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Starbucks & Chase Anchored Urban Transit Retail

Starbucks & Chase Anchored Urban Transit Retail

151 North Michigan Avenue
Chicago, Illinois


price: $3,418,567

gla: 16,072 SF

cap: 8.12%

lot: 1.15 Acres

built: 2005*

noi: $277,588

  • Located Within Millennium Station | Restaurant and Shops Catering to the Metra Electric Line and the South Shore Line | Over 11.7 Million Annual Riders, Daily that Equates to 32,054 Commuters
  • A Part of Chicago’s Underground Pedway | Links More Than 40 Blocks
  • *$22 Million Dollar Renovation in 2005
  • Nine Out of the 12 Tenants have Annual Rental Increases | Other Tenants have 10 Percent Increases Every Five Years
  • Significant Hedge Against Inflation | The Majority of the Tenants have Annual Rental Increases
  • One of the Top Performing Starbucks in Chicago
  • Very Low Management
  • 32,700 Pedestrian Foot Traffic at the Corner of Randolph and Michigan (Chicago’s Downtown Pedestrian Count Study)
  • Situated in Chicago’s Official Downtown, “The Loop” | Home to World-Renowned Arts, Attractions and Entertainment
  • Population is Anticipated to Increase by 19 Percent by 2021 Within a Half Mile
  • Affluent Area | Average Household Income is $148,946 Within a Half Mile
  • Prime Location at the Cusp of a Tourist Destination – Millennium Park, Maggie Daley Park, and Grant Park
  • Strong Workforce | 540,624 Employees Within a Mile
  • A Major Tourist Area | Over 55 Million People Visit Chicago a Year
  • Over Three Million Pedestrians in the Chicago Loop and Increasingly Higher on Weekends at the Edge of the Loop ( Chicago’s Pedestrian Traffic Count Study)
  • Located at the Corner of Randolph Street and Michigan Avenue | Combined 50,800 Vehicles per Day
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Sean Sharko
Senior Vice President Investments

Tel: (630) 570-2238
Sean.Sharko@marcusmillichap.com
 
* Broker of Record: Steven Weinstock