Move-In Ready Medical Office
111 N Wabash Ave Chicago, IL 60602
For Sale
Contact for pricing
Move-in ready suite with extensive plumbing and power infrastructure for medical, aesthetic, or wellness use.
Property Size2,875 SF
Price / SF$273.04
Days on Market163
Property Features for 111 N Wabash Ave
General Information
Standard status
Active
Size
2,875 SF
Property subtype
OFFICE
Listing Agency:
Joseph Rossi & Associates, Inc (JRA) - Corporate
(630) 768-6769
Listed By:
Dominic Rossi III
(630) 768-6769
Source:
Moodyscre
Added: Feb 16
Changed: Jul 28
Last Checked: Jul 28 at 8:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Joseph Rossi & Associates, Inc (JRA) - Corporate
Investment Insights
Based on property information with market context.
This move-in ready medical office suite is fully equipped with extensive plumbing and power infrastructure, designed to support a range of medical, aesthetic, or wellness uses. The space is positioned for straightforward occupancy and operation, with a configuration intended to provide a seamless transition for an incoming operator.
The Garland Building is located just steps from Michigan Avenue, Millennium Park, and the Chicago lakefront, placing it near dining, retail, and public transportation options.
As part of a historic, well-maintained property, the suite offers an established setting for healthcare and medspa professionals seeking convenience and day-to-day accessibility.
The Garland Building is located just steps from Michigan Avenue, Millennium Park, and the Chicago lakefront, placing it near dining, retail, and public transportation options.
As part of a historic, well-maintained property, the suite offers an established setting for healthcare and medspa professionals seeking convenience and day-to-day accessibility.
Key Highlights
- Move‑in ready suite with extensive plumbing and power infrastructure
- Designed for a wide range of medical, aesthetic, or wellness uses
- Located steps from Michigan Avenue, Millennium Park, and the Chicago lakefront
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $110.4k | $38.40 |
| − Vacancy | −$28.2k | −$9.79 |
| EGI | $82.2k | $28.61 |
| − OpEx | −$20.6k | −$7.15 |
| NOI | $61.7k | $21.46 |
2,875 SF · lease $38.40/SF/yr · vacancy 25.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$881.2K
$771.1K – $1.03M
NOI $61,686 @ 7.0% cap · market cap 7.86%
Second Best
Healthcare Medical
$544.1K
$476.1K – $634.8K
NOI $38,088 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$1.36M
$1.19M – $1.58M
NOI $94,889 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Heartland Veterinary Partners — 10 South LaSalle, Suite 2120, Chicago, IL 60603
- Partners Animal Hospital South Loop — 550 S Dearborn St, Chicago, IL 60605
- Veterinarian Services — 209 S La Salle St, Chicago, IL 60604
- K9 Bytes, Inc. — 205 W Wacker Dr STE 1320, Chicago, IL 60606
- American Veterinary Med Associates — 55 E Jackson Blvd # 700, Chicago, IL 60604
Frequently Asked Questions
What type of property is this?
Medical Office Space - Move-in ready suite with extensive plumbing and power infrastructure for medical, aesthetic, or wellness use.
Where is this medical office space located?
The property is located at 111 N Wabash Ave Chicago, IL.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Move‑in ready suite with extensive plumbing and power infrastructure; Designed for a wide range of medical, aesthetic, or wellness uses; Located steps from Michigan Avenue, Millennium Park, and the Chicago lakefront
