West Loop Live/Work
921 W Van Buren Street #2D Chicago, IL 60607
921 W Van Buren Street #2D, Chicago, IL, 60607
$375,000
For Sale
$375,000
Four condos in prime West Loop location for sale/lease.
Property Size1,845 SF
Price / SF$203.25
Days on Market195
Property Features for 921 W Van Buren Street #2D
General Information
- Standard status
- Active
- Size
- 1,845 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1914
Listing agency
CENTURY 21 S.G.R., INC.
(312) 455-1322
Listed by
ARMANDO CHACON · License #475153391
Source
Corcoran
Added: Jan 8 Updated: Jul 10 at 3:46PM Checked: Jul 22 at 9:09AM
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 CENTURY 21 S.G.R., INC.
Investment Insights
Based on property information with market context.
Located in the West Loop, this property features a condo available for sale or lease in a live/work building. The unit, identified as Suite 2D, encompasses 1,845 square feet. It features large windows and tall timber ceilings. The layout includes a large open space, private offices, and a bathroom. The property is located steps from Mary Bartelme Park, Greektown, Madison Row, shops, restaurants, cafes, public transportation, expressways, the Medical District, and the Fulton Market District. Rental parking is available across the street. The condo, previously utilized as office space, can continue as such or be converted to residential use, aligning with the majority of other units in the building.
Key Highlights
- Prime West Loop location: Steps to Mary Bartelme Park, Greektown, Madison Row, shops, restaurants, cafes, public transportation, expressways, the Medical District, and the Fulton Market District.
- Live/work building: Offers flexibility for office or residential use.
- 1,845 sq. ft. suite: Provides ample space.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $55.4k | $30.00 |
| − Vacancy | −$5.5k | −$3.00 |
| EGI | $49.8k | $27.00 |
| − OpEx | −$18.7k | −$10.13 |
| NOI | $31.1k | $16.88 |
1,845 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$565.5K
$494.8K – $659.8K
NOI $39,586 @ 7.0% cap · market cap 10.56%
Second Best
Mixed Use
$444.8K
$389.2K – $518.9K
NOI $31,134 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$869.9K
$761.2K – $1.01M
NOI $60,894 @ 7.0% cap · market cap 16.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
HBK Engineering
Engineering Consultant
Bicycle Rack
Bicycle Rack
Greater Chicago Damage ...
Council
RealtyTech Associates Inc
Real Estate Agency
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FAQs
What type of property is this?
Live-work space - Four condos in prime West Loop location for sale/lease.
Where is this live-work space located?
The property is located at 921 W Van Buren Street #2D Chicago, IL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Prime West Loop location: Steps to Mary Bartelme Park, Greektown, Madison Row, shops, restaurants, cafes, public transportation, expressways, the Medical District, and the Fulton Market District.; Live/work building: Offers flexibility for office or residential use.; 1,845 sq. ft. suite: Provides ample space.
