceptional opportunity to acquire a thriving restaurant and storefront property at 2244 S Michigan Ave, Chicago, IL 60616. This 4,125 square foot, single-tenant building boasts a strong financial performance, with a current NOI of $98,238 and a pro-forma NOI of $113,419, translating to a 6.55% cap rate and a pro-forma cap rate of 7.56%. The asking price is $1,500,000, representing a price per square foot of $363.64. Built in 1888 and completely renovated, the property features a new roof and all-new interior fixtures. Currently operating as Bar 22, this established business benefits from a 10-year lease (commencing May 1, 2017, and expiring April 30, 2027), with approximately 2.4 years remaining. The property enjoys a 100% occupancy rate. Its strategic location within Chicago's vibrant New Motor Row entertainment district offers unparalleled access to major attractions, including McCormick Place Convention Center (attracting nearly 3 million visitors annually), Wintrust Arena, and the new Marriott hotel. The area is undergoing significant redevelopment, including a $390 million expansion project creating McCormick Square, a new destination for nightlife, hotels, and retail. Furthermore, its location within an Opportunity Zone provides attractive tax advantages for investors. Convenient public transportation via the CTA "L" station (Red, Orange, and Green Lines) and proximity to major interstate systems (I-90/94, I-55, and Lake Shore Drive) enhance its accessibility. This property presents a compelling investment opportunity with significant upside potential.