One-Story Corner Flex Commercial
For Sale
$2,699,000
210 S Desplaines Street #NE, Chicago, IL 60661
One-story corner space with indoor garage parking and flexibility for retail, showroom, office, or light industrial.
Property Size8,000 SF
Price / SF$337.38
Days on Market50
Property Features for 210 S Desplaines Street #NE
General Information
Standard status
Active
Size
8,000 SF
Total Parking Spaces
13
Property subtype
Commercial
Zoning
OFFIC
Taxes and HOA fees
Annual Taxes
$204,849
Building Details
Building Size
8,000 SF
Year Built
1913
Stories
1
Units
1
Listing Agency:
MUV Real Estate
(312) 900-3429
Listed By:
Jesse Nocon
(312) 900-3429
Source:
Midwestrealestate
Added: Jul 8
Changed: Aug 24
Last Checked: Aug 25 at 9:10AM
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 MUV Real Estate
Investment Insights
Based on property information with market context.
One-story corner commercial space at 210 S Desplaines Street #NE in Chicago, offering 8,000 SF for sale or lease. The space is designed as flexible commercial space and can be combined with an adjacent 4,000 SF unit to accommodate a range of business needs. Included with the suite are 4 indoor garage parking spaces, with 13 available total.
Positioned as a West Loop commercial offering, the property serves multiple operating styles, with suitability noted for retail, showroom, office, or light industrial use.
If you are looking for a corner configuration with on-site indoor garage parking and the ability to expand through combination with the nearby unit, this suite is available for sale or lease.
Positioned as a West Loop commercial offering, the property serves multiple operating styles, with suitability noted for retail, showroom, office, or light industrial use.
If you are looking for a corner configuration with on-site indoor garage parking and the ability to expand through combination with the nearby unit, this suite is available for sale or lease.
Key Highlights
- 8,000 SF West Loop one‑story corner commercial space available for sale or lease
- Can be combined with an additional 4,000 SF unit for larger business needs
- 4 indoor garage parking spaces included; 13 available
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
$110,678
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
4.10%
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%
$2,213,560
$2.2M
Cap Rate 7%
$1,581,114
$1.6M
Cap Rate 9%
$1,229,756
$1.2M
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
$172.8K $21.60/SF
− Vacancy
−$14.7K −$1.84/SF
EGI
$158.1K $19.76/SF
− OpEx
−$47.4K −$5.93/SF
NOI
$110.7K $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 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%
$2,213,560
Cap Rate 7%
$1,581,114
Cap Rate 9%
$1,229,756
Alternative Uses
Best Use
Retail
$1.58M
$1.38M – $1.84M
NOI $110,678 @ 7.0% cap · market cap 4.10%
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
Current Use
Location Intelligence
Trade Area within ½ mile
21,863
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Jarabe - Taqueria — 1104 W Taylor St, Chicago, IL 60607
- Sweet cheats — 1130 S Canal St #1410, Chicago, IL 60607
- Moe's Southwest Grill — 750 S Halsted St, Chicago, IL 60607
- A Tale of Two Chefs — 47 W Polk St Suite 140, Chicago, IL 60605
- ComplEAT Cuisine CHI — 644 S Halsted St, Chicago, IL 60607
Frequently Asked Questions
What type of property is this?
Flex space - One-story corner space with indoor garage parking and flexibility for retail, showroom, office, or light industrial.
Where is this flex space located?
The property is located at 210 S Desplaines Street #NE 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 West Loop one‑story corner commercial space available for sale or lease; Can be combined with an additional 4,000 SF unit for larger business needs; 4 indoor garage parking spaces included; 13 available
