South Loop Retail/Office
For Sale
$250,000
1930 S Wabash Avenue #C1, Chicago, IL 60616
Versatile 825 SF space in prime South Loop location.
Property Size825 SF
Price / SF$303.03
Days on Market346
Property Features for 1930 S Wabash Avenue #C1
General Information
Standard status
Active
Size
825 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,915
Amenities
Central air
Central Individual Cooling
Membrane Roof
Building Details
Year Built
2002
Listing Agency:
CENTURY 21 S.G.R., INC.
(312) 326-3697
Listed By:
MYRA NIMCHAIYONG · License #471018194
Source:
Corcoran
Added: Sep 11, 2025
Changed: Aug 22
Last Checked: Aug 22 at 6:40AM
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 CENTURY 21 S.G.R., INC.
Investment Insights
Based on property information with market context.
This bright and versatile 825 SF space is suitable for retail or office use and is located in the heart of the South Loop. The property features high ceilings, hardwood floors, and expansive front windows that provide natural light and visibility. The layout includes three private offices or treatment rooms, a spacious reception or waiting area, and an expansive restroom. The property's DX-5 zoning allows for a wide range of uses, making it ideal for retail, professional services, medical, or creative suite concepts. A parking space is assigned and included with the property. The location offers convenience, visibility, and functionality, positioned near McCormick Place, Wintrust Arena, public transit, and major expressways, situated on Wabash Avenue at the stop light intersection of Cullerton Avenue.
Key Highlights
- Prime South Loop location on Wabash Avenue at Cullerton Avenue, near McCormick Place and Wintrust Arena.
- Included assigned parking space.
- Flexible DX‑5 zoning allows for diverse business uses (retail, office, medical, creative).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,701
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$354,020
$354.0K
Cap Rate 7%
$252,871
$252.9K
Cap Rate 9%
$196,678
$196.7K
Market Conditions
NOI Build-Up for 825 SF
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.
Gross rent
$31.7K $38.40/SF
− Vacancy
−$8.1K −$9.79/SF
EGI
$23.6K $28.61/SF
− OpEx
−$5.9K −$7.15/SF
NOI
$17.7K $21.46/SF
Area
Chicago, IL
Vacancy
25.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$354,020
Cap Rate 7%
$252,871
Cap Rate 9%
$196,678
Alternative Uses
Best Use
Office B
$252.9K
$221.3K – $295.0K
NOI $17,701 @ 7.0% cap · market cap 7.08%
Second Best
Retail
$163.1K
$142.7K – $190.2K
NOI $11,414 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$389.0K
$340.4K – $453.8K
NOI $27,229 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,628
Businesses Nearby
Explore this area
Business Placement
Demographics for 60616, IL
54,013
Population
26,912
Households
2
Avg Household Size
38
Median Age
53%
College-Educated
86%
High-School Grad
3.8 sq mi
ZIP Area
14,214
Density / Sq Mi
$77,841
Median Household Income
$53,415
Median Earnings
$1,329
Median Rent
$387,300
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Versatile 825 SF space in prime South Loop location.
Where is this retail space located?
The property is located at 1930 S Wabash Avenue #C1 Chicago, IL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Prime South Loop location on Wabash Avenue at Cullerton Avenue, near McCormick Place and Wintrust Arena.; Included assigned parking space.; Flexible DX‑5 zoning allows for diverse business uses (retail, office, medical, creative).
