This conversion opportunity consists of a two-level, 112,251 square foot structure that sits at the base of the 400 East Randolph tower in the Lake Shore East neighborhood of Chicago. One of Chicago’s largest master planned developments, Lakeshore East hosts a large and affluent community with more than 64,000 people within a one-mile radius and a median household income of $127,229.
There is only one facility within the 1-mile trade area and no known active storage developments. This densely populated pocket of Chicago lacks any reasonable storage options for its community members. Zoned PD-70, city zoning explicitly allows for self-storage as of right, along with other permissible uses. Currently serving as a two-story, 407-space parking garage, this site provides the optimal shell for a conversion to self-storage. The site provides tenants drive-in access, internal parking, and multiple loading areas. Take advantage of this rare opportunity to redevelop this 112,251 square foot parking garage into a drive-in climate controlled self-storage in the heart of downtown Chicago.