River West/Fulton Market Loft
For Sale
Contact for pricing
670 W Hubbard St, Chicago, IL 60654
Rehabbed loft building in a visible corner location.
Property Size9,500 SF
Price / SF$236.84
Days on Market2197
Property Features for 670 W Hubbard St
General Information
Standard status
Active
Size
9,500 SF
Class
B
Property subtype
Office, Retail
Occupancy
75%
Lease Type
Modified Gross
Building Details
Year Renovated
2008
Stories
5
Tenancy
Multi
Listing Agency:
Ann Anovitz Associates
Listed By:
Aaron Anovitz · License #IL 471011222
(312) 372-3224
Source:
Crexi
Added: Oct 27, 2020
Changed: Oct 25
Last Checked: Nov 1 at 5:16AM
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 Ann Anovitz Associates
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a rehabbed loft building located in Chicago’s River West/Fulton Market district. The property is suitable for an owner/user looking to move their business. The building is situated on a visible corner and features an excellent window line. Signage is visible from the passing Northwestern trains. The property has a size of 9500 square feet.
Key Highlights
- Rehabbed loft building in desirable River West/Fulton Market location.
- Suitable for user/owner to move their business into the property.
- Highly visible corner location with excellent window line.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$203,832
Cap Rate
9.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,076,640
$4.1M
Cap Rate 7%
$2,911,886
$2.9M
Cap Rate 9%
$2,264,800
$2.3M
Market Conditions
NOI Build-Up for 9,500 SF
Gross rent
$364.8K $38.40/SF
− Vacancy
−$93.0K −$9.79/SF
EGI
$271.8K $28.61/SF
− OpEx
−$67.9K −$7.15/SF
NOI
$203.8K $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 Rate 5%
$4,076,640
Cap Rate 7%
$2,911,886
Cap Rate 9%
$2,264,800
Alternative Uses
Best Use
Office B
$2.91M
$2.55M – $3.40M
NOI $203,832 @ 7.0% cap · market cap 9.06%
Second Best
Retail
$1.88M
$1.64M – $2.19M
NOI $131,431 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$4.48M
$3.92M – $5.23M
NOI $313,546 @ 7.0% cap · market cap 13.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
13,425
Businesses Nearby
Explore this area
Business Placement
Demographics for 60654, IL
23,890
Population
17,960
Households
1.3
Avg Household Size
34
Median Age
92%
College-Educated
99%
High-School Grad
0.5 sq mi
ZIP Area
47,780
Density / Sq Mi
$144,831
Median Household Income
$106,856
Median Earnings
$2,571
Median Rent
$495,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Chicago, IL
Frequently Asked Questions
What type of property is this?
Office building - Rehabbed loft building in a visible corner location.
Where is this office building located?
The property is located at 670 W Hubbard St Chicago, IL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Rehabbed loft building in desirable River West/Fulton Market location.; Suitable for user/owner to move their business into the property.; Highly visible corner location with excellent window line.**
