216 Jackson BlvdChicago, IL 60606

Property Details for 216 Jackson Blvd

Year built

1899

Lot size

0.41 AC

Property size (Sq ft)

157,400 SF

Property type

Office buildings

APN

17-16-219-008

APU

1716219008

Description

This exceptional retail opportunity is located at 216 W Jackson Blvd in Chicago's vibrant Loop submarket. The property offers a total of approximately 3,863 square feet, encompassing a 3,043 square foot built-out former medical office suite. This space presents a unique chance to establish a business in a high-traffic area, benefiting from the significant daytime population drawn to the numerous surrounding office buildings. The location is highly desirable, situated just one block from the Willis Tower and three blocks from Union Station, ensuring excellent visibility and accessibility. The building's immediate vicinity boasts a diverse range of established retailers, including popular chains such as Jimmy John's, Giordano's, Starbucks, and Dunkin', creating a thriving commercial environment. The former restaurant space offers a substantial built-out area, potentially reducing initial setup costs for a new tenant. The property is categorized as retail with an office subtype and features multiple tenancies. The address is 216 W Jackson Blvd, Chicago, IL 60606. This is a rare chance to secure a prime retail space in one of Chicago's most sought-after locations.

• CAP approach

  CAP return

  Valuation

  6%

  $50,583,876

  6.5%

  $46,692,808

  7%

  $43,357,608

• Comparable approach

  Method

  Valuation

  Relative Method

  $20,501,350

  Geo Method

  $20,501,350

• Alternative Use

  Use

  Valuation

  Residential

  $57,899,080

  Hospitality

  $53,035,248

  Educational

  $44,124,704

  Medical

  $45,642,220

  Retail

  $68,638,424

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.8784

Longitude

-87.6345

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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