$799,000
1450 S Michigan Avenue
Chicago, IL, 60605
Excellent opportunity for a savvy investor to own this prime South Loop income producing property. The building is strategically located and positioned to achieve its true highest and best use, with high traffic from current existing restaurant ( Harold’s Chicken #88 ). There is also great potential for additional rental income from second floor unit which offers a large open space with two additional rooms which can be used as offices and also a water closet room. This unit is an ideal space for a Fitness Center, Office space, Entertainment Venue so bring your ideas. There is public street parking and just minutes to public transpiration. There is a long term agreement in place with AT&T which has a cell phone antenna in rear of building and they pay 1/3 of the current property taxes. This is an income producing property with seller having minimal expense.
Property Details
Price:
$799,000
MLS #:
MRD11899106
Status:
Pending
Beds:
0
Baths:
0
Address:
1450 S Michigan Avenue
Type:
Commercial
City:
Chicago
Listed Date:
Oct 2, 2023
State:
IL
ZIP:
60605
Year Built:
1989
Schools
Interior
Cooling
Central Air
Exterior
Construction Materials
Brick
Roof
Membrane
Financial
Buyer Agent Compensation
2.25% – $495Gross Lease Price
Tax Year
2022
Taxes
$49,624
Debra Dobbs is one of Chicago’s top realtors with more than 39 years in the real estate business.
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1450 S Michigan Avenue
Chicago, IL
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