Office Space for
For Sale
$140,000
222 N Columbus Drive Unit C3, Chicago, IL 60601
Office suite available for sale at 222 N Columbus Drive, Chicago, IL 60601.
Property Size575 SF
Price / SF$243.48
Days on Market181
Property Features for 222 N Columbus Drive Unit C3
General Information
Standard status
Active
Size
575 SF
Property subtype
COMMERCIAL
Taxes and HOA fees
Annual Taxes
$7,182
Building Details
Building Size
575 SF
Year Built
2002
Listing Agency:
Corcoran Urban Real Estate
Listed By:
Lori Sklodowski
(773) 707-1686
Source:
Harkinsandassociates
Added: Apr 13
Changed: Sep 25
Last Checked: Oct 10 at 2:09AM
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 Corcoran Urban Real Estate
Investment Insights
Based on property information with market context.
This office suite is available for sale within 222 N Columbus Drive, Chicago, IL 60601. The listing is identified as unit C3.
The property is located in downtown Chicago at 222 N Columbus Drive, providing access to the central business area.
Specific interior features, building amenities, and size details are not provided in the available information.
The property is located in downtown Chicago at 222 N Columbus Drive, providing access to the central business area.
Specific interior features, building amenities, and size details are not provided in the available information.
Key Highlights
- Office suite for sale at 222 N Columbus Drive, Chicago, IL 60601
- Built in 2002
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,337
Cap Rate
8.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$246,740
$246.7K
Cap Rate 7%
$176,243
$176.2K
Cap Rate 9%
$137,078
$137.1K
Market Conditions
NOI Build-Up for 575 SF
Gross rent
$22.1K $38.40/SF
− Vacancy
−$5.6K −$9.79/SF
EGI
$16.4K $28.61/SF
− OpEx
−$4.1K −$7.15/SF
NOI
$12.3K $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%
$246,740
Cap Rate 7%
$176,243
Cap Rate 9%
$137,078
Alternative Uses
Best Use
Office B
$176.2K
$154.2K – $205.6K
NOI $12,337 @ 7.0% cap · market cap 8.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$271.1K
$237.2K – $316.3K
NOI $18,978 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
27,287
Businesses Nearby
Explore this area
Business Placement
Demographics for 60601, IL
15,814
Population
10,727
Households
1.5
Avg Household Size
36
Median Age
86%
College-Educated
95%
High-School Grad
0.4 sq mi
ZIP Area
39,535
Density / Sq Mi
$127,323
Median Household Income
$100,078
Median Earnings
$2,451
Median Rent
$495,400
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 building - Office suite available for sale at 222 N Columbus Drive, Chicago, IL 60601.
Where is this office building located?
The property is located at 222 N Columbus Drive Unit C3 Chicago, IL.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Office suite for sale at 222 N Columbus Drive, Chicago, IL 60601; Built in 2002
