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Over $500k price reduction!!! Incredible opportunity to acquire a historic bar/restaurant building with substantial air rights in the middle of Chicago's vibrant South Loop/Roosevelt Road corridor. Located at the high-profile Wabash & Roosevelt intersection, this approx. 9,975 SF building was the long time home of the Wabash Tap, and previously was 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 now at $1,875,000. The ground floor restaurant space is also available for lease at $35/sf NNN.

Property Details of 1233 South Wabash Avenue

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Listed by Wayne Caplan of Sperry Van Ness

Based on information submitted to MRED  as of October 16, 2021 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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