A Michigan Avenue parcel and non-descript building, which only months ago was home to an intact half-block of buildings, is currently for sale. The Knoer Group has listed the remaining building at 151 East Eagle Street for sale with a $485,000 asking price, which includes the site of the buildings demolished earlier this year along Michigan Avenue. The remnant building is 11,000 square feet and boasts a “shovel ready site” (stone lot) right next door.
According to the demo application to the Preservation Board by owner Crestline Development, the buildings needed to be demolished to assess the reuse and condition of 151 East Eagle:
The buildings at 390-402 Michigan have not been occupied since prior to the current owners taking ownership. This entire block is being redeveloped with the completion of the AC Lofts Project. Crestline would like to develop the stable structure at 151-153 East Eagle but the deteriorating buildings at 390-402 Michigan are preventing an analysis and comprehensive plan being formulated. The City has cited the properties as unsafe. Crestline is looking to remove the buildings along Michigan so that a final plan for the 151-152 East Eagle building can be finalized.
The vacant land will be integrated into the redevelopment of 151-153 East Eagle.
Now that the remaining building has come onto the market, it begs the question, did this intact block of buildings need to come down or was it just to facilitate a quick sale by providing abundant parking in an area of downtown that’s more parking than buildings?
Michigan Avenue Streetscape, Pre-Demo
Post-Demo