5020 S Michigan Ave | Chicago, IL 60615
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
5020 S Michigan Ave
Chicago, IL 60615
Michigan Avenue Hotel | Value-Add Opportunity · Hospitality Property For Sale
·
10,188 SF
INVESTMENT HIGHLIGHTS
- The Michigan Avenue Hotel is a three-story, 40 unit, single-room occupancy brick hotel with an interior corridor situated on an ±8,000 SF lot.
- Value-add investment opportunity that offers a substantial upside to maximize a new owner’s return on investment.
- Within a brief two-mile radius of national and regional retailers, major fast-food chains, and local amenities.
- Nestled in the Washington Park neighborhood, with quick and easy access to major transportation routes on E 51st Street, I-90, and I-94 Expressway.
- Located in an Opportunity Zone that can offer powerful tax incentives to investors in the area.
PROPERTY FACTS
| Property Type | Hospitality | Building Size | 10,188 SF |
| Property Subtype | Hotel | No. Stories | 3 |
| Building Class | C | Year Built | 1903 |
| Lot Size | 0.18 AC | Corridor | Interior |
| Construction Status | Converted | ||
| Zoning | RM-5 - Residential Multi-Unit District | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.18 AC |
| Construction Status | Converted |
| Building Size | 10,188 SF |
| No. Stories | 3 |
| Year Built | 1903 |
| Corridor | Interior |
| Zoning | RM-5 - Residential Multi-Unit District |
AMENITIES
- Balcony
PROPERTY TAXES
| Parcel Number | 20-10-119-018-0000 | Improvements Assessment | $54,000 |
| Land Assessment | $28,000 | Total Assessment | $82,000 |
PROPERTY TAXES
Parcel Number
20-10-119-018-0000
Land Assessment
$28,000
Improvements Assessment
$54,000
Total Assessment
$82,000
1 of 1
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
