2221 Michigan AveChicago, IL 60616

Property Details for 2221 Michigan Ave

Year built

1915

Lot size

0.23 AC

Property size (Sq ft)

54,400 SF

Property type

Industrial properties

APN

17-27-102-003

APU

1727102003

Description

This exceptional redevelopment opportunity presents a 33,500-square-foot, three-story loft warehouse situated on a 9,988-square-foot lot (62' x 160') in Chicago's vibrant Motor Row Entertainment District. The property, built in 1919, boasts an 18-foot ceiling height on the first floor and benefits from significant development incentives, including Opportunity Zone designation, TIF financing, Class-L Rehabilitation eligibility, and Federal Historic Tax Credits. The building is zoned DS-5 and features approximately 62 feet of frontage on Michigan Avenue, providing excellent visibility and accessibility. The location offers convenient proximity to public transportation, with approximately 775 feet to the CTA Green Line (Cermak Stop) and approximately 1,967 feet to the CTA Red Line (Chinatown Stop). The property includes 16,440 square feet of air rights, offering potential for expansion. The anticipated occupancy date is October 17, 2024. This is an ideal owner/user investment in a prime location with substantial upside potential. The property's address is 2221 S Michigan Ave, Chicago, IL 60616, APN 17-27-102-003-0000. This unique property combines historic charm with modern development potential.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.8522

Longitude

-87.6234

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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