Kiser Group lists 2036 S. Michigan Avenue, a mixed-use development in Chicago’s South Loop, for $32.5 million. The listing is being marketed by Kiser Group Partners Noah Birk and Aaron Sklar and Principal and Managing Broker Lee Kiser.
“An investment at 2036 S. Michigan Avenue is a once in a decade opportunity and includes a compelling cap rate, value-add potential, and immediate scale in Chicago’s booming South Loop neighborhood,” said Partner Noah Birk. “With its proximity to major thoroughfares and McCormick Place, residents and commercial tenants enjoy having a marquee Michigan Avenue address, an easy commute throughout the city and ample restaurants, fitness centers and retail within walking distance.”
Located on the historic Motor Row, this property was entirely renovated from 2016 to 2017. Comprising 68 residential units, the residential unit mix includes 16 three-bedroom/two-bathroom units, 47 two-bedroom/two-bathroom units, and 5 studios. All residential units are condo quality and boast high ceilings, quartz countertops, stainless appliances, marble bathrooms, and fine cabinetry. The first and second floors include 55,000 square feet of retail and office space currently demised into 23 spaces.
“The South Loop location will attract interest from local, out-of-state, and international investors. All corners of the South Loop are experiencing a surge in development from apartment to hotel to retail. Investing now in 2036 S. Michigan secures a presence in the South Loop on south Michigan Avenue that will improve over time as development continues in the neighborhood,” said Partner Aaron Sklar.