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Chicago Parking Garage Hits Market | Real Estate News
Centrum Realty is selling a prime Streeterville parking garage at 240 E. Illinois St., with initial bids rumored around $15 million for its 313 spaces — a rare rebound in the post-pandemic parking market. While demand dipped during lockdowns, downtown office vacancy rates have edged down slightly since 2022, thanks to office-to-apartment conversions, though foot traffic remains 45% below pre-pandemic levels. The property’s location near the Chicago River, theaters, and cultural attractions makes it ideal for transient parkers. This isn’t the first big deal: last summer, a Canadian firm bought…
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