1110 South Oakley Boulevard, Chicago, IL 60612

Located in Chicago’s Tri-Taylor neighborhood, 1110 South Oakley Boulevard is a fully leased government property investment. The three-story building has ±30,000 square feet of space and is fully leased to the Illinois Department of Corrections, which uses it as its headquarters office. The tenant has occupied the property for over 25 years, due to its proximity to correctional facilities and courts. The property is centrally located for the Illinois Department of Corrections. The State of Illinois (Department of Corrections) has an A- S&P Global Credit Rating. The tenant requires a standalone building, making this an ideal headquarters site. The current rent for the tenant is below the South Chicago sub-market rent of $30.50 per square foot. The tenant is on their 5th lease renewal. The South Chicago office submarket has a vacancy rate of 4.5% as of the first quarter of 2026. Over the past year, the submarket’s vacancy rate has changed by -0.2%, a result of 47,000 SF of net delivered space and 120,000 SF of net absorption. South Chicago’s vacancy rate of 4.5% compares to the submarket’s five-year average of 4.4% and the 10-year average of 5.1%. Overall submarket vacancy is forecast to end 2026 at 4.0%. The South Chicago office submarket has roughly 990,000 SF of space listed as available, for an availability rate of 5.2%. As of the first quarter of 2026, there is 61,000 SF of office space under construction in South Chicago. South Chicago contains 18.8 million SF of inventory, compared to 496 million SF of inventory metro wide. Average rents in South Chicago are roughly $30.00/SF, compared to the wider Chicago market average of $29.00/SF. Rents have changed by 0.0% year over year in South Chicago, compared to a change of -0.1% metro wide. Overall annual rent growth in the South Chicago office submarket is forecast to end 2026 at 2.6% compared to the Chicago average of 1.1%.