Medical Suite in Chicago
For Sale
$675,000
111 N Wabash Ste 1810, Chicago, IL 60602
Turn-key medical suite in the heart of Chicago's Loop.
Property Size259,000 SF
Price / SF$234.78
Days on Market160
Property Features for 111 N Wabash Ste 1810
General Information
Standard status
Active
Size
259,000 SF
Total Parking Spaces
2
Property subtype
Office
Site & Location
Neighborhood
Loop
Building Details
Building Size
259,000 SF
Listing Agency:
Joseph Rossi & Associates, Inc (JRA) - Corporate
Listed By:
Dominic Rossi III · License #475156976
(630) 768-6769
Source:
Jrossiandassociates
Added: May 19
Changed: Oct 23
Last Checked: Oct 24 at 1:52PM
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
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Investment Insights
Based on property information with market context.
Located in the heart of Chicago’s Loop, this medical suite is situated within the Garland Building. The 11,000 square-foot space is fully built-out and divided into a primary care clinic and a fully equipped imaging center. It offers a turn-key environment suitable for healthcare users seeking a high-acuity setting. The layout allows for immediate occupancy or flexible reconfiguration.
Key Highlights
- Fully built‑out medical suite, ready for immediate occupancy.
- Located in the heart of Chicago's Loop.
- Includes both a primary care clinic and a fully equipped imaging center.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,686
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,233,720
$1.2M
Cap Rate 7%
$881,229
$881.2K
Cap Rate 9%
$685,400
$685.4K
Market Conditions
NOI Build-Up for 2,875 SF
Gross rent
$110.4K $38.40/SF
− Vacancy
−$28.2K −$9.79/SF
EGI
$82.2K $28.61/SF
− OpEx
−$20.6K −$7.15/SF
NOI
$61.7K $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 Rate 5%
$1,233,720
Cap Rate 7%
$881,229
Cap Rate 9%
$685,400
Alternative Uses
Best Use
Office B
$881.2K
$771.1K – $1.03M
NOI $61,686 @ 7.0% cap · market cap 9.14%
Second Best
Healthcare Medical
$544.1K
$476.1K – $634.8K
NOI $38,088 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$1.36M
$1.19M – $1.58M
NOI $94,889 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
39,284
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60602, IL
1,261
Population
551
Households
2.3
Avg Household Size
39
Median Age
49%
College-Educated
97%
High-School Grad
0.1 sq mi
ZIP Area
12,610
Density / Sq Mi
$123,047
Median Household Income
$43,500
Median Earnings
$2,775
Median Rent
$383,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Turn-key medical suite in the heart of Chicago's Loop.
Where is this medical office space located?
The property is located at 111 N Wabash Ste 1810 Chicago, IL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Fully built‑out medical suite, ready for immediate occupancy.; Located in the heart of Chicago's Loop.; Includes both a primary care clinic and a fully equipped imaging center.
