Listed by Windy City RE LLC
Unpriced
2241-45 South Michigan Ave
Details
Property Type Office
Sub Type Executive Office, office
Square Footage 19,257
NOI $381,420
Tenancy Multi
Office | 19,257 SqFt
Marketing description
2245 S Michigan served as the former Buick Showroom on Motor Row. The three-story walk-up offers excellent natural light with exposures on three sides, while high ceilings and brick interiors define the buildings historic character. The building has brand new buildouts on the 2nd and 3rd floors. Brand new storefront windows give the building a more modern look. There is also parking available in the adjacent lot, which can be paired in the offering.
Located in the South Loop, this building is a short distance from McCormick Place, Wintrust Arena, and Marriott Marquis Hotel. It is also just two blocks from the Cermak Green Line L Station.
One of the primary highlights of the property is the rapidly growing community. Thanks to the properties proximity to the central business district, top parks, cultural attractions and schools, Chicago’s South Loop has started to become one of the hottest markets for newer construction.
Some of the newer developments include, eight high-rise apartment buildings, two hotel expansions, office buildings and DePauTs Wintrust Arena. All of these new developments will provide additional exposure to the property but it will also create a more vibrant community.
The South Loop is such a dynamic mix of attractions and histories that the neighborhood tends to be seen as many different things to many different people. Much of its eastern edge is encompassed by the Museum Campus, an impressive collection of cultural treasures that includes the Field Museum, Adler Planetarium and Shedd Aquarium This campus sits on scenic lakefront parklands that are an extension of Grant Park.
Jutting out further into Lake Michigan is Northerly Island, a peninsula sought out by nature lovers, while along the southern edge the sports fens know Soldier Field as the stadium for the beloved Chicago Bears. Meeting attendees are most familiar with McCormick place, the largest convention center in the country, which is also
Located in the South Loop, this building is a short distance from McCormick Place, Wintrust Arena, and Marriott Marquis Hotel. It is also just two blocks from the Cermak Green Line L Station.
One of the primary highlights of the property is the rapidly growing community. Thanks to the properties proximity to the central business district, top parks, cultural attractions and schools, Chicago’s South Loop has started to become one of the hottest markets for newer construction.
Some of the newer developments include, eight high-rise apartment buildings, two hotel expansions, office buildings and DePauTs Wintrust Arena. All of these new developments will provide additional exposure to the property but it will also create a more vibrant community.
The South Loop is such a dynamic mix of attractions and histories that the neighborhood tends to be seen as many different things to many different people. Much of its eastern edge is encompassed by the Museum Campus, an impressive collection of cultural treasures that includes the Field Museum, Adler Planetarium and Shedd Aquarium This campus sits on scenic lakefront parklands that are an extension of Grant Park.
Jutting out further into Lake Michigan is Northerly Island, a peninsula sought out by nature lovers, while along the southern edge the sports fens know Soldier Field as the stadium for the beloved Chicago Bears. Meeting attendees are most familiar with McCormick place, the largest convention center in the country, which is also
Investment highlights
- Located near McCormick Place Convention Center, which attracts nearly 3 million visitors annually
- Located in an Opportunity Zone, a census tract designated by state and federal government targeted for economic development by allowing investors to defer federal taxes on recent capital gains
- Business professionals and students have brought new life and redevelopment, filling the restaurants, music clubs, smaller theaters and museums that have all established themselves in the community
- Near the 10,000-seat multipurpose Wintrust Arena. Uses range from women's and men's basketball games, concerts, family shows and business conventions to name a few
- The new 1,200-room Marriot hotel with 93,000 square feet of elegant event space, including two 25,000-square-foot ballrooms
- Walking distance from CTA “L” station (Red, Orange and Green Lines)
- Proximity to the interstate system I-90/94, I-55 and Lake Shore Drive
Listing Contacts
Listed by Windy City RE LLC
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$--
Annual Debt Service
$--
$--
Annual Cash Flow
$381,420.00
$31,785.00/mo
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Brokerage Phone
Title
Is there information that looks off?
