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Motor Row Historic District For Sale 2215 S Michigan Ave 32,000 SF 100% Leased Office Building Chicago, IL 60616 $2,990,000 ($93.44/SF)
EXECUTIVE SUMMARY
Located in Chicago's Historic Motor Row District, this 4-story building with a new elevator is designated for retail/office use only under Sub Area C of Planned Development 1153. Known for its striking early 20th-century architecture and restored facades, Motor Row offers a vibrant, walkable environment in the South Loop, just minutes from McCormick Place, the Museum Campus, Grant Park, Millennium Park, and Chinatown. The property benefits from excellent connectivity, with direct access to I-55, Lake Shore Drive, and nearby CTA Green and Red Line stations at Cermak. Located within a TIF district and the Motor Row Historic District, the site holds future development potential, possibly rezoning to DX or DR for mixed-use projects.
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
32,000 SF
Building Class
B
Year Built
1915
Price
$2,990,000
Price Per SF
$93.44
Percent Leased
100%
Building Height
4 Stories
Typical Floor Size
8,000 SF
Building FAR
3.87
Lot Size
0.19 AC
Opportunity Zone
Yes
Zoning
DS-5 - Development Incentives: TIF and Streamlined TIF funds, Federal Historic Tax Credits,
Opportunity Zone, Class-L Rehabilitation, and Community Develo
D
AMENITIES
- Bus Line
- High Ceilings
1 1
Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (82)
Bike Score®
Very Bikeable (85)
PROPERTY TAXES
| Parcel Number | 17-27-102-002-0000 | Total Assessment | $589,514 (2024) |
| Land Assessment | $60,195 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $529,319 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
17-27-102-002-0000
Land Assessment
$60,195 (2024)
Improvements Assessment
$529,319 (2024)
Total Assessment
$589,514 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
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Motor Row Historic District For Sale | 2215 S Michigan Ave
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