Office Unit with Exposed
New
For Sale
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900 W Jackson Boulevard Suite 7E, Chicago, IL 60607
Professional office condominium with private offices, conference facilities, kitchen, restrooms, reception space, and dedicated parking.
Property Size2,131 SF
Price / SF$398.40
Days on Market6
Property Features for 900 W Jackson Boulevard Suite 7E
General Information
Standard status
Active
Size
2,131 SF
Total Parking Spaces
1
Property subtype
Office
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Floor
7
Office Units
1
Building Details
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Mike Wolson · License #475.168.248
(773) 482-1917
Source:
Crexi
Added: Sep 2
Changed: Sep 7
Last Checked: Sep 7 at 5:21AM
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 Compass
Investment Insights
Based on property information with market context.
This owner-user office condominium comprises approximately 2,131 square feet with a layout suited to professional office operations. The suite includes seven private offices, a conference room, full kitchen, two restrooms, and a reception and waiting area. Exposed brick, timber ceilings, oversized windows, and natural light add distinctive character, while HVAC was installed in 2023. One dedicated parking space is included.
Three private offices are occupied by independent attorneys under month-to-month arrangements. Their potential continuation would require mutually acceptable terms with a purchaser and may provide optional income. The property is at 900 W Jackson Boulevard in Chicago’s West Loop, near the Fulton Market District and Greektown, with access to downtown Chicago, public transportation, the Kennedy Expressway, and the Eisenhower Expressway.
Three private offices are occupied by independent attorneys under month-to-month arrangements. Their potential continuation would require mutually acceptable terms with a purchaser and may provide optional income. The property is at 900 W Jackson Boulevard in Chicago’s West Loop, near the Fulton Market District and Greektown, with access to downtown Chicago, public transportation, the Kennedy Expressway, and the Eisenhower Expressway.
Key Highlights
- Approximately 2,131 square feet of office space at 900 W Jackson Boulevard, Suite 7E
- Seven private offices, conference room, full kitchen, two restrooms, and reception area
- Exposed brick, timber ceilings, oversized windows, and abundant natural light
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,723
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$914,460
$914.5K
Cap Rate 7%
$653,186
$653.2K
Cap Rate 9%
$508,033
$508.0K
Market Conditions
NOI Build-Up for 2,131 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$81.8K $38.40/SF
− Vacancy
−$20.9K −$9.79/SF
EGI
$61.0K $28.61/SF
− OpEx
−$15.2K −$7.15/SF
NOI
$45.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$914,460
Cap Rate 7%
$653,186
Cap Rate 9%
$508,033
Alternative Uses
Best Use
Office B
$653.2K
$571.5K – $762.1K
NOI $45,723 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.00M
$879.2K – $1.17M
NOI $70,333 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
9,646
Businesses Nearby
Explore this area
Business Placement
Demographics for 60607, IL
31,816
Population
16,540
Households
1.9
Avg Household Size
31
Median Age
81%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
13,833
Density / Sq Mi
$126,307
Median Household Income
$79,870
Median Earnings
$2,333
Median Rent
$494,300
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Professional office condominium with private offices, conference facilities, kitchen, restrooms, reception space, and dedicated parking.
Where is this office units located?
The property is located at 900 W Jackson Boulevard Suite 7E Chicago, IL.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Approximately 2,131 square feet of office space at 900 W Jackson Boulevard, Suite 7E; Seven private offices, conference room, full kitchen, two restrooms, and reception area; Exposed brick, timber ceilings, oversized windows, and abundant natural light
