Office Condo
For Sale
$168,000
2300 S Archer Avenue 224, Chicago, IL 60616
Office unit offered for sale at 2300 S Archer Ave, Unit 224 in Chicago.
Property Size264 SF
Days on Market28
Property Features for 2300 S Archer Avenue 224
General Information
Standard status
Active
Size
264 SF
Taxes and HOA fees
Annual Taxes
$3,804
Amenities
Central Air
Building Details
Building Size
264 SF
Year Built
2019
Stories
2
Listing Agency:
LANDMARK & PROPERTY GROUP, INC
(773) 818-6050
Listed By:
Nancy Ip
(773) 818-6050
Source:
Evrealestate
Added: Jul 25
Changed: Aug 17
Last Checked: Aug 20 at 4:57AM
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 LANDMARK & PROPERTY GROUP, INC
Investment Insights
Based on property information with market context.
This for-sale office unit is located at 2300 S Archer Avenue, Unit 224. The offering is for an individual office space within a larger property.
Access is provided via Canal Street, turning west to Archer Ave, then proceeding to the address at 2300 S Archer Ave. The property is in Cook County, Chicago, Illinois.
For specific details on the unit’s layout, condition, or building amenities, interested parties should request more information.
Access is provided via Canal Street, turning west to Archer Ave, then proceeding to the address at 2300 S Archer Ave. The property is in Cook County, Chicago, Illinois.
For specific details on the unit’s layout, condition, or building amenities, interested parties should request more information.
Key Highlights
- Office unit for sale at 2300 S Archer Ave, Unit 224, Chicago, IL 60616
- Built in 2019
- Central air
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
$5,664
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
3.37%
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%
$113,280
$113.3K
Cap Rate 7%
$80,914
$80.9K
Cap Rate 9%
$62,933
$62.9K
Market Conditions
NOI Build-Up for 264 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
$10.1K $38.40/SF
− Vacancy
−$2.6K −$9.79/SF
EGI
$7.6K $28.61/SF
− OpEx
−$1.9K −$7.15/SF
NOI
$5.7K $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%
$113,280
Cap Rate 7%
$80,914
Cap Rate 9%
$62,933
Alternative Uses
Best Use
Office B
$80.9K
$70.8K – $94.4K
NOI $5,664 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$124.5K
$108.9K – $145.2K
NOI $8,713 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,517
Businesses Nearby
Explore this area
Business Placement
Demographics for 60616, IL
54,013
Population
26,912
Households
2
Avg Household Size
38
Median Age
53%
College-Educated
86%
High-School Grad
3.8 sq mi
ZIP Area
14,214
Density / Sq Mi
$77,841
Median Household Income
$53,415
Median Earnings
$1,329
Median Rent
$387,300
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 units - Office unit offered for sale at 2300 S Archer Ave, Unit 224 in Chicago.
Where is this office units located?
The property is located at 2300 S Archer Avenue 224 Chicago, IL.
What is the asking price?
The asking price for this property is $168,000.
What are key features of this property?
This property features: Office unit for sale at 2300 S Archer Ave, Unit 224, Chicago, IL 60616; Built in 2019; Central air
