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Property Detail

South Michigan Avenue
2244 S Michigan Avenue offers the opportunity to own a single-story, 4,125-square-foot storefront .
$1,500,000

Description

  • 2244 S Michigan Avenue offers the opportunity to own a single-story, 4,125-square-foot storefront property, built-out as a bar/restaurant.
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  • Property is fully occupied by Bar22, a popular bar and restaurant along S Michigan Avenue.
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  • Situated in a heavily trafficked urban corridor designated as a Qualified Opportunity Zone.
  • Features a brand-new build-out, a new roof, interior, fixtures, mechanicals, plumbing, electrical, and a roughly 400-square-foot mezzanine.
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  • Located in Chicago's South Loop along the historic Motor Row near the McCormick Place-West Building and Cermak-McCormick Place L train station.
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  • Easily accessible via Interstate 90/94/Dan Ryan Expressway, Interstate 55, and Highway 41.

Executive Summary

Capitalize on a fully built-out restaurant and bar located on Chicago's historic Motor Row in the South Loop at 2244 S Michigan Avenue. This single-story, 4,125-square-foot storefront retail building is fully occupied by Bar22, a popular bar/restaurant for grabbing a bite or a cocktail after work. The property features a brand-new build-out, a new roof, mechanicals, plumbing, electrical, and a roughly 400-square-foot mezzanine above the bar that serves as an office. Investors will benefit from 100% occupancy and an incredibly accessible location in a highly trafficked urban corridor near the Cermak-McCormick Place L train station and the designation as a Qualified Opportunity Zone.

South Loop's refreshing blend of business and pleasure attracts a wide range of tenants who love to stay active and participate in a fast-paced, modern environment. Located just south of central downtown, South Loop encapsulates most of the Grant Park area and borders the shores of Lake Michigan. Many locals walk to work, and the exceptional access to public transportation makes it easy to get anywhere in the city. 2244 S Michigan Avenue is central to McCormick Place's burgeoning entertainment district, filled with a diverse population of students, musicians, politicians, artists, and professionals, contributing to the area's strong labor pool, thriving consumer base, and growing community.

2244 S Michigan Avenue is primed to offer an ideal investment opportunity in the thriving South Chicago area.

2244 S Michigan Ave

Listing ID : 00980

SKU: 980

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Price History

DateEventPrice
December 17 2024Listed$1,500,000.00