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    Downtown Office Building with Amenities Title is generated by Realmo AI

    150 South Wacker Drive, Chicago, IL 60606

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    New
    For Lease
    $28 SF/Yr $397,590/Mo (calc)

    Part of a two-building campus with shared plaza, new amenity space, and hospitality-style common areas for office tenants.

    Type:Office
    Property size:
    170,396 SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 1:46 am

    Property Features for 150 South Wacker Drive

    General Information

    Standard status
    Active
    Size
    170,396 SF
    Property subtype
    Office

    Spaces For Lease

    at 150 South Wacker Drive Contact us

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    Listing Contact
    Joe Alberts

    Listing agent Joe Alberts

    Listing office

    Listing date Jun 2, 2026

    Source Lpc

    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 Joe Alberts

    HighLights

    • 150 S Wacker is part of a 2‑building office complex totaling 1.2M SF on a full city block
    • Campus is bound by the Chicago River, Monroe Street, Wacker Drive, and Adams Street
    • Shares an outdoor plaza and private outdoor space with sister building 100 S Wacker
    • New amenity center and hospitality‑style common areas underway, including a coffee bar lounge
    • On‑campus restaurant options include South Branch Tavern & Grille and Potbelly Sandwich Works
    • New conference center and private outdoor patio are underway; West Loop area with easy access to commuter rail at OTC and Union

    Overview

    150 S Wacker is a major office asset within a two-building, approximately 1.2 million square foot complex on an entire city block. The building shares an outdoor plaza, a new amenity center, and private outdoor space with its sister property at 100 S Wacker. The campus is being enhanced with a new conference center, a private outdoor patio, and a hospitality lounge featuring a coffee bar. Additional planned common space includes a game room and comfortable seating.

    The property is positioned on the west side of Wacker Drive with unencumbered views in every direction. Restaurant offerings available on the two-building campus include South Branch Tavern & Grille and Potbelly Sandwich Works. West Loop access supports convenient commuter rail options at OTC and Union.

    With its campus environment and ongoing upgrades, this building is well suited for office users seeking a full-service feel and meeting-ready space without leaving the property grounds. Tenants that value shared outdoor areas, upgraded amenity programming, and on-site dining convenience are likely to find this configuration practical for everyday operations and client-facing needs.
    Location Intelligence

    Current Use by Public Records

    Spearman Law, LLC Law Firm NETIKUS.NET ltd (Bike/Boat/Book/etc) Store Orange Business Services Telecommunications Service Chicago & Cook Co ... Construction Company Barich IP Law ... Law Firm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6374595
    Latitude
    41.8796824

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    FAQs

    What type of property is this?
    Office building - Part of a two-building campus with shared plaza, new amenity space, and hospitality-style common areas for office tenants.
    Where is this office building located?
    The property is located at 150 South Wacker Drive Chicago, IL.
    What is the lease rate?
    The lease rate is $28 SF/Yr.
    What are key features of this property?
    This property features: 150 S Wacker is part of a 2‑building office complex totaling 1.2M SF on a full city block; Campus is bound by the Chicago River, Monroe Street, Wacker Drive, and Adams Street; Shares an outdoor plaza and private outdoor space with sister building 100 S Wacker
    (312) 213-3460
    We can help!
    Listing Contact
    Joe Alberts
    Learn More
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    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
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