2210 Michigan AveChicago, IL 60616

Property Details for 2210 Michigan Ave

Year built

1898

Lot size

0.11 AC

Property size (Sq ft)

23,800 SF

Property type

Retail space

Property subtype

Storefront properties

APN

17-27-101-029

APU

1727101029

Description

This exceptional Chicago office property, located at 2210 S Michigan Ave in the vibrant South Loop's Motor Row submarket, presents a unique investment opportunity. The two-story, 25,585 square foot building, constructed in 1898 and renovated in 2005, offers two available suites ranging from 2,994 to 4,290 square feet. The building boasts impressive 25-foot ceilings, ideal for creative office uses. Situated on a 0.43-acre lot, the property is conveniently located near McCormick Place and Wintrust Arena, providing excellent access to major transportation hubs. The building is within walking distance of the Cermak-McCormick Place and Cermak-Chinatown 'L' stations, offering easy commutes for employees. Its prime location also provides convenient access to Lake Shore Drive, Lake Michigan, and Interstate-55. The property is zoned DS-5 and features a Cook County APN of 17-27-101-030-0000. While there are no on-site parking spaces, the building's central location offers ample public transportation options. The building is classified as Class C and includes elevators. This is a rare opportunity to acquire a historic building in a rapidly developing area of Chicago. The property's unique character and convenient location make it an ideal space for businesses seeking a distinctive and well-connected office environment.

• CAP approach

  CAP return

  Valuation

  6%

  $11,243,503

  6.5%

  $10,378,618

  7%

  $9,637,289

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,811,874

  Geo Method

  $7,811,874

• Alternative Use

  Use

  Valuation

  Residential

  $8,754,753

  Hospitality

  $8,019,306

  Educational

  $6,671,969

  Medical

  $6,901,428

  Retail

  $10,378,618

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.8525

Longitude

-87.6243

CBSA code

16980

CBSA name

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

Property Tax & Assessments

FAQs

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