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2221 S Michigan Ave 33,500 SF Industrial Building Chicago, IL 60616 For Sale

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Investment Highlights

Opportunity Zone, TIF Financing, Class-L Rehabilitation, Federal Historic Tax Credits

Located in the Historic Motor Row Entertainment District

Executive Summary

± 33,500 sq. ft., 3-Story Loft Warehouse
9,988 sq. ft. Site (62’ x 160’)
Located in the Historic Motor Row Entertainment District
Multiple Development Incentives: Opportunity Zone, TIF Financing, Class-L Rehabilitation, Federal Historic Tax Credits
62’ of Frontage on Michigan Ave
Ceiling Height: 18’11” on 1st Floor
~775’ from CTA Green Line (Cermak Stop)
~1,967’ CTA Red Line (Chinatown Stop)
DS-5 Zoning / Alderman Pat Dowell (3rd Ward)
ASKING PRICE: Subject to Offer

2221 S Michigan -- OM

Survey - 2221 S Michigan Ave

Floor Plan - 3rd Floor

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	No. Stories	3
Sale Conditions	High Vacancy Property Redevelopment Project Building in Shell Condition	Year Built	1919
Property Type	Industrial	Tenancy	Single
Property Subtype	Manufacturing Flex Showroom General Retail Storefront Retail/Office Showroom	Clear Ceiling Height	18’
Building Class	C	No. Drive In / Grade-Level Doors	1
Lot Size	0.23 AC	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Rentable Building Area	33,500 SF
Zoning	DS-5 - Downtown Service District

Sale Type	Investment or Owner User
Sale Conditions	High Vacancy Property Redevelopment Project Building in Shell Condition
Property Type	Industrial
Property Subtype	Manufacturing Flex Showroom General Retail Storefront Retail/Office Showroom
Building Class	C
Lot Size	0.23 AC
Rentable Building Area	33,500 SF
No. Stories	3
Year Built	1919
Tenancy	Single
Clear Ceiling Height	18’
No. Drive In / Grade-Level Doors	1
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	DS-5 - Downtown Service District

Bus Line

Metro/Subway

Mezzanine

Water - City
Sewer - City
Heating - Gas

1 1

Walk Score®

Walker's Paradise (94)

Transit Score®

Excellent Transit (81)

Bike Score®

Very Bikeable (83)

What is a Walk Score®, Transit Score® & Bike Score®?

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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.®

Learn How It Works Detailed Scores

Property Taxes

Parcel Number	17-27-102-003-0000	Total Assessment	$413,061 (2025)
Land Assessment	$75,263 (2025)	Annual Taxes	($1) ($0.00/SF)
Improvements Assessment	$337,798 (2025)	Tax Year	2023