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1507-1509 S Michigan Ave 25,000 SF 64% Leased Retail Building Chicago, IL 60605 For Sale

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INVESTMENT HIGHLIGHTS

  • 25,000 SF Mixed-Use Building
  • DX-7 Zoning
  • Ideal for Investors, Developers, Owner-Users
  • 4,347 SF Secured Adjacent Parking Lot
  • Excellent South Loop Location
  • 6 Total Units - 2 Occupied Ground-Floor Commercial Units + 4 Spacious Loft-Style Units

EXECUTIVE SUMMARY

Don’t miss this rare opportunity to acquire a 25,000 SF mixed-use building along with a 4,347 SF adjacent parking lot in the heart of Chicago’s vibrant South Loop neighborhood. Currently improved with two occupied ground-floor commercial units and four expansive loft-style units above—ideal for residential or commercial use. Elevator building with natural lighting. The property is zoned DX-7, offering significant redevelopment potential or value-add investment upside. Near Soldiers Field, WinTrust Arena, Museum Campus. Chicago's South Loop, a colorful 74-square-block neighborhood that is home to iconic Chicago museums, lakefront parks and popular South Loop event venues, including gourmet restaurants and luxury hotels. South Loop venues are within close proximity to downtown Chicago and features fantastic public transportation options, including access to all four Chicago Transit Authority (CTA) rail lines. The neighborhood is located only eight miles from Midway International Airport and 20 miles from O'Hare International Airport. Whether you're looking to expand your portfolio or reposition in one of Chicago’s fastest-growing areas, this offering is well-positioned for long-term growth.

PROPERTY FACTS

Sale Type
Investment or Owner User
Property Type
Retail
Building Size
25,000 SF
Building Class
B
Year Built
1903
Percent Leased
64%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.61
Lot Size
0.22 AC
Zoning
DX-7 - 150 Units (DX-7) Zoning, 1 space per 1,000 for first 100 units
Parking
16 Spaces (1.07 Spaces per 1,000 SF Leased)
Frontage
165’ on Michigan Ave

AMENITIES

  • Bus Line
  • Fenced Lot
  • Signage
  • Skylights
  • Air Conditioning

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • POSITION
  • AVAILABLE
  • 2N
  • 4,500 SF
  • Office
  • -
  • Now

Great 4,500 second floor retail/office space for lease in awesome South Loop location! Elevator building with natural lighting. Near Soldiers Field, WinTrust Arena, Museum Campus. Chicago's South Loop, a colorful 74-square-block neighborhood that is home to iconic Chicago museums, lakefront parks and popular South Loop event venues, including gourmet restaurants and luxury hotels. South Loop venues are within close proximity to downtown Chicago and features fantastic public transportation options, including access to all four Chicago Transit Authority (CTA) rail lines. The neighborhood is located only eight miles from Midway International Airport and 20 miles from O'Hare International Airport.

  • 2S
  • 4,500 SF
  • Office
  • -
  • Now

Great 4,500 second floor retail/office space for lease in awesome South Loop location! Elevator building with natural lighting. Near Soldiers Field, WinTrust Arena, Museum Campus. Chicago's South Loop, a colorful 74-square-block neighborhood that is home to iconic Chicago museums, lakefront parks and popular South Loop event venues, including gourmet restaurants and luxury hotels. South Loop venues are within close proximity to downtown Chicago and features fantastic public transportation options, including access to all four Chicago Transit Authority (CTA) rail lines. The neighborhood is located only eight miles from Midway International Airport and 20 miles from O'Hare International Airport.

Space Size Space Use Position Available
2N 4,500 SF Office - Now
2S 4,500 SF Office - Now

2N

Size
4,500 SF
Space Use
Office
Position
-
Available
Now

2S

Size
4,500 SF
Space Use
Office
Position
-
Available
Now

2N

Size 4,500 SF
Space Use Office
Position -
Available Now

Great 4,500 second floor retail/office space for lease in awesome South Loop location! Elevator building with natural lighting. Near Soldiers Field, WinTrust Arena, Museum Campus. Chicago's South Loop, a colorful 74-square-block neighborhood that is home to iconic Chicago museums, lakefront parks and popular South Loop event venues, including gourmet restaurants and luxury hotels. South Loop venues are within close proximity to downtown Chicago and features fantastic public transportation options, including access to all four Chicago Transit Authority (CTA) rail lines. The neighborhood is located only eight miles from Midway International Airport and 20 miles from O'Hare International Airport.

2S

Size 4,500 SF
Space Use Office
Position -
Available Now

Great 4,500 second floor retail/office space for lease in awesome South Loop location! Elevator building with natural lighting. Near Soldiers Field, WinTrust Arena, Museum Campus. Chicago's South Loop, a colorful 74-square-block neighborhood that is home to iconic Chicago museums, lakefront parks and popular South Loop event venues, including gourmet restaurants and luxury hotels. South Loop venues are within close proximity to downtown Chicago and features fantastic public transportation options, including access to all four Chicago Transit Authority (CTA) rail lines. The neighborhood is located only eight miles from Midway International Airport and 20 miles from O'Hare International Airport.

Walk Score®
Walker's Paradise (93)
Transit Score®
Excellent Transit (85)
Bike Score®
Biker's Paradise (93)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

NEARBY MAJOR RETAILERS

Starbucks
Mariano's
PNC Bank
Giordano's
CrossFit
StretchLab
Pure Barre
F45 Training
Orangetheory Fitness
Anytime Fitness

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 17-22-108-023-0000
  • 17-22-108-024-0000
Land Assessment
$397,710
Improvements Assessment
$205,990
Total Assessment
$603,700
  • Listing ID: 36322334

  • Date on Market: 6/19/2025

  • Last Updated:

  • Address: 1507-1509 S Michigan Ave, Chicago, IL 60605

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