174 N Michigan Avenue

174 N Michigan was purchased by L3 Capital and the State Teachers Retirement System of Ohio in a programmatic joint venture in 2015. The building was 40% occupied by three retail tenants at acquisition but was strategically vacated to allow for a future redevelopment. Michigan Avenue south of the River has transformed into a robust thoroughfare connecting to Millennium Park full of retail, residential, hospitality, dining, and entertainment options.  L3 is planning a new 3-story mixed-use retail/office building at this prime location.