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Office and Retail 2229 S Michigan Ave 32,500 SF 87% Leased Retail Building Chicago, IL 60616 For Sale
INVESTMENT HIGHLIGHTS
- In Qualified Opportunity Zone
- High Traffic Area Near McCormick Place & Wintrust Arena
- Great Frontage on S Michigan Ave
EXECUTIVE SUMMARY
The building features solid construction, an appealing and historic facade, and very high ceilings. It is less than one block from the 800-room Hyatt Hotel.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (PRO FORMA - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
ABOUT 2229 S MICHIGAN AVE , CHICAGO, IL 60616
Formerly a Ford Motor Company showroom, this building is a charming, decorative building that lends itself to many different users. Zoning can be accommodated public, institutional, retail and residential uses. With close proximity to McCormick Place, Millenium Park, CTA Red and Green Line, I-55 Expressway and Downtown Chicago. The building features solid construction, an appealing and historic facade, and very high ceilings. It is less than one block from both the Hyatt and Marriott Hotels and the new Wintrust Arena.
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Open space with high ceilings. Matterport tour: https://my.matterport.com/show/?m=MBeGvou8XLz
Open area.
| Space | Size | Space Use | Position | Available |
| 1 | 2,512 SF | Office | - | Now |
| 303 | 1,659 SF | Office | - | Now |
1
| Size |
| 2,512 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
303
| Size |
| 1,659 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
1
| Size | 2,512 SF |
| Space Use | Office |
| Position | - |
| Available | Now |
Open space with high ceilings. Matterport tour: https://my.matterport.com/show/?m=MBeGvou8XLz
303
| Size | 1,659 SF |
| Space Use | Office |
| Position | - |
| Available | Now |
Open area.
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 17-27-102-004-0000 | Total Assessment | $836,624 (2024) |
| Land Assessment | $74,925 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $761,699 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Presented by
Office and Retail | 2229 S Michigan Ave
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