Retail Space - For Sale
2248 South Michigan Avenue Chicago, IL 60616
Details & Description
Price: $3,800,000
  • Property Type Retail for Sale : Other Retail
  • Lot Size Acres 0.170
  • Building Sq Ft 21,000
  • Building Price per Sq Ft $180.95
  • Land Sq Ft 7,405
  • Land Price per Sq Ft $513.17
Multifamily Investment Advisors is pleased to present 2248 S. Michigan. The property was originally built in 1912 and renovated in 2006. Chicago’s South Loop, a colorful 74- square-block neighborhood that is home to iconic Chicago museums, lakefront parks, and popular South Loop event venues, including gourmet restaurants and luxury hotels. South Loop venues are within close proximity to downtown Chicago and feature fantastic public transportation options, including access to all four Chicago Transit Authority (CTA) rail lines. The neighborhood is located only eight miles from Midway International Airport and 20 miles from O’Hare International Airport.
Property ID:    300296
Property URL: melqr.com/300296
Generated:    03-30-23
Property Highlights
Additional Photos
Listing Agents
Tony Hardy

O: 773-575-6082
tonyhardy@kw.com
Travis Montgomery

O: 773-946-8816
travis.m@kwcommercial.com
Ariana Abercrumbie

O: 312-216-2422
M: 312-805-3756
ariana@kwcommercial.com
While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.
Retail Space / Illinois / Chicago / 60616 / 2248 South Michigan Avenue

2248 South Michigan Avenue

Chicago, IL 60616

Listing ID: 300296
$3,800,000
For Sale
  • Property Type Retail for Sale : Other Retail
  • Lot Size Acres 0.170
  • Building Sq Ft 21,000
  • Building Price per Sq Ft $180.95
  • Land Sq Ft 7,405
  • Land Price per Sq Ft $513.17
  • 2248 South Michigan Avenue Chicago, IL 60616 | for Sale | Photo 1
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Property Highlights
• DS-5 Zoning
• Elevator Building
• 12' Ceiling Height
• Located two blocks from McCormick Center
• 1.10 - miles to Chicago's Central Business District
• 1.87 - miles to Soldier Field Stadium
• Located two blocks from I-55
• 1.8 - miles to Museum Campus
• 4 minutes walking distance to Lake Shore Drive
• Very close to Grant Park and Buckingham Fountain
• 4 minutes biking distance from Metra Station
Description

Multifamily Investment Advisors is pleased to present 2248 S. Michigan. The property was originally built in 1912 and renovated in 2006. Chicago’s South Loop, a colorful 74- square-block neighborhood that is home to iconic Chicago museums, lakefront parks, and popular South Loop event venues, including gourmet restaurants and luxury hotels. South Loop venues are within close proximity to downtown Chicago and feature fantastic public transportation options, including access to all four Chicago Transit Authority (CTA) rail lines. The neighborhood is located only eight miles from Midway International Airport and 20 miles from O’Hare International Airport.

Attachments & Files
2248-s-michigan-2023-om-optimized-0T7-qDo.pdf

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Chicago Area Market Trends

Listing Demographics for 2248 South Michigan Avenue Chicago, IL 60616

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population40,989275,730706,175
Population Median Age413737
Population by Age0-9 Yrs3263 (7%)23516 (8%)68528 (9%)
10-19 Yrs3089 (7%)23537 (8%)68482 (9%)
20-29 Yrs6285 (15%)61284 (22%)156537 (22%)
30-39 Yrs8719 (21%)59620 (21%)139129 (19%)
40-49 Yrs5307 (12%)31764 (11%)81214 (11%)
50-59 Yrs6351 (15%)29587 (10%)74891 (10%)
60-69 Yrs4104 (10%)25926 (9%)63583 (9%)
70+ Yrs3870 (9%)20497 (7%)53811 (7%)
Median HH Income$84,298$82,296$71,404
Total Household Income< 24K4739 (22%)26972 (20%)72009 (22%)
25-49K2342 (11%)17593 (13%)50944 (16%)
50-74K2321 (11%)17411 (13%)41396 (13%)
75-99K2647 (12%)15940 (11%)35130 (11%)
100-199K5548 (26%)35348 (26%)73127 (23%)
200K+3176 (15%)19993 (15%)44544 (14%)
Highest Education LevelNo Diploma44582228468971
Diploma or GED40692707584987
Some College38692433964349
Assoc. Degree1088838521257
Bachelors Degree861962927143893
Higher Degree1094661347126820
Total Housing Units21,865148,754360,107
--Owner-Occupied9,88551,296120,571
--Renter-Occupied10,88981,961196,579
Owner-Occupied Values< 100K25617117046
100-199K719429718199
200-299K20211114723674
300-399K26191194620282
400-499K1596823315873
500K+26731396335498
Total Working Age Population35,781240,550600,339
In Work Force24,566168,985407,270
Not In Work Force11,21571,565193,069
Workforce Employed23,702158,130377,430
Workforce Unemployed85310,74829,600
Civlian Workforce24,555168,877407,030
Military Workforce11108240
Total Households20,773133,257317,150
Family Households9,03555,405138,307
Non-Family Households11,73977,853178,843
Married Couple6,67338,30389,471
Other Family2,36217,10248,836
Married w/Child1,93811,57630,506
Single Male w/Child1161,2934,323
Single Female w/Child8306,05819,080

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Illinois12,419,293+312,830,632+1214,316,487+615,138,849
Cook County5,376,741-35,194,675+105,707,832+55,990,243

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Listing Location & Map Views
Other Retail Space Listings for Sale Nearby
Address Price Sq Ft Acres
2347 South Michigan Avenue, Chicago, IL $1,650,000 18000 0.19
1307 South Wabash Avenue, Chicago, IL $2,499,000 4700 -
1233 South Wabash Avenue, Chicago, IL $2,400,000 9975 0.1
3232 South Doctor Martin Luther King Junior Drive, Chicago, IL CALL 19000 1.04
3453 South Prairie Avenue, Chicago, IL $799,000 5000 0.2
633 South Plymouth Court, Chicago, IL $1,250,000 6645 -
3142 South Morgan Street, Chicago, IL $675,000 3200 0.14
Confidential, Chicago, IL $385,000 2800 -
3316 South Morgan Street, Chicago, IL $789,999 2000 0.2
24 East Adams Street, Chicago, IL CALL 8129 0.06
Closest Commercial Airports
Airport Distance (mi)
Chicago Midway International Airport (MDW) 8
Chicago O'Hare International Airport (ORD) 17
South Bend Regional Airport (SBN) 68
Listing Agent
Tony Hardy - CRE Agent at

Tony Hardy

Independent Agent

773-575-6082 (office)

VIEW AGENT PROFILE

kwcommercial.com

CONTACT ME

Listing Co-Agent
Tony Hardy - CRE Agent at

Travis Montgomery

773-946-8816 (office)

CLICK TO VISIT

Listing Co-Agent
Tony Hardy - CRE Agent at

Ariana Abercrumbie

312-216-2422 (office)

312-805-3756 (mobile)

CLICK TO VISIT

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