One-Story Corner Commercial
For Sale
$1,399,000
210 S Desplaines Street #SE, Chicago, IL 60661
Single-story corner unit with street entrance and indoor garage parking, offered for sale or lease.
Property Size4,000 SF
Price / SF$349.75
Days on Market50
Property Features for 210 S Desplaines Street #SE
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
13
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$96,418
Amenities
Central air
Central Air Cooling
Building Details
Year Built
1913
Stories
1
Listing Agency:
MUV REAL ESTATE
(312) 900-3429
Listed By:
JESSE NOCON
Source:
Corcoran
Added: Jul 10
Changed: Aug 23
Last Checked: Aug 26 at 9:48AM
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.
A one-story corner commercial space of approximately 4,000 SF, featuring a street entrance and indoor garage parking. The property can also be combined with an adjacent 8,000 SF unit to accommodate a wider range of space needs.
The offering is located at 210 S Desplaines Street #SE in Chicago, IL 60661. Garage parking is included with two indoor spaces, with 13 available.
The space is presented as a flexible option suitable for retail, showroom, office, or light industrial uses, with availability for both sale or lease.
The offering is located at 210 S Desplaines Street #SE in Chicago, IL 60661. Garage parking is included with two indoor spaces, with 13 available.
The space is presented as a flexible option suitable for retail, showroom, office, or light industrial uses, with availability for both sale or lease.
Key Highlights
- West Loop one‑story corner commercial space with street entrance
- 4,000 SF available for sale or lease
- Includes 2 indoor garage parking spaces (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
$85,824
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
6.13%
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%
$1,716,480
$1.7M
Cap Rate 7%
$1,226,057
$1.2M
Cap Rate 9%
$953,600
$953.6K
Market Conditions
NOI Build-Up for 4,000 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
$153.6K $38.40/SF
− Vacancy
−$39.2K −$9.79/SF
EGI
$114.4K $28.61/SF
− OpEx
−$28.6K −$7.15/SF
NOI
$85.8K $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%
$1,716,480
Cap Rate 7%
$1,226,057
Cap Rate 9%
$953,600
Alternative Uses
Best Use
Office B
$1.23M
$1.07M – $1.43M
NOI $85,824 @ 7.0% cap · market cap 6.13%
Second Best
Retail
$790.6K
$691.7K – $922.3K
NOI $55,339 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,019 @ 7.0% cap · market cap 9.44%
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 Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Single-story corner unit with street entrance and indoor garage parking, offered for sale or lease.
Where is this flex space located?
The property is located at 210 S Desplaines Street #SE Chicago, IL.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: West Loop one‑story corner commercial space with street entrance; 4,000 SF available for sale or lease; Includes 2 indoor garage parking spaces (13 available)
