Two-Story Office
New
For Sale
$349,500
2611 E Chicago Street, Valparaiso, IN 46383
SINGLE_FAMILY - Valparaiso, IN
Property Size2,624 SF
Lot Size0.17 Acres
Price / SF$133.19
Days on Market1
Property Features for 2611 E Chicago Street
General Information
Property type
Residential
Property subtype
Office
Zoning description
Business
Parking
42
Security features
Security System
Interior features
Ceiling Fan(s), Tray Ceiling(s), Entrance Foyer
Exterior features
Lighting
Appliances
Refrigerator, Water Heater
Subdivision
Silhavy Comm Park 1st Add
Directions
Off of La Porte Ave, take roundabout north on Silhavy, turn west (left) on Chicago Street. Office Park is on the north side, NW unit in rear building.
Standard status
Active
APN
641019280004000004
Size
2,624 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
SILHAVY COMM PARK 1ST ADD REPLAT LOT 3 GOOD CONDOS BLDG 2611 UNIT B TIF
Tax Annual Amount
5527
Legal Description
SILHAVY COMM PARK 1ST ADD REPLAT LOT 3 GOOD CONDOS BLDG 2611 UNIT B TIF
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas, Forced Air
Water source
Public
Building Details
Year built
2004
Listing Agency:
McColly Real Estate
(219) 462-2411
Listed By:
Michael Siwietz · License #RB14041675
(219) 229-2911
Added: Aug 3
Last Checked: Aug 3 at 5:06PM
MLS# 843324
Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,624-square-foot professional office condominium was built in 2004 and occupies two levels within a three-building, six-unit office park on just over an acre. The main floor includes a built-in reception area, two private offices, a conference room with tray ceilings and hardwood features, a kitchenette, mechanical room, and restroom. The upper level provides a loft-style landing and two additional offices. Central forced-air heating with natural gas, public water, and public sewer serve the property.
The office park provides 40+ parking spaces and monument signage along Chicago Street. The property is minutes from major retailers along LaPorte Avenue, with access to Rt 49, US 30, and Valparaiso University. The condo includes lighting, ceiling fans, an entrance foyer, refrigerator, and water heater.
The office park provides 40+ parking spaces and monument signage along Chicago Street. The property is minutes from major retailers along LaPorte Avenue, with access to Rt 49, US 30, and Valparaiso University. The condo includes lighting, ceiling fans, an entrance foyer, refrigerator, and water heater.
Key Highlights
- 2,624 SF two‑story professional office condominium
- Built in 2004 within a three‑building, six‑unit office park
- 40+ parking spaces available within the park
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.7k | $17.04 |
| − Vacancy | −$2.7k | −$1.02 |
| EGI | $42.0k | $16.02 |
| − OpEx | −$10.5k | −$4.00 |
| NOI | $31.5k | $12.01 |
2,624 SF · lease $17.04/SF/yr · vacancy 6.00% · expense 25.00%
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
Property Profile
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,802
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 - Professional office condominium with reception, private offices, conference room, kitchenette, and loft-style upper-level workspace.
Where is this office units located?
The property is located at 2611 E Chicago Street 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 professional office condominium; Built in 2004 within a three‑building, six‑unit office park; 40+ parking spaces available within the park
