Press Releases
Marcus & Millichap Brokers Sale of Retail Property in Chicago’s South Loop
May 16, 2025
CHICAGO, May 15, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 1160 S. Michigan Ave., a two-tenant, ground floor retail property located in Chicago, Illinois.
“The two tenants have been in place for over a decade and recently extended their leases, which signals strong performance and a clear commitment to doing business in downtown Chicago—despite the broader narrative often portrayed in the media,” said Mitchell Kiven, first vice president investments. “They’re capitalizing on the South Loop’s continued population growth and the renewed momentum we’re seeing in Chicago’s Central Business District as more people return to the office.”
Kiven and Nicholas Kanich, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a limited liability corporation. Carson Dodge, along with Kiven and Kanich, procured the buyer, Zam Investment LLC.
Located at the base of The Columbian, a 47-story residential tower at the intersection of Michigan Avenue and Roosevelt Road, the fully leased property is home to Burger Bar Chicago and Elements Massage. Positioned across from Grant Park and steps from the Roosevelt CTA station, the site benefits from exposure to more than 44,000 vehicles per day and strong foot traffic.
“The two tenants have been in place for over a decade and recently extended their leases, which signals strong performance and a clear commitment to doing business in downtown Chicago—despite the broader narrative often portrayed in the media,” said Mitchell Kiven, first vice president investments. “They’re capitalizing on the South Loop’s continued population growth and the renewed momentum we’re seeing in Chicago’s Central Business District as more people return to the office.”
Kiven and Nicholas Kanich, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a limited liability corporation. Carson Dodge, along with Kiven and Kanich, procured the buyer, Zam Investment LLC.
Located at the base of The Columbian, a 47-story residential tower at the intersection of Michigan Avenue and Roosevelt Road, the fully leased property is home to Burger Bar Chicago and Elements Massage. Positioned across from Grant Park and steps from the Roosevelt CTA station, the site benefits from exposure to more than 44,000 vehicles per day and strong foot traffic.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
