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2241 S Wabash Avenue, Chicago, IL 60616
$4,250,000
2241 S Wabash Avenue, Chicago, IL 60616View this property at 2241 S Wabash Avenue, Chicago, IL 60616
2241 S Wabash AvenueChicagoIL60616
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Property Description
Just south of the South Loop of Chicago, this exceptional mixed-use commercial property in the Motor Row neighborhood of Chicago. This building's striking exterior design and its timeless architecture make it standout among other commercial properties in the area. The spacious three-level layout with soaring timber ceiling heights of 16' on the 2nd and 3rd floors with exposed brick, and 17' for the garage with a drive in door, complete with a full basement, totaling an impressive 39,900 square feet, with just about 10,000 SF per floor, 400 AMP electrical service per floor and a freight elevator. Situated in a TIF district and an opportunity zone, presents a unique chance for investors seeking tax incentives, capital improvements and long-term growth potential. The 3rd floor provides the perfect canvas for creating versatile and functional workspaces, complete with 1 office, a conference room with a skylight, a kitchenette and 2 dedicated restrooms. The 2nd floor has an impeccably designed interior that exudes professionalism and modernity with enclosed glass offices, 1-2 large conference rooms, 7-8 private offices, center open floorplan, reception area, media/conference room adjacent to the open office, IT room, storage room, 2 large dedicated restrooms, the kitchen is a dream. The main level consists of front retail/offices, garage in the rear of the building with 17-19 surface spaces, a drive in door, warehouse area, and a full locker room area, and the full basement offers full ceiling height space for storage, equipment, or expansion, allowing your business to grow and adapt as needed. This office building offers an incredible opportunity to be near McCormick Place, major transportation routes are easily accessible, ensuring effortless commuting for employees and clients via McCormick Place Green Line Station, bus routes, Interstates 55, 90, and Route 41-Lake Shore Drive. Surrounding this property, you'll find an array of amenities that cater to the needs of your business and employees. From a variety of dining options to retail shops and entertainment venues, the vibrant city of Chicago, offering a wealth of cultural experiences, world-class dining, and an energetic arts scene.
Full Property Details
Full Property Details for 2241 S Wabash Ave
General
- Price: $4,250,000
- Taxes: $236,726 (2021)
- Status: Active
- Type: Commercial
- MLS ID: 11919778
- Updated: 11/6/2023
- Added to Site: 186 day(s) ago
Interior
- Interior Features: Computer Floor, Employee Kitchen, Passenger Elevator(s), Multi-Tenant, Overhead Door(s), Private Restroom(s), Public Restroom(s), Skylight(s), Storage Inside, Basement
- Flooring: Carpet, Concrete, Wood
Additional Information
- Security/Safety: Sprinklers (Wet)
Parking
- Total Spaces: 19
- Parking Features: Parking-Street
Location
- Area: CHI - Near South Side
- County: Cook
- Township: South Chicago
- Driving Directions: north/south on State to Cermak, east to Wabash, south to property.
- Location Details: Downtown Chicago, Public Transport Avail
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Central Building Heat, None
Utilities
- Trash: 1140
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Foundation: Concrete Perimeter
- Roof: Rubber
- Sub-Flooring: Carpet, Concrete, Wood
- Stories/Levels: 3
- Square Feet: 39,900
- Current Bldg. Use: Commercial, Office
- # of Stores: 2
- Year Built: 1915
- Built Before 1978: Yes
Lot Features
- Lot Size (Sq. Ft.): 11,520
- Lot Dimensions: 60 x 192
- Potential Use: Commercial, Office and Research, Retail
- Zoning: COMMR
Financial Considerations
- Lease Price: $24
- Insurance Fee: $8,000
- Security Deposit: Sprinklers-Wet
- Assessment Year: 1915
- Tax Amount: $236,726
- Tax Year: 2021
- Tenant Pays: Air Conditioning, Common Area Maintenance, Electricity, Heat, Taxes, Insurance
- Pays Trash: 1140
Disclosures and Reports
- Property ID: 17271010210000
Listed by Century 21 S.G.R., Inc.
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Schools
Schools serving 2241 S Wabash Ave
School District:Chicago Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
55 W Cermak Rd, Chicago, IL 60616 | PK-8 | 0.2 mi | |
244 E Pershing Rd, Chicago, IL 60653 | 9-12 | 1.9 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 2241 S Wabash Ave
Date
Details
Price
Change
Source
10/30/2023
Listed
$4,250,000
174.19%
MLS
9/06/2001
Sold
$1,550,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 2241 S Wabash Ave
Year
Property Taxes
Change
Tax Assessment
Change
2022
$223,771
-5%
$1,084,555
-8%
2021
$236,726
73%
$1,173,702
91%
2020
$136,883
11%
$614,462
—
2019
$123,453
2%
$614,462
1%
2018
$120,496
120%
$610,000
140%
2017
$54,794
190%
$254,536
170%
2016
$18,864
-12%
$94,183
-19%
2015
$21,356
-34%
$116,541
-33%
2014
$32,493
2%
$175,126
—
2013
$31,851
126%
$175,126
123%
2012
$14,069
—
$78,404
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 2241 S Wabash Ave
2241 S Wabash Avenue, Chicago, IL 60616 (MLS# 11919778) is a Commercial property. 2241 S Wabash Avenue is currently listed for $4,250,000 and was received on October 30, 2023. Want to learn more about 2241 S Wabash Avenue? Do you have questions about finding other Commercial real estate for sale in Near South Side? You can browse all Near South Side real estate or contact a Coldwell Banker agent to request more information.