717 Michigan AveChicago, IL 60611

Property Details for 717 Michigan Ave

Year built

1970

Lot size

0.38 AC

Property size (Sq ft)

62,200 SF

Property type

Office buildings

APN

17-10-106-001

APU

1710106001

Description

717 N Michigan Avenue presents a unique retail investment opportunity in the heart of Chicago's Magnificent Mile, between Superior and Huron Streets. This prime location boasts a total of 95,322 square feet across 10 suites, offering exceptional flexibility for various retail concepts. Currently, 61,778 square feet are available, with spaces ranging from a minimum of 412 square feet to a maximum contiguous space of 15,394 square feet. The building's prestigious address places it within the Gold Coast neighborhood, surrounded by luxury retailers, high-end hotels, and significant foot traffic. Current tenants include established brands like Mango and AloYoga, demonstrating the location's appeal and strong tenant base. The property's strategic placement within this unparalleled mixed-use district provides unparalleled visibility and access to a high-density population of affluent consumers. This is an exceptional chance to secure a presence in one of Chicago's most coveted retail destinations. The property is located in Cook County, Illinois, with a zip code of 60611. The building's address is 717 N Michigan Ave, Chicago, IL. This is a multiple tenancy property, ideal for a variety of retail businesses seeking a high-profile location.

• CAP approach

  CAP return

  Valuation

  6%

  $19,989,308

  6.5%

  $18,451,668

  7%

  $17,133,692

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,101,550

  Geo Method

  $8,101,550

• Alternative Use

  Use

  Valuation

  Residential

  $22,880,068

  Hospitality

  $20,958,020

  Educational

  $17,436,826

  Medical

  $18,036,506

  Retail

  $27,123,952

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.8955

Longitude

-87.6237

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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