One-Story Office
For Sale
$2,699,000
210 S Desplaines Street, Chicago, IL 60661
Commercial Sale, Chicago, IL
Property Size8,000 SF
Lot Size0.18 Acres
Price / SF$337.38
Days on Market47
Property Features for 210 S Desplaines Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OFFIC
Directions
SW corner of Desplaines & Adams. Entrance on Desplaines St. in the West Loop.
Subdivision
CHI - Near West Side
Standard status
Active
APN
17161090290000
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
204849
Utilities
Cooling system
Central Air
Building Details
Year built
1913
Floors in Building
1
Number of units
1
Flooring type
Wood
Building materials
Brick
Listing Agency:
MUV Real Estate
(312) 900-3429
Listed By:
Jesse Nocon
(312) 599-6505
Added: Jul 8
Changed: Aug 20
Last Checked: Aug 23 at 2:06PM
MLS# 12699721
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 8,000-square-foot office property occupies a one-story corner position at 210 S Desplaines Street in Chicago’s West Loop. The interior includes 7 private offices, approximately 15 workstations, a 14-person board room, and 2 conference rooms. Brick construction, wood flooring, and central air conditioning are in place, with the building dating to 1913.
The property is zoned OFFIC and includes 4 indoor garage parking spaces, with 13 additional spaces available. An adjoining 4,000-square-foot unit may be combined with the existing space, providing additional configuration flexibility. The asset is offered for sale in ZIP Code 60661, within Cook County.
The property is zoned OFFIC and includes 4 indoor garage parking spaces, with 13 additional spaces available. An adjoining 4,000-square-foot unit may be combined with the existing space, providing additional configuration flexibility. The asset is offered for sale in ZIP Code 60661, within Cook County.
Key Highlights
- 8,000 SF one‑story office property in Chicago’s West Loop
- 7 private offices and approximately 15 workstations
- 14‑person board room plus 2 conference rooms
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
$171,648
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
6.36%
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%
$3,432,960
$3.4M
Cap Rate 7%
$2,452,114
$2.5M
Cap Rate 9%
$1,907,200
$1.9M
Market Conditions
NOI Build-Up for 8,000 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
$307.2K $38.40/SF
− Vacancy
−$78.3K −$9.79/SF
EGI
$228.9K $28.61/SF
− OpEx
−$57.2K −$7.15/SF
NOI
$171.6K $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%
$3,432,960
Cap Rate 7%
$2,452,114
Cap Rate 9%
$1,907,200
Alternative Uses
Best Use
Office B
$2.45M
$2.15M – $2.86M
NOI $171,648 @ 7.0% cap · market cap 6.36%
Second Best
Flex RnD
$1.32M
$1.15M – $1.54M
NOI $92,352 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$3.77M
$3.30M – $4.40M
NOI $264,038 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
21,863
Businesses Nearby
Explore this area
Business Placement
Demographics for 60661, IL
11,987
Population
8,049
Households
1.5
Avg Household Size
32
Median Age
88%
College-Educated
99%
High-School Grad
0.3 sq mi
ZIP Area
39,957
Density / Sq Mi
$138,831
Median Household Income
$105,935
Median Earnings
$2,403
Median Rent
$397,700
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?
Office units - Corner configuration, private work areas, meeting rooms, and garage parking support a flexible professional workspace.
Where is this office units located?
The property is located at 210 S Desplaines Street Chicago, IL.
What is the asking price?
The asking price for this property is $2,699,000.
What are key features of this property?
This property features: 8,000 SF one‑story office property in Chicago’s West Loop; 7 private offices and approximately 15 workstations; 14‑person board room plus 2 conference rooms
