OFF MARKET – CONFIDENTIAL: Rare opportunity to purchase this historic Holabird & Roche designed three story building. Originally built in 1909 for the Quality Car Company, this building served as a showroom for the Premier and Moline car brands in Chicago’s booming Motor Row. This 15,240 SF building is located in a designated opportunity zone and a Chicago TIF district. The building was partially renovated in 2008 with a new front and rear stairwell and a new passenger elevator. The first floor is built out as a physician’s office with a 5-car heated garage located in the rear. The second and third floors have 15-foot ceilings and are wide open raw spaces with bright and expansive floor to ceiling windows overlooking Michigan Avenue. The rear of the building still has the old automotive elevator that brought cars down to the glamorous showrooms from the second and third floor. The building also had a new roof installed in 2019. Located in the heart of the Motor Row and McCormick Place Entertainment District, the building is zoned DS-5 “Downtown Service District” and the permitted business uses are extensive. The zoning also allows for a F.A.R. of 5 which translates into a permissible building size of almost 28,000 SF. Potential option to build up and add an impressive roof deck with stunning views overlooking Downtown, the Lake and McCormick Place. This is a perfect investment for an opportunity zone fund and needs “substantial improvement” and upgrades to make it a remarkable fixture in this hot and rapidly evolving neighborhood. Do not miss this opportunity to purchase arguably one of the best opportunity zone properties available in the country.
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Office Space
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