318-320 S Michigan Ave
Chicago, IL 60604
Richelieu Flats · Property For Lease · 73,398 SF

High profile, three level commercial condo/vertical separation for lease or sale in the Loop. Flagship restaurant/retail opportunity situated on South Michigan Avenue. Black iron infrastructure in place. Outdoor seating available. Loading dock in the rear of the building. 2nd floor mezzanine can be converted into full floor for residential/office/retail use of approx 2,600 SF. Situated on Michigan Avenue, 320 S. Michigan captures multiple markets. In addition to the lunch/work crowds, the location could attract daily commuters, students who attend the many universities surrounding the property, tourists visiting the varied attractions of Michigan Avenue and shoppers coming from the “Mag Mile”- that high-end retail stretch of Michigan Avenue positioned north of the property. Diners 320 South Michigan is within approximately one-tenth of a mile of several restaurants open for dinner, and frequented by tourists and neighborhood residents alike; namely Seven Lions, Tesori, Russian Tea Time, The Gage, Acanto, Miller's Pub, Remington and the Park Grill. In total, over 275 restaurants line Mag Mile. Attraction/Cultural Attraction Attendees The Art Institute of Chicago, open from 10:30 to 5:00 p.m. (and 8:00 p.m. on Thursdays), Auditorium Theater and The Chicago Symphony Orchestra are the immediate neighbors to 320 South Michigan and the theater district is located just north of the property. The Art Institute -currently one of the top tourist destinations in Chicago is positioned such that the space could cater to the tens of thousands of tourists year-round as they exit the venue or prior to their cultural visit. The City of Chicago reports that tourism in the area is only increasing year to year as the amount of visitors to the Art Institute has increased 22.7% from 2016. Convention Attendees 320 South Michigan is well-positioned to serve the attendees of the convention center at McCormick Place who stay at hotels along Michigan Avenue that are within walking distance. In January of 2018, the mayor of Chicago reported on CBS Chicago that of the 28 major conventions that met in Chicago during the first six months of this year, five experienced record attendance figures, five more experienced increased attendance above the previous year, four completely sold-out available exhibit space, and three had record sales in exhibitor space. The proximity to the hotels that serve these conventions can capture another demographic.