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    111 N Wabash Avenue 1114-1116 Chicago, IL 60602

    Sponsored
    Source: https://www.cbcworldwide.com
    For Sale
    $2,310,000

    259,000 SF 2 Units Portfolio For Sale

    Property size:
    259,000 SF

    Description

    Added:
    Apr 9, 2025
    Days on Market:
    272
    Don't miss this investment opportunity in the iconic and historic Garland building. This is a great 1031 exchange opportunity. The portfolio consists of 2 units that are diversified under 2 separate leases/tenants. This is an armchair investment with maintenance taken care of by the HOA and by the tenants. The portfolio is positioned to trade at a 6.73 cap rate at the list price. With predetermined rent escalations built into the leases the return will increase over time. The tenants are well established medical businesses with significant lease term remaining. One of the tenants is a credit tenant with a lease in place until 2034 and options to extend. This is a premier location in the heart of Chicago's Loop. Close to everything including Michigan Avenue, restaurants, retail, Millenium Park and the lakefront. There is valet parking available. Call for a copy of the rent roll.

    Property Features for 111 N Wabash Avenue 1114-1116

    General Information

    Sale Condition
    1031-exchange
    Property type
    Other investment properties
    Square Feet
    259,000 SF
    Elevators
    Yes
    Lot Size
    259,000 SF

    Building Details

    Buildings
    1
    Stories
    22
    Location Intelligence

    Current Use by Public Records

    Lakefront Dental Spa Dentist GenEx DNA Testing ... Paternity Testing Service Dr. Michael B. ... Dentist Marcus Dental Practice Dentist Chicago Family Dental ... Cosmetic Dentist

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    State
    Illinois
    Longitude
    -72.769313
    Latitude
    41.641079

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    FAQs

    What type of property is this?
    Investment property - 259,000 SF 2 Units Portfolio For Sale
    Where is this investment property located?
    The property is located at 111 N Wabash Avenue 1114-1116 Chicago, IL.
    What is the asking price?
    The asking price for this property is $2,310,000.
    (630) 715-5714
    Request Owner's contact information
    111 N Wabash Avenue 1114-1116 Chicago, IL 60602
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    Realmo Value Estimation

    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.

    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.

    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
    111 N Wabash Avenue 1114-1116 Chicago, IL 60602
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