Two-Story Professional Office
For Sale
$349,500
2611 E Chicago St, Valparaiso, IN 46383
Configured with reception, private offices, conference space, kitchenette, restroom, and a loft-style upper-level area.
Property Size2,624 SF
Price / SF$133.19
Days on Market50
Property Features for 2611 E Chicago St
General Information
Standard status
Active
Size
2,624 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
2004
Stories
2
Listing Agency:
McColly Real Estate
Listed By:
Michael Siwietz · License #RB14041675
(219) 229-2911
Source:
Realtopiare
Added: Aug 18
Changed: Oct 6
Last Checked: Oct 5 at 9:45PM
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-square-foot office condo spans two levels within a six-unit office park composed of three buildings. The main floor includes a built-in reception desk, seating area, two private offices, a conference room, kitchenette, mechanical room, and restroom. Tray ceilings and hardwood details add finished character to the conference area. Upstairs, a loft-style landing connects two additional offices.
The office park occupies just over an acre and provides more than 40 parking spaces. A monument sign fronts Chicago Street, while nearby retail along LaPorte Avenue, access to Rt 49 and US 30, and proximity to Valparaiso University support convenient access for occupants and visitors. Built in 2004, the property offers a defined office layout with multiple private work areas and dedicated meeting space.
The office park occupies just over an acre and provides more than 40 parking spaces. A monument sign fronts Chicago Street, while nearby retail along LaPorte Avenue, access to Rt 49 and US 30, and proximity to Valparaiso University support convenient access for occupants and visitors. Built in 2004, the property offers a defined office layout with multiple private work areas and dedicated meeting space.
Key Highlights
- 2,624 SF two‑story office condo
- Six‑unit office park with three buildings
- More than 40 parking spaces within the 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
Current Use
Lease Details
Yes
Highway access
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Configured with reception, private offices, conference space, kitchenette, restroom, and a loft-style upper-level area.
Where is this office units located?
The property is located at 2611 E Chicago St 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 condo; Six‑unit office park with three buildings; More than 40 parking spaces within the park
