Freestanding Office
1133 W Van Buren St, Chicago, IL 60607
For Sale
$2,995,000
Renovated and furnished across two stories, the property accommodates office, medical, or retail use.
Property Size7,500 SF
Lot Size0.14 Acres
Price / SF$399.33
Days on Market21
Property Features for 1133 W Van Buren St
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Space & Availability
Condition
Furnished
Site & Location
Neighborhood
Frontage
Corner Location
Public Transit
Additional Details
Property Use
Amenities
15 private offices
conference areas
full kitchen
warehouse space
loading doors
signage
Building Details
Year Built
Buildings
Stories
Listing Agency:
Fulton Grace Realty
Listed By:
Lauren Lampert
Source:
Illianahomesource
Added: Oct 20
Changed: Nov 8
Last Checked: Nov 8 at 6:49AM
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 Fulton Grace Realty
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Investment Insights
Based on property information with market context.
This freestanding, two-story building was renovated and is offered furnished. Its existing layout includes 15 private offices, multiple conference areas, a full kitchen, and more than 1,000 SF of warehouse space with loading doors. The property is suited to office, medical, or retail use and includes a private lot with seven parking spaces.
At the southeast corner of Van Buren and Racine in Chicago’s West Loop, the building has approximately 154 feet of frontage on Van Buren. Building signage is visible from I-290, which carries more than 200,000 vehicles per day. Public transit is steps away, with West Loop restaurants, cafes, and businesses nearby. The zoning allows cannabis use.
At the southeast corner of Van Buren and Racine in Chicago’s West Loop, the building has approximately 154 feet of frontage on Van Buren. Building signage is visible from I-290, which carries more than 200,000 vehicles per day. Public transit is steps away, with West Loop restaurants, cafes, and businesses nearby. The zoning allows cannabis use.
Key Highlights
- 15 private offices, conference areas, and a full kitchen
- More than 1,000 SF of warehouse space with loading doors
- Approximately 154 feet of frontage on Van Buren
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$160,920
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,218,400
$3.2M
Cap Rate 7%
$2,298,857
$2.3M
Cap Rate 9%
$1,788,000
$1.8M
Market Conditions
NOI Build-Up for 7,500 SF
Gross rent
$288.0K $38.40/SF
− Vacancy
−$73.4K −$9.79/SF
EGI
$214.6K $28.61/SF
− OpEx
−$53.6K −$7.15/SF
NOI
$160.9K $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%
$3,218,400
Cap Rate 7%
$2,298,857
Cap Rate 9%
$1,788,000
Alternative Uses
Best Use
Office B
$2.30M
$2.01M – $2.68M
NOI $160,920 @ 7.0% cap · market cap 5.37%
Second Best
Retail
$1.48M
$1.30M – $1.73M
NOI $103,761 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$3.54M
$3.09M – $4.13M
NOI $247,536 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
5,578
Businesses Nearby
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Business Placement
Demographics for 60607, IL
31,816
Population
16,540
Households
1.9
Avg Household Size
31
Median Age
81%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
13,833
Density / Sq Mi
$126,307
Median Household Income
$79,870
Median Earnings
$2,333
Median Rent
$494,300
Median Home Value
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Market
Properties on Market for Office buildings in Chicago
Vacancy Rate% for Office in Chicago, IL
Frequently Asked Questions
What type of property is this?
Office building - Renovated and furnished across two stories, the property accommodates office, medical, or retail use.
Where is this office building located?
The property is located at 1133 W Van Buren St Chicago, IL.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: 15 private offices, conference areas, and a full kitchen; More than 1,000 SF of warehouse space with loading doors; Approximately 154 feet of frontage on Van Buren
