2210-2216 South Michigan Ave
Mixed Use | 22,737 SF
Marketing description
2210-16 S Michigan is a 23,048 square foot retail and office mixed-use building. The first floor is comprised of three retail bays, all of which are leased. All three bays are currently occupied and operating. Storefront tenants include a restaurant and an upscale shoes and clothing store. The third bay is leased by a pizzeria. The second floor is comprised of three office bays that are all occupied.
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. A S390M expansion project to grow the nearby area is underway to create McCormick Square: a destination for new nightlife, hotels, and retail attractions.
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 DePaul's Wintrust Arena. All of these new developments will provide additional exposure to the property but it will also create a more vibrant community.
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 fans 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 in the immediate area.
Investment highlights
- Located in the South Chicago submarket, adjacent to the rapidly developing South Loop market
- Capital expenditures have positioned the improvement towards the upper end of the submarket
- 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
- The building is located at the southwest corner of East Cermak Road and South Michigan Avenue with visibility and exposure to over 20,850 vehicles per day
- Located near McCormick Place Convention Center, which attracts nearly 3 million visitors annually
- 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
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