Property Details

2036 S Michigan

$32,995,000

2036 S Michigan, Chicago

147 Beds 126 Baths 1 Garages

Description

2036 S Michigan OM

2014-2036 S Michigan Ave, the former Studebaker showroom, is located in the South Loop on Chicago’s historic Motor Row. A large portion of the building was converted into 68 brand new apartment units in 2016. Beautiful, brand new, high ceiling lofts with top finishes that include quartz counter-tops, stainless steel appliances, marble bathrooms, and high-end cabinetry throughout. These units are extremely spacious with large windows and have plenty of room for rent increases based on market standards. They are 95% leased with applications pending on the remaining units. The lobby was recently renovated and there is also a full-size gym available for the residents. The 1st floor retail spaces are all brand new build outs and fully leased. The 2nd floor commercial space was given a common corridor with brand new bathrooms. This floor offers open loft space with the potential to house a variation of tenants. There is a parking lot adjacent to the property that offers on-site parking for tenants and provides extra income for the owner.

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