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Timber Loft Creative Space
For Sale
$575,000

566 W Lake Street #101, Chicago, IL 60661

Open-plan workspace with conference rooms, kitchenette, storage, and convenient rail access.

Property Size4,593 SF
Price / SF$125.19
Days on Market165

Property Features for 566 W Lake Street #101

General Information

Standard status Active
Size 4,593 SF
Property subtype Commercial
Zoning OFFIC

Additional Details

Public Transit Yes

Taxes and HOA fees

Annual Taxes $40,000

Amenities

private conference rooms
kitchenette
server room
storage areas
bathrooms

Building Details

Building Size 4,593 SF
Year Built 1920
Stories 7
Construction timber loft
Listing Agency: Ascot Realty Group, Inc.
Listed By: Denis Ascot · License #475118502
Source: Exit2newbeginningz
Added: Feb 28 Changed: Aug 9 Last Checked: Aug 11 at 2:34PM

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 Ascot Realty Group, Inc.

Investment Insights

Based on property information with market context.

This 4,593-square-foot creative space occupies a classic timber loft with an open plan suited to collaborative work. The interior includes two private conference rooms, a kitchenette, a server room, two storage areas, and bathrooms. Constructed in 1920, the property combines historic loft character with practical office improvements.

The space is at 566 W Lake Street in Chicago’s Fulton River District, blocks from Fulton Market. The Green Line’s Clinton station is immediately adjacent, while Ogilvie Transportation Center is a five-minute walk away. Its transit-oriented setting supports convenient access for employees, clients, and visitors.

Key Highlights

  • 4,593 SF classic timber loft with open layout
  • Two private conference rooms plus kitchenette
  • Server room, two storage areas, and bathrooms

Property Analytics

Current Use

Arbor Lodging Partners Corporate Office Encircle Wellness Physician Law Offices of Aaron ... Law Firm Merritt Legal Records Financial Advisor Ascot Realty Group ... Real Estate Agency

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Buffet Clothing & Fashion Store Adult Day Care Restaurant Nursing Home

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

25,147
Businesses Nearby

Demographics for 60661, IL

11,987
Population
8,049
Households
1.5
Avg Household Size
32
Median Age
88%
College-Educated
99%
High-School Grad
0.3 sq mi
ZIP Area
39,957
Density / Sq Mi
$138,831
Median Household Income
$105,935
Median Earnings
$2,403
Median Rent
$397,700
Median Home Value

Market

Vacancy Rate% for Office in Chicago, IL

17.9% 2019
19.2% 2020
20.7% 2021
23.1% 2022
23.3% 2023
25.1% 2024
25.6% 2025
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Frequently Asked Questions

What type of property is this?
Creative space - Open-plan workspace with conference rooms, kitchenette, storage, and convenient rail access.
Where is this creative space located?
The property is located at 566 W Lake Street #101 Chicago, IL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 4,593 SF classic timber loft with open layout; Two private conference rooms plus kitchenette; Server room, two storage areas, and bathrooms
More about this property
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