This property is Off-Market

2014-28 South Michigan Avenue
Chicago, IL 60616 ·

51,338 SF · Office For Sale

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2014-28 South Michigan Avenue

Price N/A Property Use Type Vacant/Owner-User
Building Size 51,338 SF No. Stories 2
Property Type Office Year Built 1950
Property Sub-type
Office Building
More...
  • Self/ Mini-Storage Facility
  • Office-Warehouse
  • Street Retail
Lot Size 26,738 SF
Listing ID: 18456149 Date Created: 11/21/2013 Last Updated: 01/03/2014

Description

CBRE, Inc. has been retained as the exclusive advisor for the sale of 2014-28 South Michigan Ave., Chicago, Illinois ( the Property ). 2014-28 South Michigan Avenue is a 2-story, concrete loft office building containing approximately 51,338 square feet of gross building area. The improvements are situated on a parcel of land containing approximately 26,738 square feet that is zoned DX-5, Downtown Mixed-use District. 2014-28 S. Michigan Avenue is currently 100%vacant making it an excellent redevelopment opportunity for a variety potential uses including: office, retail, residential, self-storage or hotel uses. The building' s layout, at-grade construction and alley access provide the ability to construct parking in the building. The all-concrete structure building is structurally sound and has favorable ceiling heights and column spacing.

2014-28 South Michigan Avenue enjoys an exceptional location along Michigan Avenue in Chicago' s dynamic South Loop neighborhood. Located adjacent to the Central Business District to the south, the South Loop neighborhood is one of Chicago' s fastest growing neighborhoods. 2014- 28 South Michigan is strategically located, just northwest of the McCormick Place Convention Center,with convenient and quick access to The Loop, the lakefront and the area' s major transportation links, including the expressway system and bus and rail service. By 2014, a new $50-million CTA Green Line train station will be constructed at Cermak Road, less than two blocks southwest of 2014-28 S. Michigan. When completed, the Motor Row entertainment district will be comprised of a variety of restaurants, bars and hotels that will cater to residents and visitors. A 1,200-room Marriott hotel and a 10,000-seat arena are being constructed just southeast of 2014-28 S. Michigan, near the intersection of Michigan Ave. and Cermak Road. The historic 7-story Studebaker Building, located next door to 2014-28 S. Michigan, is currently being redeveloped into a 65-unit luxury apartment building.

Highlights

  • Potential uses including: office, retail, residential, self-storage or hotel uses
  • New $50-million CTA Green Line train station being constructed just south of property.
  • Located just north of planned 10,000-seat arena and 1,200-room hotel
  • New 65-unit apartment building under construction next door.
  • Potential to construct indoor parking in building.
  • Zoned DX-5 with potential to add additional floor area with existing zoning.

Research

2014-28 South Michigan Avenue, Chicago, IL 60616 (Cook County)

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