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$950,000
Est. payment /mo
35,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 35,000 sqft
Price per Sqft $27
MLS Listing ID 12341399
Year Built 1910
Annual Tax Amount $75,786
Tax Year 2023
Lot Dimensions 50X168
Property Sub-Type Mixed Use
Property Description
2345 S MICHIGAN AVENUE is a 35,000 square foot, four-story historic landmark loft building in the heart of the Motor Row Historic District. Situated in one of Chicago's most dynamic corridors, this unique investment, originally constructed in 1910 by architect F.E. Davidson, is comprised of four floors of beautifully renovated lofted space, freight elevator, basement plus a spectacular roof deck. All floors are meticulously maintained and boasts lofty ceilings, exposed brick walls and robust heavy timber beams. The windows encompass three sides, bathing the entire interior with natural light. Sweeping panoramic views of Lake Michigan, the downtown skyline, McCormick Square can be enjoyed from the rooftop. The property benefits from its prime Michigan Avenue address, designated as a Pedestrian Street, along with convenient access to multiple rail lines. Additionally, the property is located within the 24th Michigan TIF District, a redevelopment-focused area enhancing land use around McCormick Place. As a participant in the Chicago PACE program, the property may also be eligible for long-term, cost-effective financing options. Located just steps away from McCormick Square, a thriving center for dining, entertainment and hospitality, the property also benefits from a Downtown Service (DS) zoning designation, ensuring exceptional versatility for various commercial endeavors, including TOD incentives under the Connected Communities As transformative developments continue shaping the South Loop, this property stands at the forefront of revitalization, drawing both investors and businesses. The South Loop neighborhood of Chicago is a sought-after location for both business and residential because of its central location, connecting Chicago's Southside, the Loop and the Magnificent Mile. This vibrant neighborhood hosts a multitude of retail shopping options, art galleries, hotels and high-end residential. The neighborhood is also Chicago's go-to hub of nightlife and entertainment, featuring many of the city's acclaimed bars and clubs. The area continues to be on the rise, seeing a significant increase in residential developments and developer / investor activity over the past several years.
Location
State IL
County Cook
Interior
Cooling Central Air
Fireplace N
Exterior
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Listed by Daniel Hyman • Millennium Properties RE, Inc.