1450 S Michigan Avenue, Chicago, IL 60605 - Photo 1

1/1

$799,000

Sold
Closed
Commercial

1/1

Property Description

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.

Full Property Details

Full Property Details for 1450 S Michigan Ave

General

Sold For: $799,000
Taxes: $49,623 (2022)
Status: Closed
Type: Commercial
Source: MRED
MLS ID: 11899106
Added to Site: 835 day(s) ago

Interior

Interior Features: Employee Kitchen, Freight Elevator(s), Private Restroom(s), Public Restroom(s)

Additional Information

Security/Safety: Alarm on Site

Location

Area: CHI - Near South Side
County: Cook
Driving Directions: East or West on Roosevelt to State then South to property

Heating & Cooling

Cooling Type: Central Air Conditioning
Heating Type: Central Heat/Individual Controls

Structural Information

Construction: Brick
Exterior Const.: Brick, Block
Roof: Membrane
Stories/Levels: 2
Year Built: 1989

Unit Information

# Tenants: 1

Lot Features

Lot Size (Sq. Ft.): 5,518
Lot Dimensions: 31 x 170
Zoning: COMMR

Financial Considerations

For Sale/Rent/Lease: For Sale Only
Security Deposit: Alarm On Site
Assessment Year: 1989
Tax Amount: $49,623.5
Tax Year: 2022
Tenant Pays: Air Conditioning, Common Area Maintenance, Electricity, Heat, Janitorial Service, Taxes, Insurance, Repairs

Listed by Century 21 Circle
Sold by Concentric Realty Inc.

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— 1450 S Michigan Ave —

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Schools

Schools serving 1450 S Michigan Ave

School District:Chicago Public School District 299

Name	Grades	Distance
South Loop Elementary School 1212 South Plymouth Court, Chicago, IL 60605	PK-8	0.4 mi
Phillips Academy High School 244 East Pershing Road, Chicago, IL 60653	12-11	2.6 mi

Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1450 S Michigan Ave

Date

Details

Price

Change

Source

6/07/2024

Sold

$799,000

—

MLS

10/02/2023

Listed

$799,000

—

MLS

Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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1450 S Michigan Avenue, Chicago, IL 60605 (MLS# 11899106) is a Commercial property that was sold at $799,000 on June 07, 2024. Want to learn more about 1450 S Michigan Avenue? Do you have questions about finding other Commercial real estate for sale in Near South Side? You can browse all Near South Side real estate or contact a Coldwell Banker agent to request more information.

1450 S Michigan Ave Chicago, IL 60605