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2241 S Wabash Ave 39,900 SF Vacant Office Building Chicago, IL 60616 For Sale
EXECUTIVE SUMMARY
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 stand out 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 will 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.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Taxes |
$320,314
|
$8.03
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$320,314
|
$8.03
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Taxes (CAD) | |
|---|---|
| Annual | $320,314 |
| Annual Per SF | $8.03 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $320,314 |
| Annual Per SF | $8.03 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
39,900 SF
Building Class
B
Year Built
1910
Percent Leased
Vacant
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
9,975 SF
Slab To Slab
15’
Building FAR
3.27
Lot Size
0.28 AC
Opportunity Zone
Yes
Zoning
DS-3 - Downtown Service District
Parking
17 Spaces (0.43 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Bus Line
- Controlled Access
- Metro/Subway
- Property Manager on Site
- Security System
- Signage
- Skylights
- Kitchen
- Storage Space
- High Ceilings
- Natural Light
- Plug & Play
- Shower Facilities
- Wi-Fi
- Hardwood Floors
- Air Conditioning
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Walk Score®
Walker's Paradise (94)
Transit Score®
Excellent Transit (81)
Bike Score®
Very Bikeable (83)
PROPERTY TAXES
| Parcel Number | 17-27-101-021-0000 | Total Assessment | $1,186,438 CAD |
| Land Assessment | $121,780 CAD | Annual Taxes | $320,314 CAD ($8.03 CAD/SF) |
| Improvements Assessment | $1,064,658 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
17-27-101-021-0000
Land Assessment
$121,780 CAD
Improvements Assessment
$1,064,658 CAD
Total Assessment
$1,186,438 CAD
Annual Taxes
$320,314 CAD ($8.03 CAD/SF)
Tax Year
2024
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2241 S Wabash Ave
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