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    332 S Michigan Ave Suite 900 Chicago, IL 60604

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    For Lease
    Contact for pricing

    Tailored office spaces with flexible working plans and meeting rooms.

    Type:Office
    Added:
    Dec 22, 2022
    Days on Market:
    1216
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 332 S Michigan Ave Suite 900

    General Information

    Standard status
    Active
    Property subtype
    Office

    Spaces For Lease

    at 332 S Michigan Ave Suite 900 Contact us

    Virtual Office $4 /Mo

    Size
    Type
    Office
    Work from anywhere with a virtual office in Spaces S Michigan Avenue
    Contact us

    Coworking Non Reserve $1.19 /Mo

    Size
    Type
    Office
    Flexible workspace memberships in Spaces S Michigan AvenuenTotal Monthly Rent 129
    Contact us

    Private office for 3 people $0.87 /Mo

    Size
    Type
    Office
    Professional office space in Spaces S Michigan Avenue on fully flexible termsnTotal...
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    Private office for 2 people $0.82 /Mo

    Size
    Type
    Office
    Find office space in Spaces S Michigan Avenue for 2 persons with everything taken...
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    Open plan office space for + 10 people $1.52 /Mo

    Size
    Type
    Office
    24/7 access to open plan office space for 10 persons in Spaces S Michigan AvenuenTotal...
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    Open plan office space for + 15 people $2 /Mo

    Size
    Type
    Office
    Book open plan office space for businesses of all sizes in Spaces S Michigan AvenuenTotal...
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    Private office for 5 people $1.26 /Mo

    Size
    Type
    Office
    24/7 access to designer office space for 5 persons in Spaces S Michigan AvenuenTotal...
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    Private office for 1 person $0.43 /Mo

    Size
    Type
    Office
    24/7 access to designer office space for 1 person in Spaces S Michigan AvenuenTotal...
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    Coworking dedicated $2 /Mo

    Size
    Type
    Office
    Find a dedicated desk and get down to business in Spaces S Michigan AvenuenTotal...
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    Private office for 4 people $1.17 /Mo

    Size
    Type
    Office
    Find office space in Spaces S Michigan Avenue for 3 persons with everything taken...
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    We can help!

    Listing Contact
    Heartland Spaces US

    Listing agent Heartland Spaces US License #FLBO

    Listing office Spaces

    Listing date Dec 22, 2022

    Source Crexi

    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 Spaces

    Overview

    Versatile Global Network Workspace

    This global network of workspaces enables individuals to work according to their preferences. Tailored office spaces are available, accommodating from 1 to over 100 desks. The location provides professional, collaborative workspaces, communities, and services. Options include private, fully furnished, and equipped offices customized for individual needs, executive office suites, disaster recovery spaces, and day offices. Coworking options are available in shared office or open-plan areas. Meeting rooms can be reserved or customized for informal chats, presentations, training sessions, interviews, board meetings, or conferences. Virtual office options include business addresses, mail handling, and a virtual assistant. Flexible working plans offer access to business lounges in city centers, airports, and stations. Private offices or coworking spaces are available for 5, 10, or unlimited days per month. The network includes over 3000 locations and more than 100,000 offices for rent, ranging from 5 to 1000 square meters or more.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Epic Productions LLC Film Production Digitalvue Photography Service Fetch Portraits- Pet ... Photography Service Ackerman Refinishing and Upholstery Furniture & Home Goods A Dwelling 4U Realty ... Real Estate Agency

    Suggested Use

    Real Estate Agency Spa & Massage Center Restaurant Dental Office Hair Salon Nail Salon Building Supply Daycare Center Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6249237
    Latitude
    41.8876709

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    FAQs

    What type of property is this?
    Coworking space - Tailored office spaces with flexible working plans and meeting rooms.
    Where is this coworking space located?
    The property is located at 332 S Michigan Ave Suite 900 Chicago, IL.
    What are key features of this property?
    This property features: Global network of workspaces with over 3000 locations and 100,000+ offices.; Customizable office spaces available, ranging from 5 sqm to 1000+ sqm.; Flexible working plans offer unlimited access to business lounges worldwide.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Heartland Spaces US
    Real Estate License ID: FLBO
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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