2241 S Wabash Avenue
Chicago, IL, 60616 $ 4,250,000
Baths0.0 Sq 39,900 Monthly Estimate*
$ 29,688
Studio
for $4,250,000. This 39,900 square foot building was built in 1915 on a lot size of 0.264463.
Just south of the South Loop of Chicago, this exceptional mixed-use commercial property in the Motor Row neighborhood of Chicago. This building's striking exterior design and its timeless architecture make it standout among other commercial properties in the area. The spacious three-level layout with soaring timber ceiling heights of 16' on the 2nd and 3rd floors with exposed brick, and 17' for the garage with a drive in door, complete with a full basement, totaling an impressive 39,900 square feet, with just about 10,000 SF per floor, 400 AMP electrical service per floor and a freight elevator. Situated in a TIF district and an opportunity zone, presents a unique chance for investors seeking tax incentives, capital improvements and long-term growth potential. The 3rd floor provides the perfect canvas for creating versatile and functional workspaces, complete with 1 office, a conference room with a skylight, a kitchenette and 2 dedicated restrooms. The 2nd floor has an impeccably designed interior that exudes professionalism and modernity with enclosed glass offices, 1-2 large conference rooms, 7-8 private offices, center open floorplan, reception area, media/conference room adjacent to the open office, IT room, storage room, 2 large dedicated restrooms, the kitchen is a dream. The main level consists of front retail/offices, garage in the rear of the building with 17-19 surface spaces, a drive in door, warehouse area, and a full locker room area, and the full basement offers full ceiling height space for storage, equipment, or expansion, allowing your business to grow and adapt as needed. This office building offers an incredible opportunity to be near McCormick Place, major transportation routes are easily accessible, ensuring effortless commuting for employees and clients via McCormick Place Green Line Station, bus routes, Interstates 55, 90, and Route 41-Lake Shore Drive. Surrounding this property, you'll find an array of amenities that cater to the needs of your business and employees. From a variety of dining options to retail shops and entertainment venues, the vibrant city of Chicago, offering a wealth of cultural experiences, world-class dining, and an energetic arts scene.
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FeaturesGeneralCooling Central Air
Possession Closing Negotiable
Roof Rubber
Zoning COMMR
Construction Materials Brick
Year Built 1915
Electric Service - 201 to 600 Amps
Tenant Pays Air Conditioning Common Area Maintenance Electricity Heat Taxes Insurance
Stories 3
Township South Chicago
Tax Year 2021
Current Use Commercial Office
Gross Income 0
County Cook
Net Operating Income 0
Operating Expense 0
Insurance Expense 8000
Property Type Commercial Sale Mixed Use
Possible Use Commercial Office and Research Retail
Status Active
Directions north/south on State to Cermak east to Wabash south to property.
City Chicago
Total Units 3
MLS Area CHI - Near South Side
Lot Size Square Feet 11520
Street Name Wabash
Tax Annual Amount 236726
Electric Expense 0
Fuel Expense 2400
Trash Expense 1140
Water Sewer Expense 600
Additional Parcels Y/N N
Virtual Tour https://tour.vht.com/434348751/2241-s-wabash-ave-chicago-il-60616/3dtour/idx
Days on Market 8
Standard Status Active
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InteriorFlooring Carpet Concrete Wood
Street Suffix Avenue
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ExteriorTotal Parking 19
Foundation Details Concrete Perimeter
Building Area Total 39900
Lot Dimensions 60 X 192
Exterior Brick
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* Excluded FeaturesList ByCentury 21 S.G.R., Inc.Broker
myra@century21sgr.com; myra.nim@gmail.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $29,688
- Monthly Property Taxes
- $19,727
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCommerical listings in Chicago, IL
Average List Price $836,400
Percent of Sale Price 80%
About Chicago, IL 2,755,380 Population
-4% Since 2002
$ 53,088 Median Income
36.07 Median Age
25% Households with Children
Trends Information provided by ATTOM Data Solutions.
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
10/31/2023 | $4,250,000 | | Listed Price |