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Seventy East Lake 70 E Lake St 141 593 pi² 100% Loué Bureau Immeuble Chicago, IL 60601 À vendre

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Faits saillants de l'investissement

Highly Differentiated Gothic Revival Building with Attractive Conversion Flexibility
Street-Level Retail Diversifies Income & Offers Significant Upside
Historic & Cultural Significance: A Chicago Legacy

Central Downtown Chicago Location with Unmatched Accessibility
Significant Ongoing Development in the Immediate Area

Résumé de l'annonce

Cushman & Wakefield, Inc. has been retained as the exclusive advisor and agent to offer for sale the 100% fee simple interest in 70 East Lake (the “Property”), a 17-story office and retail building totaling 141,593 square feet currently 63.1% leased. The Property is located mid-block between North Wabash Avenue and North Michigan Avenue in Chicago’s East Loop neighborhood and includes street-level retail frontage along Lake Street, less than a half block from the “Magnificent Mile.” Constructed in 1927, the Building reflects late-1920s Chicago architecture, combining elements of the Chicago School with Gothic Revival and early Art Deco influences, including strong vertical massing, articulated window groupings, and ornamental detailing that give the Property a distinctive and enduring presence.

70 East Lake offers meaningful long-term upside through a conversion to multifamily, mixed-use residential or hospitality uses. The Building’s historic construction, narrow floor plates, abundant window lines, and vertical configuration align with the characteristics commonly sought in successful office-to-residential conversions. Additionally, all but two tenants have landlord termination rights providing further conversion flexibility. Combined with its premier East Loop location—steps from transit, employment centers, cultural institutions, and Michigan Avenue—the Property presents a compelling opportunity to reposition a legacy asset into differentiated residential product.