Building Details

Building Size 4,000 SF

Year Built 1913

Buildings 1

Stories 1

Units 1

Listing Agency: MUV Real Estate c***@muvrealestate.com

Listed By: Jesse Nocon Show Phone

Source: Fishmangroup

Added: Jul 9 Changed: Oct 23 Last Checked: Oct 23 at 1:23PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 4,000-square-foot flex space in Chicago has three private offices, an executive office, a conference room, a kitchenette, a break area, and approximately four workstations. The one-story corner suite has a street entrance and was built in 1913. Zoning is OFFIC.

Two indoor garage parking spaces are included, with 13 additional spaces available. The suite may be combined with an adjacent 8,000-square-foot unit. The property is offered for sale.

Key Highlights

• 4,000 SF flex space with a street entrance
• Three private offices, one executive office, and a conference room
• Kitchenette, break area, and approximately four workstations

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$85,824

Cap Rate

6.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,716,480 $1.7M

Cap Rate 7%

$1,226,057 $1.2M

Cap Rate 9%

$953,600 $953.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,000 SF

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 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 (±1% cap)

NOI $85,824 @ 7.0% cap · market cap 6.13%

Second Best

Retail

$790.6K

$691.7K – $922.3K (±1% cap)

NOI $55,339 @ 7.0% cap · market cap 3.96%

Theoretical Best

Office A

$1.89M

$1.65M – $2.20M (±1% cap)

NOI $132,019 @ 7.0% cap · market cap 9.44%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Deflorio Fashion Bridal Clothing & Fashion Store Vohra Sudesh MD Physician Harold Bregman, M.D. Physician Bleeding Disorders Alliance ... Charitable Organization Marco Pagani, M.D. Physician

Suggested Use

Top Pick Buffet Adult Day Care Clothing & Fashion Store Nursing Home Restaurant Tanning Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

17.9% 2019

19.2% 2020

20.7% 2021

23.1% 2022

23.3% 2023

25.1% 2024

25.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - A conference room, kitchenette, and work areas support a range of commercial configurations.

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: 4,000 SF flex space with a street entrance; Three private offices, one executive office, and a conference room; Kitchenette, break area, and approximately four workstations