Investment Overview

Marcus & Millichap is pleased to exclusively offer a 4,826 vacant square feet of ground-level retail space beneath a luxury 9-unit boutique building. The units above were extensively renovated and converted into luxury apartments in 2017, though they are not included in this offering. This presents an opportunity to add value by leasing up the ground floor retail space. The location is irreplaceable, situated in the heart of Chicago’s Loop, just steps from the Chicago Riverwalk and the Merchandise Mart. It is conveniently located 0.5 miles from Interstate 90, which sees 240,400 vehicles per day, and one mile from the Interstate 290 interchange, with 189,800 vehicles per day. The surrounding area boasts a variety of renowned restaurants, including Prime & Provisions Steakhouse, Alla Vita, The Dearborn, Gibsons, Billy Goat Tavern, The Hampton Social, and Harry Caray’s Italian Steakhouse. Notable retailers nearby include Neiman Marcus, Prada, Saks Fifth Avenue, Anthropologie, Louis Vuitton, Nordstrom, Dior, Chanel, and Versace. With a Walk Score rating of 99 and a Transit Score of 100, this location is considered a walker’s and rider’s paradise. The area is affluent and offers significant growth. The average household income within 0.5 miles is $180,299, and nearly 250,000 people live within a two-mile radius. The population within 0.5 miles grew by 63% from 2010 to 2020 and is projected to increase by an additional 6% by 2028. The local workforce is impressive, with 226,000 people working within half a mile and nearly 800,000 within two miles. The property is just a three-minute walk (0.3 miles) from the new $385 million Google Headquarters, which plans to employ over 2,000 people by 2026. The property is also exceptionally well-served by public transportation and parking options. It is adjacent to a Divvy bike-sharing station and only 344 feet from the Clark/Lake Blue Line CTA Station, which had nearly 2.5 million passengers in 2023. It is 0.4 miles from Ogilvie Transportation Center, which serves three Metra lines with a combined ridership exceeding 12 million passengers in 2023. Additionally, there are numerous public parking garages and EV-charging stations in the vicinity.