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    55 Wacker Dr Chicago, IL 60601

    Sponsored
    For Sale
    $1,575,000

    15,779 SF Vacant Office Condo, Downtown Chicago

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 15,779 square foot vacant office condominium, located at 55 W Wacker Drive, Suite 200, Chicago, IL 60601, presents a unique owner-user or value-add investment opportunity in the heart of Chicago's Central Loop. Priced at $1,575,000 ($100/SF), this Class B property offers significant upside potential. The property is a condominium interest, free and clear of debt, with APN 17-09-423: 069, 070, 071, 072, 073, 074, 075, 076, 077, 078, 079, 080, & 081. Its prime location on Wacker Drive, adjacent to the Chicago Riverwalk and just 350 feet from Google's newly acquired Thompson Center, offers unparalleled access to public transportation (Clark/Lake and State/Lake CTA stations, Water Taxi, numerous bus lines), boasting a perfect 100/100 Walk Score and Transit Score. The surrounding area features a dense daytime population (approximately 490,000 within a 1-mile radius) and high average household income (exceeding $152,000 annually). Google's significant investment in the Thompson Center promises further revitalization of the neighborhood. This presents a rare chance to acquire a piece of Chicago's iconic riverfront office market. The low price per square foot is substantially below replacement cost, allowing for significant cost savings for an owner-user or strong cash flow potential for an investor.

    Property Features for 55 Wacker Dr

    General Information

    Property type
    Office Properties & Spaces
    Class
    B

    HighLights

    • 15,779 SF vacant office condo at 55 W Wacker Drive, Suite 200, Chicago, IL, priced at $1,575,000 ($100/SF).
    • Prime location 350 feet from Google's new Thompson Center, offering significant upside potential due to Google's $280 million investment and planned employee relocation.
    • Exceptional Wacker Drive location in the heart of Chicago's Central Loop, considered a best‑in‑class office address.
    • Exceptional transit access: steps from Clark/Lake and State/Lake CTA stations, Water Taxi, and numerous bus lines; 100 Walk Score and 100 Transit Score.
    • Adjacent to the Chicago Riverwalk, a popular attraction drawing 2.8 million visitors annually.
    • Strong demographics: 490,000 daytime population and average household income exceeding $152,000 within a 1‑mile radius.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rozman Legal Group, ... Family Law Attorney QSKengines Oil Change Service Reflections Of Health Casino Saranow Law Group, ... Real Estate Attorney Revisions Gym

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Food Market Clothing Store Grocery Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6300102
    Latitude
    41.8864753

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    FAQs

    What type of property is this?
    Office Property / Space - 15,779 SF Vacant Office Condo, Downtown Chicago
    Where is this office property / space located?
    The property is located at 55 Wacker Dr Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,575,000.
    What are key features of this property?
    This property features: 15,779 SF vacant office condo at 55 W Wacker Drive, Suite 200, Chicago, IL, priced at $1,575,000 ($100/SF).; Prime location 350 feet from Google's new Thompson Center, offering significant upside potential due to Google's $280 million investment and planned employee relocation.; Exceptional Wacker Drive location in the heart of Chicago's Central Loop, considered a best-in-class office address.
    Request Owner's contact information
    55 Wacker Dr Chicago, IL 60601
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    Chicago, IL 60601
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    Realmo Value Estimation

    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.

    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.

    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
    55 Wacker Dr Chicago, IL 60601
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