Retail

Retail in Chicago, IL

540 michigan avenue, chicago, IL 60611

Price

Price on request

Description

The Best Corner on North Michigan Avenue New ownership and representation (CBRE) The best flagship opportunity in Chicago +5 million pedestrians and vehicles pass by the site monthly Flexible demising options, spaces rancing from +6k to +41k One of a kind branding opportunity

Property description as provided by the listing source. PropZone adds independent market context, valuation estimates, and comparable listings.

Location

540 michigan avenue, chicago, IL 60611

Leaflet © OpenStreetMap contributors

Market Context

As of Q1 2026, the Chicago retail market showed average asking rents near $22.27/SF/yr, and cap rates around 8.2%. Source: multiple brokerages Q1 2026 market report.

Projected current pricing

low confidence

Projected asking rent

$22.27/SF/yr

Estimated sale value

$162–$205/SF

Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 multiple brokerages data (cap rate 8.2%, asking rent held flat).

View the full Chicago Retail market report →

Compare it against other retail listings for sale in Chicago, IL to benchmark pricing and space — view the full market.