333 Michigan AveChicago, IL 60601

Property Details for 333 Michigan Ave

Year built

1927

Lot size

0.08 AC

Property size (Sq ft)

382,600 SF

Property type

Office properties

Property subtype

Office buildings

APN

17-10-301-003

APU

1710301003

Description

333 North Michigan Avenue offers exceptional retail space in Chicago's vibrant Loop submarket. This Class B building, constructed in 1928 and renovated in 2020, boasts a total of 6,902 square feet across three stories. Currently, 5,631 square feet of vacant space is available, divisible into units ranging from 1,213 to 2,646 contiguous square feet, ideal for multiple tenants. The building features convenient amenities including 866 parking spaces and elevators. Situated on a prime corner lot (0.28 acres) at the intersection of Michigan and Wacker Drive, this location provides unparalleled visibility and accessibility, bridging the gap between the Magnificent Mile's luxury retailers, popular tourist attractions, and Chicago's bustling business district. The building's timeless architecture and central location within Cook County, Illinois (zip code 60601) make it an exceptional opportunity for businesses seeking high foot traffic and brand exposure. This is a rare chance to secure retail space in one of Chicago's most coveted locations.

• CAP approach

  CAP return

  Valuation

  6%

  $122,956,736

  6.5%

  $113,498,528

  7%

  $105,391,488

• Comparable approach

  Method

  Valuation

  Relative Method

  $49,833,652

  Geo Method

  $49,833,652

• Alternative Use

  Use

  Valuation

  Residential

  $140,738,176

  Hospitality

  $128,915,408

  Educational

  $107,256,104

  Medical

  $110,944,808

  Retail

  $166,842,832

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.8876

Longitude

-87.6242

CBSA code

16980

CBSA name

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

Property Tax & Assessments

FAQs

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