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    111 W Jackson Blvd, Chicago, IL 60604

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    Office and retail spaces with extensive amenities available for rent.

    Type:Retail, Office, Restaurant
    Added:
    May 19, 2023
    Days on Market:
    1086
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 111 W Jackson Blvd

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office, Restaurant

    Building Details

    Year Built
    1960

    Spaces For Lease

    at 111 W Jackson Blvd Contact us

    Suite 300 $20 /Mo

    Size
    24,411 SF
    Type
    Office
    Lofted full floor with existing conditions. Furnished per the plan with a current...
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    Suite 1000 $20 /Mo

    Size
    24,315 SF
    Type
    Office
    Lofted full floor with existing conditions. Furnished per the plan with a current...
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    Suite 1110 $20 /Mo

    Size
    8,589 SF
    Type
    Office
    Existing conditions. Partially furnished, including 52 open area workstations. The...
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    Suite 900 $20 /Mo

    Size
    11,491 SF
    Type
    Office
    Lofted existing conditions. Furnished per the plan with current headcount of 67....
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    Suite 1134 $20 /Mo

    Size
    2,151 SF
    Type
    Office
    Existing conditions. Will deliver fully furnished with existing Building inventory...
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    Suite 1250 $20 /Mo

    Size
    8,519 SF
    Type
    Office
    Lofted spec suite. Furnished per the plan with a current headcount of 45. The building...
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    Suite 1406 $21 /Mo

    Size
    2,577 SF
    Type
    Office
    Lofted spec suite with concrete flooring. The building features an impressive amenity...
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    Suite 1502 $21 /Mo

    Size
    3,823 SF
    Type
    Office
    Contiguous with Suite 1500. Existing conditions. The building features an impressive...
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    Suite 1500 $21 /Mo

    Size
    4,358 SF
    Type
    Office
    Lofted existing conditions with a private shower. Furnished per the plan. The building...
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    Suite 1800 $21 /Mo

    Size
    25,463 SF
    Type
    Office
    Full floor with existing conditions. The building features an impressive amenity...
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    Suite 1901 $21 /Mo

    Size
    14,709 SF
    Type
    Office
    Existing conditions. The building features an impressive amenity offering: fitness...
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    Suite 2000 $21 /Mo

    Size
    25,463 SF
    Type
    Office
    Full floor in whitebox condition. The building features an impressive amenity offering:...
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    Suite 2110 $21 /Mo

    Size
    8,810 SF
    Type
    Office
    Lofted existing conditions. Furnished per the plan with a current headcount of 79....
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    Suite 2230 $21 /Mo

    Size
    4,315 SF
    Type
    Office
    Existing conditions with 8 private offices, conference room (8), reception, kitchen...
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    Suite 2210 $21 /Mo

    Size
    6,806 SF
    Type
    Office
    Lofted spec suite. Furnished per the plan with a current headcount of 33. The building...
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    Suite 2200 $21 /Mo

    Size
    10,783 SF
    Type
    Office
    Lofted existing conditions. Furnished per the plan with a current headcount of 103....
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    Suite 2400 $21 /Mo

    Size
    25,335 SF
    Type
    Office
    Contact us

    Suite 2500 $24 /Mo

    Size
    4,765 SF
    Type
    Office
    Penthouse space in whitebox condition with high lofted ceiling and tall windows....
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    Suite 820 $21 /Mo

    Size
    11,396 SF
    Type
    Office
    $21.00 SF/yr
    Contact us

    Suite 1600 $21 /Mo

    Size
    23,875 SF
    Type
    Office
    $21.00 SF/yr
    Contact us
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    We can help!

    Listing Contact
    Alex Gordon

    Listing agent Alex Gordon License #IL

    Listing office Bradford Allen Realty Services Chicago

    Listing date May 19, 2023

    Source Crexi

    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 Bradford Allen Realty Services Chicago

    HighLights

    • 24‑hour manned security
    • Secure in‑building parking garage
    • Stay active with the on‑site fitness center
    • Enjoy the spacious rooftop deck
    • Conferencing center available
    • Renovated lobby and elevators

    Overview

    This commercial building offers a variety of spaces suitable for office, retail, restaurants, fitness centers, sports, and entertainment businesses. The property boasts an array of amenities, including a fitness center, a spacious rooftop deck, and a tenant lounge equipped with ample seating. Call rooms and huddle rooms are available, along with a conferencing center. The building features climate control, a secure in-building parking garage, a renovated lobby and elevators, and a bike room. Security is provided with 24-hour manned security, and onsite food options are available.
    Location Intelligence

    Current Use by Public Records

    O'Connor & Battle LLP Law Firm Kimley-Horn Engineering Consultant Nichic Corporation General ... Construction Company Advanced Resources Employment Agency Uprising Technology (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • AV Chicago — 619 W Taylor St, Chicago, IL 60607
    • Net-Telligence Group — 1136 S Delano Ct b201, Chicago, IL 60605
    • Service Express, Inc. — 1130 S Wabash Ave #504, Chicago, IL 60605
    • 1-800 Office Solutions - Commercial printer lease, copier repair and Managed IT Services — 1130 S Canal St, Chicago, IL 60607
    • Version office — 1004 S Canal St, Chicago, IL 60607

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6313061
    Latitude
    41.8778571

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    FAQs

    What type of property is this?
    Office property - Office and retail spaces with extensive amenities available for rent.
    Where is this office property located?
    The property is located at 111 W Jackson Blvd Chicago, IL.
    What are key features of this property?
    This property features: 24‑hour manned security; Secure in‑building parking garage; Stay active with the on‑site fitness center
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Alex Gordon
    Real Estate License ID: IL
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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