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Optimus 161 E Grand Ave 45,148 SF Office Building Chicago, IL 60611 For Sale
Executive Summary
Colliers is pleased to present 161 East Grand Avenue, a rare redevelopment and adaptive reuse opportunity in the heart of Chicago’s Streeterville neighborhood. Located just off North Michigan Avenue and within close proximity to Navy Pier, the Chicago River, and the Loop, the property offers premier visibility, exceptional connectivity, and a highly desirable location within one of the city’s most established and affluent urban submarkets.
The property is currently improved with an approximately 45,148-square-foot brick office building, including a raised basement, situated on a 9,902-square-foot parcel. Originally built in 1924 and extensively renovated, the building provides meaningful near-term functionality while also presenting substantial long-term redevelopment potential.
DX-12 by-right zoning supports a wide range of uses at the underwritten density. Up-Zoning to achieve a 16+ FAR represents buyer-pursued upside, subject to confirmation with city zoning approval and processes.
Supported by strong surrounding demand drivers, immediate access to transit and major transportation corridors, and healthy downtown multifamily fundamentals, 161 East Grand Avenue offers investors and developers a unique opportunity to acquire a strategically located asset with both current utility and compelling future upside.
The property is currently improved with an approximately 45,148-square-foot brick office building, including a raised basement, situated on a 9,902-square-foot parcel. Originally built in 1924 and extensively renovated, the building provides meaningful near-term functionality while also presenting substantial long-term redevelopment potential.
DX-12 by-right zoning supports a wide range of uses at the underwritten density. Up-Zoning to achieve a 16+ FAR represents buyer-pursued upside, subject to confirmation with city zoning approval and processes.
Supported by strong surrounding demand drivers, immediate access to transit and major transportation corridors, and healthy downtown multifamily fundamentals, 161 East Grand Avenue offers investors and developers a unique opportunity to acquire a strategically located asset with both current utility and compelling future upside.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
45,148 SF
Building Class
C
Year Built
1924
Tenancy
Single
Building Height
5 Stories
Typical Floor Size
9,902 SF
Slab To Slab
12’
Building FAR
4.51
Lot Size
0.23 AC
Zoning
DX-12 - Downtown Mixed-Use District
Amenities
- Signage
1 1
Exceptionally walkable
100/100
Moderately drivable
60/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 17-10-126-009-0000 | Improvements Assessment | $2,205,610 CAD |
| Land Assessment | $1,024,406 CAD | Total Assessment | $3,230,016 CAD |
Property Taxes
Parcel Number
17-10-126-009-0000
Land Assessment
$1,024,406 CAD
Improvements Assessment
$2,205,610 CAD
Total Assessment
$3,230,016 CAD
Contacts
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Tyler Hague -
Lauren Stoliar -
Kate Thurman -
Ryan Roegner -
David Burden -
Thomas Berarducci -
Tommy Sears -
Colliers
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Photos
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Optimus | 161 E Grand Ave
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