Listed by Millennium Properties R/E
$2,750,000
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
Listed by Millennium Properties R/E
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?








