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    Updated Condo with City Views Title is generated by Realmo AI

    200 N Dearborn Street #1007, Chicago, IL 60601

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    Claim this Listing
    For Sale
    $321,000

    Updated 2 bed, 1 bath condo in downtown Chicago.

    Type:Condominium
    Property size:
    1,060 SF
    Price / SF:
    $302/SF
    Added:
    Jul 17, 2025
    Days on Market:
    318
    Last Refresh:
    May 19 at 10:16 pm

    Property Features for 200 N Dearborn Street #1007

    General Information

    Standard status
    Active
    Size
    1,060 SF
    Property subtype
    Condominium

    Building Details

    Year Built
    1989

    We can help!

    Listing Contact
    Danielle Dowell

    Listing agent Danielle Dowell

    Listing office Berkshire Hathaway HomeServices Chicago

    Listing date Jul 17, 2025

    Source Kw

    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 Berkshire Hathaway HomeServices Chicago

    HighLights

    • Prime location: Steps from Google HQ, Chicago Riverwalk, Millennium Park, Grant Park, and the Art Institute.
    • Full‑amenity building: Enjoy a 24‑hour fitness center, indoor pool, sundeck with grilling stations, bike room, and storage.
    • Parking included: One garage parking spot included in the price.
    • In‑unit laundry: Rare unit with in‑unit laundry, plus building laundry room.
    • Updated condo: Features stainless steel appliances, granite countertops, hardwood floors, and modern light fixtures.
    • Pet and rental friendly: No restrictions on pets or rentals.

    Overview

    This updated 2-bedroom, 1-bath condo offers 1,060 square feet of living space and includes parking. The open-concept layout features a spacious kitchen equipped with stainless steel appliances and granite countertops, along with a breakfast bar that seamlessly connects to the dining and living areas. Updated hardwood floors extend throughout the unit, complemented by modern sputnik light fixtures. The condo includes spacious bedrooms, generous closet space, and a private balcony providing sweeping city views. A rare feature is the in-unit laundry, supplemented by a building laundry room. Residents benefit from full-service amenities, including a 24-hour fitness center, an indoor pool, a sundeck with grilling stations, a bike room, and storage. The location is steps from the new Google HQ, Chicago Riverwalk, Millennium Park, Grant Park, the Art Institute, and the vibrant Theatre District. A 7-Eleven is connected to the building, and an Amazon drop box is onsite. Every CTA line is just outside the door. There are no restrictions on pets or rentals.

    Local Financial Insights For Apartment 5plus

    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 $31.2k $29.40
    − Vacancy −$1.6k −$1.53
    EGI $29.5k $27.87
    − OpEx −$13.3k −$12.54
    NOI $16.2k $15.33
    1,060 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $232.1K
    $203.1K – $270.8K (±1% cap)
    NOI $16,249 @ 7.0% cap · market cap 5.06%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $499.8K
    $437.3K – $583.1K (±1% cap)
    NOI $34,985 @ 7.0% cap · market cap 10.90%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    7-Eleven Grocery & Convenience Store Turano & Associates Law Firm Voice of the Retarded Inc Social Service Agency 200 North Dearborn ... Condominium Complex Western Union Bank

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6298171
    Latitude
    41.886032

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    FAQs

    What type of property is this?
    Apartment building - Updated 2 bed, 1 bath condo in downtown Chicago.
    Where is this apartment building located?
    The property is located at 200 N Dearborn Street #1007 Chicago, IL.
    What is the asking price?
    The asking price for this property is $321,000.
    What are key features of this property?
    This property features: Prime location: Steps from Google HQ, Chicago Riverwalk, Millennium Park, Grant Park, and the Art Institute.; Full‑amenity building: Enjoy a 24‑hour fitness center, indoor pool, sundeck with grilling stations, bike room, and storage.; Parking included: One garage parking spot included in the price.
    (302) 629-4514
    We can help!
    Listing Contact
    Danielle Dowell
    Request Owner's contact information
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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.

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