More Mixed-Use Coming to Historic Motor Row

The historic Motor Row showrooms along Michigan Ave. seem well-suited for use as a new entertainment district.

CHICAGO—As developers continue launching new apartment projects near downtown, mixed-use developments that satisfy residents’ growing demand for entertainment and retail are cropping as well. The South Loop has become one of the hottest submarkets, and that’s giving new life to some of its historic structures.

Commercial real estate investment banking firm Continental Partners recently secured a bridge loan on behalf of KCI Co., a private investor, for the acquisition of a 115,000 square-foot industrial building at 2222 S. Michigan Ave. along the South Loop’s landmark Motor Row. The new owner plans to reposition the former auto showroom into a class A, mixed-use property, according to Eugene Rutenberg, director at Continental Partners.