Two-Story Professional Office
For Sale
$349,500
Pending
2611 E Chicago St Unit B, Valparaiso, IN 46383
Business park-zoned office condominium with reception, private offices, conference space, kitchenette, and on-site parking.
Property Size2,624 SF
Days on Market106
Property Features for 2611 E Chicago St Unit B
General Information
Standard status
Pending
Size
2,624 SF
Property subtype
Commercial
Building Details
Year Built
2004
Listing Agency:
McColly Real Estate
Listed By:
Michael Siwietz · License #RB14041675
(219) 229-2911
Source:
Illianahomesource
Added: Jun 24
Changed: Oct 1
Last Checked: Oct 7 at 12:55PM
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 McColly Real Estate
Investment Insights
Based on property information with market context.
This 2,624 SF office condominium provides a two-level professional workspace within a six-unit office park. The main level includes a built-in reception area, seating space, two private offices, a conference room with tray ceilings and hardwood features, kitchenette, mechanical room, and restroom. The upper level adds a loft-style landing and two additional offices, creating a practical separation between reception, meeting, and private work areas. Built in 2004, the property is zoned BP - Business Park.
The office park occupies just over an acre and provides 40+ parking spaces. A monument sign is positioned along Chicago Street. The property offers access to Rt 49 and US 30 and is minutes from major retailers along LaPorte Avenue and Valparaiso University.
The office park occupies just over an acre and provides 40+ parking spaces. A monument sign is positioned along Chicago Street. The property offers access to Rt 49 and US 30 and is minutes from major retailers along LaPorte Avenue and Valparaiso University.
Key Highlights
- 2,624 SF two‑story office condominium built in 2004
- Six‑unit office park on just over an acre
- 40+ parking spaces within the office park
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,523
Cap Rate
9.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$630,460
$630.5K
Cap Rate 7%
$450,329
$450.3K
Cap Rate 9%
$350,256
$350.3K
Market Conditions
NOI Build-Up for 2,624 SF
Gross rent
$44.7K $17.04/SF
− Vacancy
−$2.7K −$1.02/SF
EGI
$42.0K $16.02/SF
− OpEx
−$10.5K −$4.00/SF
NOI
$31.5K $12.01/SF
Area
Porter County, IN
Vacancy
6.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$630,460
Cap Rate 7%
$450,329
Cap Rate 9%
$350,256
Alternative Uses
Best Use
Office B
$450.3K
$394.0K – $525.4K
NOI $31,523 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$994.5K
$870.2K – $1.16M
NOI $69,616 @ 7.0% cap · market cap 19.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
858
Businesses Nearby
Explore this area
Business Placement
Demographics for 46383, IN
41,981
Population
18,343
Households
2.3
Avg Household Size
39
Median Age
38%
College-Educated
95%
High-School Grad
87.5 sq mi
ZIP Area
480
Density / Sq Mi
$75,575
Median Household Income
$43,065
Median Earnings
$1,144
Median Rent
$258,400
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - Business park-zoned office condominium with reception, private offices, conference space, kitchenette, and on-site parking.
Where is this office units located?
The property is located at 2611 E Chicago St Unit B Valparaiso, IN.
What is the asking price?
The asking price for this property is $349,500.
What are key features of this property?
This property features: 2,624 SF two‑story office condominium built in 2004; Six‑unit office park on just over an acre; 40+ parking spaces within the office park
