Michigan Avenue Towers 1 & 2

Investment Overview

1250 & 1400 S. Michigan Avenue offer the opportunity to acquire a 17,477-square-foot storefront retail portfolio with prominent frontage along Michigan Avenue in Chicago’s South Loop. The portfolio is 88% leased, generates an in-place NOI of approx. $584,372, and combines established cash flow with leasing upside. 1400 S. Michigan Avenue is fully leased to Chicago Waffles, Go Grocer, and Mikami Restaurant. all on triple-net leases, with additional income from two (2) communication leases. 1250 S. Michigan Avenue consists of six (6) retail units totaling 9,217 square feet with tenants Jimmy John’s, Luxura Med Spa, Chi Tiva, Polish Me Nails & Spa, and June 1250 Dry Cleaners. The remaining 2,092-square-foot vacancy features value-add potential via lease-up. The Properties are located one (1) block from one another and benefit from a dense, affluent trade area with more than 54,000 residents and an average household income of $158,000 within one (1) mile. The offering includes 26 full spaces and four (4) tandem spaces, all in covered garage.

Investment Highlights

• 88% leased with in-place NOI of $584,372
• 2,092 SF vacancy features value-add potential through lease-up and increasing NOI
• "The 78", approx. 1/2 block to the west, is a $1B development under construction (2028 opening) featuring a 22,000 seat stadium as the future home of the Chicago Fire
• Prominent Michigan Avenue frontage within a dense, affluent trade area
• 30 covered spaces included with the sale