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15211304
15211369

1631 S. Indiana Ave, Chicago, IL 60616

SS
IL 475136992
Millennium Properties R/E
DH
IL 471.013658x
Millennium Properties R/E
Listed by Millennium Properties R/E
$2,750,000
835 days on market
Updated 31 days ago

1631 S. Indiana Ave

Details
Property Type Retail
Sub Type Shopping Center
Square Footage 16,500
Occupancy 100%
Zoning DX-5
Parking Spaces 60 spaces
Parking Per SqFt 3.64

Retail | 16,500 SF

Marketing description

Available For Sale Is A 60-Space Parking Lot Along With A 16,245 Square Foot Retail/Office Condominium, That Comes With 10 Parking Spaces, In The South Loop. Situated Near The Corner Of Indiana Avenue And 18Th Street, The Parcel, With Present Zoning, Allows 172 Units Over 180,000 Square Feet Of Building. The Lot Is Adjacent To The Prairie District Lofts, A Condominium Building With 116 Residential Units And 16,245 Square Feet Of Leased Commercial Spaces On The Ground Level To Six Tenants. Excellent Opportunity For A Developer Or Investor To Benefit From The Area’S Recent Growth And Robust Rental Market. Attractions In The Area Include Soldier Field, Shedd Aquarium, Adler Planetarium, The Field Museum, And The School Of The Art Institute Of Chicago, Columbia College, Oyster House, Starbuck’S, Mariano’S And More.

In The Last Decade, The South Loop Has Seen A Tremendous Transformation, Quickly Becoming One Of The Premiere Areas With Its Attractive High-Rise Condominium Complexes, Close Proximity To Transportation, Fine Dining Establishments And Hot Entertainment Venues.

Investment highlights

  • 23,023 SF parking lot and 16,245 SF retail/office condomium
  • Fully leased retail/office condominiums
  • Low cost office space investment opportunity
  • In-place cashflow
  • Strong customer base from adjacent condominium building and surrounding venues
  • Desirable South Loop location in close proximity to Soldier’s Field, upscale shopping, museums, numerous award winning restaurants, entertainment venues 5-star hotels and downtown Chicago
  • Traffic count: 19,505 vehicles daily
  • Zoning: DX-5
  • Taxes (2022 - both under protest):
  • Parking Lot: $68,211.41
  • Prairie Lofts: $77,565.25

Listing Contacts

SS
IL 475136992
Millennium Properties R/E
DH
IL 471.013658x
Millennium Properties R/E
Listed by Millennium Properties R/E

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