312-338-7866
70 E Lake St, Chicago, IL for Sale
Office - FOR SALE
1/15
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70 E Lake St
Chicago, IL 60601
New East Side


HIGHLIGHTS

  • Highly Differentiated Gothic Revival Building with Attractive Conversion Flexibility
  • Central Downtown Chicago Location with Unmatched Accessibility
  • Street-Level Retail Diversifies Income & Offers Significant Upside
  • Significant Ongoing Development in the Immediate Area
  • Historic & Cultural Significance: A Chicago Legacy

OVERVIEW

Cushman & Wakefield, Inc. has been retained as the exclusive advisor and agent to offer for sale the 100% fee simple interest in 70 East Lake (the “Property”), a 17-story office and retail building totaling 141,593 square feet currently 63.1% leased. The Property is located mid-block between North Wabash Avenue and North Michigan Avenue in Chicago’s East Loop neighborhood and includes street-level retail frontage along Lake Street, less than a half block from the “Magnificent Mile.” Constructed in 1927, the Building reflects late-1920s Chicago architecture, combining elements of the Chicago School with Gothic Revival and early Art Deco influences, including strong vertical massing, articulated window groupings, and ornamental detailing that give the Property a distinctive and enduring presence. 70 East Lake offers meaningful long-term upside through a conversion to multifamily, mixed-use residential or hospitality uses. The Building’s historic construction, narrow floor plates, abundant window lines, and vertical configuration align with the characteristics commonly sought in successful office-to-residential conversions. Additionally, all but two tenants have landlord termination rights providing further conversion flexibility. Combined with its premier East Loop location—steps from transit, employment centers, cultural institutions, and Michigan Avenue—the Property presents a compelling opportunity to reposition a legacy asset into differentiated residential product.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Seventy East Lake

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

17

BUILDING CLASS

C

YEAR BUILT

1927

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

DX-16

APN/PARCEL ID

17-10-303-020-0000

ASK ABOUT THIS PROPERTY

Thomas SitzCushman & WakefieldMore Info
312-338-7866

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Thomas SitzCushman & WakefieldMore Info
312-338-7866

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.