The equivariant motivic Chern class of a Schubert cell in a `complete' flag manifold $X=G/B$ is an element in the equivariant K theory ring of $X$ to which one adjoins a formal parameter $y$. In this paper we prove several `folklore results' about the motivic Chern classes, including finding specializations at $y=-1$ and $y=0$; the coefficient of the top power of $y$; how to obtain Chern-Schwartz-MacPherson (CSM) classes as leading terms of motivic classes; divisibility properties of the Schubert expansion of motivic Chern classes. We collect several conjectures about the positivity, unimodality, and log concavity of CSM and motivic Chern classes of Schubert cells, including a conjectural positivity of structure constants of the multiplication of Poincaré duals of CSM classes. In addition, we prove a `star duality' for the motivic Chern classes. We utilize the motivic Chern transformation to define two equivariant variants of the Hirzebruch transformation, which appear naturally in the Grothendieck-Hirzebruch-Riemann-Roch formalism. We utilize the Demazure-Lusztig recursions from the motivic Chern class theory to find similar recursions giving the Hirzebruch classes of Schubert cells, their Poincar{é} duals, and their Segre versions. We explain the functoriality properties needed to extend the results to `partial' flag manifolds $G/P$.