Active · For Sale · Office/Tech

1455 S Michigan Avenue, Chicago, IL 60605

MLS opportunity selected in connection with 505 N Lake Shore Dr Chicago, IL, 60611

MLS #12604128

1455 S Michigan Avenue, Chicago, IL 60605
1455 S Michigan Avenue, Chicago, IL 60605CRER
1455 S Michigan Avenue, Chicago, IL 60605

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1455 S Michigan Avenue, Chicago, IL 60605

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The property

Executive summary

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 day care 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. Let's schedule a tour or contact me to receive additional information. Ownership will convey the business at…

Investor Resource

Property Intelligence

Financial Snapshot

Reported Annual Income
$2,000,000
Reported Annual Expenses
$1,650,000
Estimated NOI
$350,000
Estimated Cap Rate
5.07%
Estimated GRM
3.45
Annual Taxes
$198,859 (2024)

Property Details

Building Size
22,500 SF
Lot Size
21,896 SF
Lot Dimensions
136x 161
Stories
2
Year Built
1910
Building Age
New Rehab
Construction
Brick
Zoning
OFFIC
Parcel Number
17221080120000

Operations & Utilities

Heating
Central Bldg Heat
Cooling
Central Air
Electric
Service - 201 to 600 Amps

Location & Use

County
Cook
Market Area
Chicago - Near South Side

Reported figures come from the listing source. When shown, estimated NOI and cap rate use reported income and expenses; estimated GRM uses asking price and reported income. All figures should be independently verified.