Medical Suite in Chicago
111 N Wabash Suite 620 Chicago, IL 60602
111 N Wabash Suite 620, Chicago, IL, 60602
$3,500,000
For Sale
$3,500,000
Turn-key medical suite in the heart of Chicago's Loop.
Property Size11,000 SF
Price / SF$318.18
Days on Market65
Property Features for 111 N Wabash Suite 620
General Information
- Standard status
- Active
- Size
- 11,000 SF
- Property subtype
- Office
Listing agency
Joseph Rossi & Associates, Inc (JRA) - Corporate
(312) 523-3176
Listed by
Scott Fitzgerald
(312) 523-3176
Source
Jrossiandassociates
Added: May 19 Updated: Jul 10 at 1:38PM Checked: Jul 21 at 8:30AM
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 Joseph Rossi & Associates, Inc (JRA) - Corporate
Investment Insights
Based on property information with market context.
Located in the heart of Chicago’s Loop, this medical suite is situated within the Garland Building. The 11,000 square-foot space is fully built-out and divided into a primary care clinic and a fully equipped imaging center. It offers a turn-key environment suitable for healthcare users seeking a high-acuity setting. The layout allows for immediate occupancy or flexible reconfiguration.
Key Highlights
- Fully built‑out medical suite, ready for immediate occupancy.
- Located in the heart of Chicago's Loop.
- Includes both a primary care clinic and a fully equipped imaging center.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $422.4k | $38.40 |
| − Vacancy | −$107.7k | −$9.79 |
| EGI | $314.7k | $28.61 |
| − OpEx | −$78.7k | −$7.15 |
| NOI | $236.0k | $21.46 |
11,000 SF · lease $38.40/SF/yr · vacancy 25.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.37M
$2.95M – $3.93M
NOI $236,016 @ 7.0% cap · market cap 6.74%
Second Best
Healthcare Medical
$2.08M
$1.82M – $2.43M
NOI $145,728 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$5.19M
$4.54M – $6.05M
NOI $363,053 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Lakefront Dental Spa
Dental Office
GenEx DNA Testing ...
Paternity Testing Service
Dr. Michael B. ...
Dental Office
Marcus Dental Practice
Dental Office
Chicago Family Dental ...
Dental Office
Similar For Sale Nearby
Similar Off Market Nearby
- Heartland Veterinary Partners — 10 South LaSalle, Suite 2120, Chicago, IL 60603
- Partners Animal Hospital South Loop — 550 S Dearborn St, Chicago, IL 60605
- Veterinarian Services — 209 S La Salle St, Chicago, IL 60604
- K9 Bytes, Inc. — 205 W Wacker Dr STE 1320, Chicago, IL 60606
- American Veterinary Med Associates — 55 E Jackson Blvd # 700, Chicago, IL 60604
FAQs
What type of property is this?
Medical Office Space - Turn-key medical suite in the heart of Chicago's Loop.
Where is this medical office space located?
The property is located at 111 N Wabash Suite 620 Chicago, IL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Fully built‑out medical suite, ready for immediate occupancy.; Located in the heart of Chicago's Loop.; Includes both a primary care clinic and a fully equipped imaging center.
