1316 s michigan

Description:

Please to present the land parcel at 1316 S. Michigan Ave. in the South Loop market of Downtown Chicago, IL. The property located at 1316 S. Michigan in Downtown Chicago, IL, is a prime retail and land property that offers an exceptional opportunity for investors and business owners alike. The property consists of a 2,000-square-foot retail space, as well as a total of 10,800 square feet for the land, making it an ideal location for a variety of businesses.

Located in the heart of Downtown Chicago, the property benefits from a prime location that offers excellent visibility and foot traffic. The surrounding area is a bustling commercial and residential district, with numerous shopping and dining options, as well as a variety of entertainment venues and cultural attractions.

Currently, the property serves as a paved parking lot and a hospitality facility known as Hotel BnB. The single-story building occupies only 2,000 square feet of the 10,800-square-foot lot; therefore, demolition and site work costs would be minimal in the event of vertical construction redevelopment. 

Overall, the property at 1316 S. Michigan represents an exceptional opportunity for investors and business owners looking to establish a presence in one of the most dynamic and thriving neighborhoods in Downtown Chicago. With its prime location, modern amenities, and ample potential for growth and development, this property is a must-see for anyone interested in investing in the future of Chicago's retail and commercial landscape.




DX-7 Zoning 

0.25 Acres 

Prime location: The property is located in Downtown Chicago, which is a highly desirable area for commercial real estate. Its location on S. Michigan Avenue also puts it in close proximity to many popular attractions, including Grant Park and the Museum Campus. 

High foot traffic: Being located in a busy downtown area means that the property is likely to have a lot of foot traffic, which can be a major asset for retailers. This can help ensure a steady stream of customers and help drive sales. 

Strong rental potential: Depending on the size and layout of the property, it could be an attractive option for a variety of different businesses, from restaurants and cafes to boutique shops and offices. This can provide a lot of potential rental income for investors. 

Growing area: The Downtown area of Chicago is continuing to grow and develop, which can be a positive sign for investors. This can help drive up property values over time, potentially resulting in a strong return on investment. 

Strong local economy: The Chicago area has a strong and diverse economy, which can be a positive factor for investors. This can help ensure that businesses in the area remain profitable and that property values continue to rise over time.