Chicago Garage on the Block


Chicago Garage on the Block

The value of parking garages, particularly in downtown cores, seems to be skyrocketing. 201 Madison in Chicago’s loop, is on the block for upwards of $120,000,000, That’s over $102,000 a space. The garage is 10 years old and was bought by a consortium including John Hammerschlag, for $52,000,000 five years ago. John told Crain’s Chicago Business that his group is in no hurry to sell.

This facility has value — its pay on foot, has some long term tenants on the ground floor, and can be expanded another three stories with parking or commercial/condos.  I think even at the the $120 million price its a good deal for long term investment. Central Chicago parking facilities fill daily during the week, and there just isn’t a lot of dirt left in the area for more garages.


John Van Horn

John Van Horn

Leave a Reply

Your email address will not be published. Required fields are marked *

Only show results from:

Recent Posts

A Note from a Friend

I received this from John Clancy. Now retired, John worked in the technology side of the industry for decades. I don’t think this needs any

Read More »

Look out the Window

If there is any advice I can give it’s concerning the passing scene. “Look out the window.” Rather than listen to CNN or the New

Read More »


See all Blog Posts

Send message to

    We use cookies to monitor our website and support our customers. View our Privacy Policy