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- LoopNet Team
2347 S Michigan Ave
Chicago, IL 60616
Colby Building · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Located in one of the best Opportunity Zones in the US
- DS-5 Zoning allows for additional sq. footage to be added to the building
- Located adjacent to McCormick Place & the new Wintrust Arena & Chicago's vibrant South Loop
- Adjacent to McCormick Place, Chicago's South Loop neighborhood and other points of interest
- Expansive, high ceilings on the 2nd floor of the property
- Many possible uses including hospitality, office, mixed-use, retail & restaurant
PROPERTY FACTS
AMENITIES
- Signalized Intersection
ABOUT 2347 S MICHIGAN AVE , CHICAGO, IL 60616
SVN Chicago Commercial is pleased to present The Colby Building - a historic landmark property in the middle of Chicago's Motor Row Historic District. Adjacent to Chicago's vibrant South Loop/McCormick Square area, and located within steps to the new Wintrust Arena, this approx. 18,000 SF building sits in the closest Opportunity Zone to downtown Chicago. The longtime home of Lesly Motors, the property's DS-5 zoning will allow for additional sq. footage to be added to the property. With landmark status, any re-development of the property not only is eligible for Opportunity Zone tax benefits but also has the possibility of historic tax credits. The site has potential for mixed-use, hotel/hospitality, office, or retail/restaurant uses. One of the best locations in Chicago.
PROPERTY TAXES
| Parcel Number | 17-27-110-026-0000 | Improvements Assessment | $450,415 |
| Land Assessment | $67,335 | Total Assessment | $517,750 |
PROPERTY TAXES
