Milshire Hotel 2525 N Milwaukee Ave 27 Room Hotel Chicago, IL 60647 For Sale

33 Realty is pleased to present the Milshire Hotel, a redevelopment opportunity in heart of Logan Square, Chicago. This historic hotel property offers investors a unique value-add opportunity with the flexibility to reposition as either a boutique hotel or residential apartments, allowing developers to respond to market demands while maximizing returns. Built as a vintage hotel in the 1920s, the Milshire represents an ideal opportunity for investors looking to do the heavy lifting - transforming this long vacant property through strategic renovation while leveraging the high rents and revenues of this hot Chicago submarket to offset heavy construction costs. With its prime location in Logan Square, one of Chicago's most vibrant neighborhoods, the property is positioned to benefit from Logan Square's continued growth and gentrification.
The asset is well-suited for a comprehensive gut renovation, allowing an investor to control quality, reposition branding, and reintroduce the property to market as a differentiated hospitality offering. Additionally, its location within a TIF-eligible geography creates a strategic pathway to pursue public-private partnership support, strengthening project feasibility and enhancing investor returns. Taken together, the Milshire offers institutional investors the rare opportunity to execute a high-impact repositioning in a proven, supply-constrained neighborhood with strong long-term fundamentals.