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    55 Wacker Dr Chicago, IL 60601

    Sponsored
    For Sale
    $1,065,000

    Prime Wacker Drive location, high NOI

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 4,493 sq ft Class B office condominium at 55 W Wacker Drive, Suite 1550, Chicago, IL 60601. The property boasts a stabilized, single-tenant occupancy with a net lease expiring July 31, 2026, offering a remaining lease term of approximately 1.7 years. The current net operating income (NOI) is $85,378, yielding an 8.02% cap rate, with annual rent bumps of 2.5%. The asking price is $1,065,000. This prime location offers unparalleled access to public transportation, including multiple CTA "L" lines and bus routes, resulting in perfect Walk and Transit scores. The property is situated adjacent to the Chicago Riverwalk and benefits from a strong surrounding demographic profile, with a daytime population of approximately 490,000 within a 1-mile radius and an average annual household income exceeding $152,000. The property's proximity to Google's recent $280 million acquisition of the James R. Thompson Center promises further growth and development in the area. The property is free and clear of debt. APN: 17-09-423: 282, 283, 284, & 285.

    Property Features for 55 Wacker Dr

    General Information

    Property type
    Office Properties & Spaces
    Class
    B

    HighLights

    • Google's recent $280 million acquisition of the nearby Thompson Center will significantly improve the area's infrastructure and bring thousands of new employees.
    • Exceptional opportunity to own a portion of 55 West Wacker Drive, a premier Chicago Loop office building on the riverfront.
    • Prime transit‑oriented location; steps from multiple CTA lines, boasting perfect 100 Walk and Transit Scores.
    • Adjacent to the Chicago Riverwalk, a popular $150 million attraction drawing 2.8 million visitors annually.
    • Strong demographics: 490,000 daytime population within 1 mile, average household income exceeding $152,000.
    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
    -87.6298719
    Latitude
    41.8864369

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Wacker Drive location, high NOI
    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 $1,065,000.
    What are key features of this property?
    This property features: Google's recent $280 million acquisition of the nearby Thompson Center will significantly improve the area's infrastructure and bring thousands of new employees.; Exceptional opportunity to own a portion of 55 West Wacker Drive, a premier Chicago Loop office building on the riverfront.; Prime transit-oriented location; steps from multiple CTA lines, boasting perfect 100 Walk and Transit Scores.
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    55 Wacker Dr 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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