Office Unit with Upper-Level
For Sale
Contact for pricing
1311 E 57th Street, Chicago, IL 60637
A flexible interior includes a kitchenette, basement storage, and parking.
Property Size5,000 SF
Price / SF$0.00
Days on Market35
Property Features for 1311 E 57th Street
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Office
Site & Location
Neighborhood
Hyde Park
Additional Details
Condition
Built-Out
Property Use
Office
Amenities
high ceilings exceeding 20 feet
modern build-out
kitchenette
basement storage
upper-level component
Building Details
Year Built
1915
Listing Agency:
Keller Williams ONEChicago
(312) 216-2422
Listed By:
Anthony Hardy · License #475139834
(773) 575-6082
Source:
Helenoliveri
Added: Sep 28
Changed: Oct 31
Last Checked: Oct 31 at 2:40PM
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 Keller Williams ONEChicago
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Investment Insights
Based on property information with market context.
This 5,000-SF office unit in Chicago’s Hyde Park neighborhood combines an updated interior with a flexible arrangement of functional areas. The space has ceilings exceeding 20 feet, a kitchenette, basement storage, and an upper level that looks over the main floor. Parking is available. The building dates to 1915.
The property is one block from the University of Chicago campus. The space is identified as suitable for retail, office, medical, veterinary, grocery, service, and other commercial uses.
The property is one block from the University of Chicago campus. The space is identified as suitable for retail, office, medical, veterinary, grocery, service, and other commercial uses.
Key Highlights
- 5,000 SF of office space in Hyde Park
- Ceilings exceed 20 feet
- Upper level overlooks the main floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,174
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,383,480
$1.4M
Cap Rate 7%
$988,200
$988.2K
Cap Rate 9%
$768,600
$768.6K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$108.0K $21.60/SF
− Vacancy
−$9.2K −$1.84/SF
EGI
$98.8K $19.76/SF
− OpEx
−$29.6K −$5.93/SF
NOI
$69.2K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,383,480
Cap Rate 7%
$988,200
Cap Rate 9%
$768,600
Alternative Uses
Best Use
Office B
$1.53M
$1.34M – $1.79M
NOI $107,280 @ 7.0% cap · market cap 447,000.00%
Second Best
Retail
$988.2K
$864.7K – $1.15M
NOI $69,174 @ 7.0% cap · market cap 288,225.00%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,024 @ 7.0% cap · market cap 687,600.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
4,623
Businesses Nearby
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Business Placement
Demographics for 60637, IL
53,555
Population
26,717
Households
2
Avg Household Size
31
Median Age
37%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
11,901
Density / Sq Mi
$42,080
Median Household Income
$33,227
Median Earnings
$1,170
Median Rent
$243,700
Median Home Value
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Market
Vacancy Rate% for Office in Chicago, IL
Frequently Asked Questions
What type of property is this?
Office unit - A flexible interior includes a kitchenette, basement storage, and parking.
Where is this office unit located?
The property is located at 1311 E 57th Street Chicago, IL.
What are key features of this property?
This property features: 5,000 SF of office space in Hyde Park; Ceilings exceed 20 feet; Upper level overlooks the main floor
