One-Story Corner Office
For Sale
$1,399,000
210 S Desplaines Street, Chicago, IL 60661
COMMERCIAL - Chicago, IL
Property Size4,000 SF
Lot Size0.09 Acres
Price / SF$349.75
Days on Market42
Property Features for 210 S Desplaines Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OFFIC
Directions
SW corner of Desplaines & Adams. Entrance on Desplaines St. in the West Loop.
Subdivision
CHI - Near West Side
Standard status
Active
APN
17161090300000
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
96418
Utilities
Cooling system
Central Air
Amenities
private offices
executive office
conference room
kitchenette
break area
workstations
Building Details
Year built
1913
Floors in Building
1
Number of units
1
Flooring type
Wood
Building materials
Brick
Listing Agency:
MUV Real Estate
(312) 900-3429
Listed By:
Jesse Nocon
(312) 599-6505
Added: Jul 9
Changed: Aug 4
Last Checked: Aug 19 at 8:06AM
MLS# 12700975
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
One-story corner commercial office space offering three private offices, one executive office, a conference room, kitchenette and break area, and approximately four workstations. The layout is designed to support day-to-day office operations within a contained suite.
The property includes a street entrance and includes two indoor garage parking spaces, with additional parking spaces also noted as available (13 total). The listing also indicates the space can be combined with an adjacent 8,000 SF unit to accommodate a wider range of business needs.
The property is zoned OFFIC and is presented for sale or lease.
The property includes a street entrance and includes two indoor garage parking spaces, with additional parking spaces also noted as available (13 total). The listing also indicates the space can be combined with an adjacent 8,000 SF unit to accommodate a wider range of business needs.
The property is zoned OFFIC and is presented for sale or lease.
Key Highlights
- West Loop one‑story corner commercial space for sale or lease with a street entrance
- Includes 3 private offices plus 1 executive office, 1 conference room, and a kitchenette/break area
- 4,000 SF space with approximately 4 workstations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$85,824
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,716,480
$1.7M
Cap Rate 7%
$1,226,057
$1.2M
Cap Rate 9%
$953,600
$953.6K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$153.6K $38.40/SF
− Vacancy
−$39.2K −$9.79/SF
EGI
$114.4K $28.61/SF
− OpEx
−$28.6K −$7.15/SF
NOI
$85.8K $21.46/SF
Area
Chicago, IL
Vacancy
25.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,716,480
Cap Rate 7%
$1,226,057
Cap Rate 9%
$953,600
Alternative Uses
Best Use
Office B
$1.23M
$1.07M – $1.43M
NOI $85,824 @ 7.0% cap · market cap 6.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,019 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
15,560
Businesses Nearby
Explore this area
Business Placement
Demographics for 60661, IL
11,987
Population
8,049
Households
1.5
Avg Household Size
32
Median Age
88%
College-Educated
99%
High-School Grad
0.3 sq mi
ZIP Area
39,957
Density / Sq Mi
$138,831
Median Household Income
$105,935
Median Earnings
$2,403
Median Rent
$397,700
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office suite with street entrance and multiple private offices, conference room, kitchenette, and break area.
Where is this office units located?
The property is located at 210 S Desplaines Street Chicago, IL.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: West Loop one‑story corner commercial space for sale or lease with a street entrance; Includes 3 private offices plus 1 executive office, 1 conference room, and a kitchenette/break area; 4,000 SF space with approximately 4 workstations
