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    55 Wacker Dr Chicago, IL 60601

    Sponsored
    For Sale
    $1,250,000

    Single-tenant, stabilized office building.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 4,754 square foot, Class B office condominium located at 55 W Wacker Drive, Suite 600-C, Chicago, IL 60601. Currently 100% occupied by Koo Architects, a thriving architecture, interior design, and urban planning firm, under a Net lease with a remaining term of approximately 1.9 years, expiring September 30, 2026, and featuring annual rent bumps of 2.25%. The property boasts a strong NOI of $107,389, yielding an 8.59% cap rate, and is offered at an asking price of $1,250,000. Lease options include one 5-year extension. The building benefits from an unparalleled location in the heart of downtown Chicago's Central Loop, directly on the Chicago Riverwalk, and within steps of multiple CTA "L" train stations and bus lines, resulting in perfect Walk and Transit scores. This prime location offers exceptional access to a dense daytime population of approximately 490,000 within a one-mile radius, with an average annual household income exceeding $152,000. The property's proximity to Google's newly acquired Thompson Center, a $280 million redevelopment project, promises further growth and increased value in the surrounding area. The property is free and clear of debt. APN: 17-09-423: 139, 140, 141, & 142.

    Property Features for 55 Wacker Dr

    General Information

    Property type
    Office Properties & Spaces
    Class
    B

    HighLights

    • 4,754 SF Class B office condo at 55 W Wacker Dr, Suite 600‑C, Chicago, IL 60601.
    • 100% occupied by Koo Architects under a Net lease with 1.9 years remaining (expiring 9/30/2026), including 2.25% annual rent bumps and a 5‑year extension option.
    • Strong NOI of $107,389, 8.59% cap rate, asking price $1,250,000.
    • Prime Central Loop location on the Chicago Riverwalk, steps from multiple CTA stations; Walk Score and Transit Score of 100.
    • Exceptional demographics: 490,000 daytime population within 1 mile, average annual household income exceeding $152,000. Property is adjacent to Google's $280M Thompson Center redevelopment.
    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 - Single-tenant, stabilized office building.
    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 $1,250,000.
    What are key features of this property?
    This property features: 4,754 SF Class B office condo at 55 W Wacker Dr, Suite 600-C, Chicago, IL 60601.; 100% occupied by Koo Architects under a Net lease with 1.9 years remaining (expiring 9/30/2026), including 2.25% annual rent bumps and a 5-year extension option.; Strong NOI of $107,389, 8.59% cap rate, asking price $1,250,000.
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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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