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    542 Dearborn St Chicago, IL 60605

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    For Lease
    Contact for pricing

    Prime South Loop Office, 9 Suites Available

    Lot size:
    88,347 SF

    Property Features for 542 Dearborn St

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    88,347 SF
    Class
    B
    Total Rate
    154607.25

    Building Details

    Year Built/Renovated
    1891/2019
    Buildings
    1
    Stories
    14

    Spaces For Lease

    at 542 Dearborn St, Chicago, IL 60605 Contact us
    Unit Suite 310

    $23 /Mo

    Size
    1,376 SF
    Contact us
    Unit Suite 410

    $21 /Mo

    Size
    1,667 SF
    Contact us
    Unit Suite 550

    $23 /Mo

    Size
    2,271 SF
    Contact us
    Unit Suite 650

    $22 /Mo

    Size
    2,785 SF
    Contact us
    Unit Suite 750

    $22 /Mo

    Size
    5,085 SF
    Contact us
    Unit Suite 801

    $24 /Mo

    Size
    1,555 SF
    Contact us
    Unit Suite 1100

    $27 /Mo

    Size
    6,723 SF
    Contact us
    Unit Suite 1400

    $29 /Mo

    Size
    6,320 SF
    Contact us
    Unit Suite 1000

    $27 /Mo

    Size
    6,170 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Craig A. Nadborne
    Craig A. Nadborne

    Listing Agency: Bradford Allen Realty Services Chicago Listing Agent: Craig A. Nadborne

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This iconic 14-story, 88,347 square foot office building, located at 542 S. Dearborn St. in Chicago's Printer's Row, presents a unique opportunity. Built in 1891 by renowned architects Holabird & Roche, and listed on the National Register of Historic Places, The Pontiac Building boasts a rich history and modern amenities. Recent renovations (2019) encompass the lobby, elevator cabs, select common corridors, and new spec suites, blending historical charm with contemporary functionality. The building offers multiple tenancy options, with spaces ranging from 1,376 to 6,723 contiguous square feet, accommodating diverse business needs. With 10 total suites and currently 44,211 square feet vacant, this property offers significant potential. The building features an 11-foot ceiling height and convenient access to three "L" stations and the LaSalle Metra Station, all within two blocks. A Potbelly Sandwich Shop is located on-site. The building's location in Printer's Row, known for its unique street pattern designed to maximize natural light, offers a vibrant and historically significant setting. The property is zoned 50, situated in Cook County, and has a Building FAR of 6.76. Property taxes are $7.45 per square foot. The 0.3-acre site includes one building with elevators.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    C Quest America Employment Agency Davin Youngs Voice Tutoring Service Law Office of Kevin ... Law Firm Method Consultant Phoenix Rising Counseling ... Crisis Center

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.62919712
    Latitude
    41.87458307

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    FAQs

    What type of property is this?
    Office property - Prime South Loop Office, 9 Suites Available
    Where is this office property located?
    The property is located at 542 Dearborn St Chicago, IL.
    What is the lease rate?
    The lease rate is $21-$29 SF/Yr.
    What are key features of this property?
    This property features: Class B, 88,347 SF office building in Chicago's Printer's Row submarket.; 14-story building with 44,211 SF of vacant space, divisible into units from 1,376 SF to 6,723 SF contiguous.; Building features 11' ceilings, elevators, and recently renovated lobby, elevator cabs, and select common corridors.
    (312) 994-5796 Call to check price and availability
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    542 Dearborn St Chicago, IL 60605
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    542 Dearborn St Chicago, IL 60605
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Craig A. Nadborne
    Craig A. Nadborne
    (312) 994-5796 (773) 454-0159 (312) 994-5700
    Learn more
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