Flex Space with Private
For Sale
$2,699,000
210 S Desplaines Street #NE, Chicago, IL 60661
An office-oriented layout includes dedicated work areas, meeting rooms, and indoor garage parking.
Property Size8,000 SF
Price / SF$337.38
Days on Market109
Property Features for 210 S Desplaines Street #NE
General Information
Standard status
Active
Size
8,000 SF
Total Parking Spaces
4
Property subtype
Commercial
Zoning
COMMR
Site & Location
Neighborhood
West Loop
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
Listed By:
Jesse Nocon
(312) 900-3429
Source:
Fishmangroup
Added: Jul 8
Changed: Oct 23
Last Checked: Oct 23 at 1:23PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 8,000-square-foot flex space is arranged with 7 private offices, approximately 15 workstations, a 14-person boardroom, and 2 conference rooms. The one-story corner property was built in 1913 and is zoned OFFIC. Four indoor garage parking spaces are included, with 13 additional spaces available. The space can be combined with a 4,000-square-foot unit.
Key Highlights
- 8,000 SF of flex space
- 7 private offices and approximately 15 workstations
- 14‑person boardroom and 2 conference rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$171,648
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
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
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 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
Retail
$1.58M
$1.38M – $1.84M
NOI $110,678 @ 7.0% cap · market cap 4.10%
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.
How Realmo checks its estimates
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
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Frequently Asked Questions
What type of property is this?
Flex space - An office-oriented layout includes dedicated work areas, meeting rooms, and indoor garage parking.
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 of flex space; 7 private offices and approximately 15 workstations; 14‑person boardroom and 2 conference rooms
