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$ 7,190,000
Est. payment /mo
Price Dropped by $310K
1455 S Michigan AVE Chicago, IL 60605
22,500 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Office/Tech
Listing Status Active
Purchase Type For Sale
Square Footage 22,500 sqft
Price per Sqft $319
MLS Listing ID 12604128
Year Built 1910
Annual Tax Amount $198,859
Tax Year 2024
Lot Dimensions 136x 161
Property Sub-Type Office/Tech
Property Description
Baird and Warner is pleased to present a unique investment or owner-user opportunity in the heart of Chicago's vibrant South Loop corridor. Located on an 1/2 acre land site, this 22,500 SF office building offers a rare combination of immediate cash flow and significant future upside. The property currently houses a successful operating business generating over $2,000,000 in revenue, making it an ideal acquisition for a corporate headquarters or an owner-user looking to establish a flagship presence in a high-growth area. Furthermore, the property's current DX-7 zoning provides a versatile foundation for various strategic plays. Investors can choose to maintain the existing structure for long-term appreciation or capitalize on the site's potential for high-rise development, which promises a substantial return on investment. This offering represents a rare chance to acquire a significant footprint in one of Chicago's strongest corridors. Whether you are looking for a stable investment or a site with transformative development potential, this property is positioned for long-term value. Please let me know if you would like to schedule a tour or receive additional information.
Location
State IL
County Cook
Area Chi - Near South Side
Zoning OFFIC
Interior
Cooling Central Air
Fireplace N
Building
Dwelling Type Office/Tech
Structure Type Brick
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Listed by Michael Galvan of Baird & Warner