2419 S Michigan Ave 10,774 SF Industrial Building Chicago, IL 60616 $2,100,000 ($194.91/SF)
INVESTMENT HIGHLIGHTS
- Rare stand-alone building with off-street parking.
- Immediate access to multiple expressways and major transportation corridors.
- Across the street from the largest convention center in North America, McCormick Place.
- Within walking distance to variety of public transit options: CTA train, CTA bus, Metra train, & bike stations.
- Frontage on I-55 (Stevenson) Expressway with visibility from 103,700 vehicles per day.
- Potential Incentives: Qualified Opportunity Zone, Class L Property Tax Incentive, Landmark District permit fee waiver program, & 24th/Michigan TIF.
EXECUTIVE SUMMARY
2419 S. Michigan Avenue in Motor Row offers a 10,744 Sq. Ft. Industrial Warehouse available for sale.
Total Building Size: ± 10,774 Sq. Ft.
Total Land Size: ± 20,294 Sq. Ft.
Off-Street Parking: 25 Spaces
Loading: 1 Drive-In Door
Ceiling Height: 18’ Clear
Column Spacing: Clear Span; No Columns
Frontage: 64’ on Michigan Avenue
Zoning: DS (Downtown Service)
Alderman: Pat Dowell | 3rd Ward
Parcels: 17-27-117-004-0000; 17-27-117-005-0000;
17-27-117-031-0000; 17-27-117-035-0000
RE Taxes: $96,668 ($8.97 per Sq. Ft.)
Sale Price: $2,100,000
Rare stand-alone building with off-street parking.
Within walking distance to variety of public transit options: CTA train, CTA bus, Metra train, & bike stations.
Immediate access to multiple expressways and major transportation corridors.
Frontage on I-55 (Stevenson) Expressway with visibility from 103,700 vehicles per day.
Across the street from the largest convention center in North America, McCormick Place.
Potential Incentives: Qualified Opportunity Zone, Class L Property Tax Incentive, Landmark District permit fee waiver program, & 24th/Michigan TIF.
Total Building Size: ± 10,774 Sq. Ft.
Total Land Size: ± 20,294 Sq. Ft.
Off-Street Parking: 25 Spaces
Loading: 1 Drive-In Door
Ceiling Height: 18’ Clear
Column Spacing: Clear Span; No Columns
Frontage: 64’ on Michigan Avenue
Zoning: DS (Downtown Service)
Alderman: Pat Dowell | 3rd Ward
Parcels: 17-27-117-004-0000; 17-27-117-005-0000;
17-27-117-031-0000; 17-27-117-035-0000
RE Taxes: $96,668 ($8.97 per Sq. Ft.)
Sale Price: $2,100,000
Rare stand-alone building with off-street parking.
Within walking distance to variety of public transit options: CTA train, CTA bus, Metra train, & bike stations.
Immediate access to multiple expressways and major transportation corridors.
Frontage on I-55 (Stevenson) Expressway with visibility from 103,700 vehicles per day.
Across the street from the largest convention center in North America, McCormick Place.
Potential Incentives: Qualified Opportunity Zone, Class L Property Tax Incentive, Landmark District permit fee waiver program, & 24th/Michigan TIF.
TAXES & OPERATING EXPENSES (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $2,100,000 |
| Price Per SF | $194.91 |
| Sale Type | Owner User |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.47 AC |
| Rentable Building Area | 10,774 SF |
| No. Stories | 1 |
| Year Built | 1913 |
| Tenancy | Single |
| Parking Ratio | 2.32/1,000 SF |
| Clear Ceiling Height | 18’8” |
| No. Drive In / Grade-Level Doors | 1 |
| Opportunity Zone |
Yes |
| Zoning | DS-5 - Favorable in-place zoning |
Walk Score®
Very Walkable (83)
Transit Score®
Excellent Transit (77)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $353,805 (2024) | |
| Land Assessment | $152,700 (2024) | Total Assessment | $506,505 (2024) |
