Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    201 N Illinois St Indianapolis, IN 46225

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    High-profile office space with amenities in downtown Indianapolis.

    Property size:
    2,433 SF
    Lot size:
    3.73 Acres

    Property Features for 201 N Illinois St

    General Information

    Size
    2,433 SF
    Lot size
    3.73 Acres

    We can help!

    Listing Contact
    Traci A. Kapsalis
    Source: Moodyscre

    Listing Agency: JLL | Indianapolis Listing Agent: Traci A. Kapsalis

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Downtown Indianapolis Creative Workspace

    Capital Center is transforming to support forward-thinking organizations, delivering a high-profile, high-performance option for companies seeking a creative workspace in the heart of Downtown Indianapolis. It features an energetic social hub with seating areas and a coffee shop, as well as a high-end bar open during the work week with local operators. An open atrium leads to an outdoor courtyard with a fireplace. The property includes a conference center with training spaces, an Executive Board Room, and breakout areas featuring a kitchen. A fitness center offers a full-range of weight machines, treadmills, and Peloton bikes. On-site management and 24-hour security are provided. Underground parking, bike storage, and scooter parking are available. Banking options, a dentist, and a family & sports medical clinic are located on-site. The property also includes Café 251, a Cunningham Group restaurant, and Cups Coffee shop. An upscale hotel is coming to the south tower, and a full-service restaurant and lounge are planned for the first floor of the north tower. The property offers 6272 square feet of space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Vertellus Chemical Plant Transaction Expeditors, LLC (Bike/Boat/Book/etc) Store Hagan and White, LLP Law Firm Aegis Studio (Bike/Boat/Book/etc) Store WebFX Advertising Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.159487
    Latitude
    39.7702949

    Nearby Similar for Lease

    • New
      $6,500 /Mo
      4,249 SF

      Indianapolis Office or Flex Space

      Prime office/flex space near I-465 and Small Claims Court.
      4521 Independence Sq, Indianapolis, IN 46203
      View Details
    • New
      $2,119 /Mo
      11,859 SF

      Indianapolis Office Space For Rent

      Second-generation office space in a highly visible Indianapolis location.
      8360 S Emerson Ave, Indianapolis, IN 46237
      View Details
    • $925 /Mo
      Pending

      Franklin Township Office Space Available

      650 SF office suite in Franklin Township, Indianapolis for lease.
      5150 E Stop 11 Rd, Indianapolis, IN 46237
      View Details
    • $925 /Mo
      51,420 SF

      Franklin Township Office Space Available

      Office space for lease in Franklin Township, Indianapolis.
      5128 E Stop 11 Rd, Indianapolis, IN 46237
      View Details
    • $1,582 /Mo
      Pending

      Adaptable Office and Retail Space

      Flexible commercial property with direct access and ample parking.
      6319 S East St, Indianapolis, IN 46227
      View Details
    • $3,000 /Mo
      500 SF

      Indianapolis Retail Auto Sales Lot

      Strategically located auto sales lot near Elanco development site.
      911 Oliver Ave, Indianapolis, IN 46221
      View Details
    • $3,500 /Mo
      27,500 SF

      Turnkey Restaurant Opportunity in Indianapolis

      Freestanding, fully equipped restaurant space for lease in Indianapolis.
      2105 N Mitthoefer Rd, Indianapolis, IN 46229
      View Details
    • $2,750 /Mo
      1,708 SF

      Refurbished Commercial Space on Main Road

      Refurbished commercial space suitable for office, retail, or wellness businesses.
      7601 Michigan Rd, Indianapolis, IN 46268
      View Details
    • $2,500 /Mo
      1,853 SF

      Remodeled Commercial Space in Indianapolis

      Newly remodeled commercial space with over 1800 sq.ft.
      3010 N College Ave, Indianapolis, IN 46205
      View Details
    • $3,500 /Mo
      7,220 SF

      Versatile Indianapolis Commercial Space Available

      Multiple spaces available for lease, suitable for office, retail, and more.
      1915 Southeastern Ave, Indianapolis, IN 46201
      View Details
    • $925 /Mo
      10,284 SF

      Office Space in Franklin Township

      Office space featuring private office and co-working area for lease.
      5136 E Stop 11 Rd, Indianapolis, IN 46237
      View Details
    • $790 /Mo
      12,209 SF

      Indianapolis Office with Flexible Terms

      Office space with utilities included and flexible lease terms.
      6767 E Washington St, Indianapolis, IN 46219
      View Details

    FAQs

    What type of property is this?
    Office units - High-profile office space with amenities in downtown Indianapolis.
    Where is this office units located?
    The property is located at 201 N Illinois St Indianapolis, IN.
    What are key features of this property?
    This property features: - High-profile, creative workspace in the heart of Downtown Indianapolis.; - On-site conference center with training spaces, executive board room, and breakout areas.; - Fitness center equipped with weight machines, treadmills, and Peloton bikes.
    (317) 810-7013 Call to check price and availability
    Request Owner's contact information
    201 N Illinois St Indianapolis, IN 46225
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    201 N Illinois St
    Indianapolis, IN 46225
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    201 N Illinois St Indianapolis, IN 46225
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Traci A. Kapsalis
    Real Estate License ID: RB14031660
    (317) 810-7013 (317) 810-7000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!