$2,600,000
1233 S Wabash Avenue Chicago, IL 60605
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$2,600,000
Est. payment /mo
9,975 SqFt
Active
1233 S Wabash Avenue Chicago, IL 60605
UPDATED:
10/18/2024 05:06 AM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 9,975 sqft
Price per Sqft $260
MLS Listing ID 12185504
Year Built 1910
Annual Tax Amount $23,667
Tax Year 2023
Lot Dimensions PER SURVEY
Property Description
Invest in the vibrant South Loop /Museum Campus area. Walk to Grant Park, Soldier field, Museums and the famous " Bean" sculpture in Millennium Park, boasting 5 million visitors a year. Incredible opportunity to acquire a historic bar/restaurant building with air rights. Located at the busy Wabash & Roosevelt intersection, with an L stop only a block away. This building has been the location of the local favorite "Wabash Tap" with the historically significance of formerly being the famous Blues singer Koko Taylor's blues club. The 4,275 SF ground floor is a 2nd generation bar/restaurant with substantial infrastructure and equipment for a new operator. The upper two floors could be re-positioned as either apartments or office space. DX-7 zoning allows for a complete re-development of up to +/- 30,000 buildable SF and is located in a Transit-Oriented Development (TOD) area allowing for reduced/limited parking. The site has potential for residential, mixed-use, hotel/hospitality, office, or retail/restaurant development. One of the busiest locations in Chicago, the property is one block from the Roosevelt CTA station, which boasts over 3.8 million riders annually. Offered for sale, The ground floor restaurant space is also available for lease . Owner would also consider leasing out the 2nd and 3rd floor at a reasonable lease rate.
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling Central Individual
Fireplace N
Exterior
View Y/N true
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Listed by Wendy Kiang • Baird & Warner
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Patrick Clarke
Broker | License ID: 471.007683