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    The Largest CRE Database in the US with Over 1 Million Listings

    900 North Branch St Chicago, IL 60642

    Sponsored
    For Lease
    $32 SF/Yr

    Riverfront Office Suites, 4,177 - 38,170 SF

    Lot size:
    169,491 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    420
    This exceptional Class B office building, located at 900 N North Branch St in Chicago, IL, offers 169,491 square feet of executive office space. Nine suites are available, ranging from a minimum of 4,177 square feet to a maximum contiguous space of 38,170 square feet. Currently, 142,604 square feet is vacant, presenting a significant opportunity for businesses seeking premium office accommodations. Built in 1908, the building boasts a desirable location in Cook County, with convenient access to the Chicago River. The property features 150 onsite parking spaces, with the potential for additional parking nearby. Security is a top priority, with 24-hour manned security, lobby turnstiles, and strategically placed cameras throughout the building. The building also offers convenient loading capabilities and existing kitchen infrastructure on multiple floors. Enjoy oversized windows and stunning river views, enhanced by the 466-foot riverfront walkway. New ownership plans to add state-of-the-art amenities to complement the existing riverside setting, private park, and outdoor terrace, creating a true campus feel. Signage opportunities are available, subject to minimum rentable square footage. This property is ideal for businesses seeking a prestigious and well-equipped office space in a vibrant Chicago location.

    Property Features for 900 North Branch St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    169,491 SF
    Class
    B
    Total Rate
    459038.13

    Building Details

    Year Built
    1908

    Unit(s) available at that property

    Space
    Suite-101
    Size
    6,078 SF
    Rate per SF
    $32
    Space
    Suite-102
    Size
    4,177 SF
    Rate per SF
    $32
    Space
    Suite-300
    Size
    38,170 SF
    Rate per SF
    $32
    Space
    Suite-100
    Size
    14,729 SF
    Rate per SF
    $32
    Space
    Suite-400
    Size
    15,890 SF
    Rate per SF
    $32
    Space
    Suite-500
    Size
    15,890 SF
    Rate per SF
    $32
    Space
    Suite-600
    Size
    15,890 SF
    Rate per SF
    $32
    Space
    Suite-700
    Size
    15,890 SF
    Rate per SF
    $32
    Space
    Suite-800
    Size
    15,890 SF
    Rate per SF
    $32

    We can help!

    Listing Contact
    Andy Demoss

    Learn more

    HighLights

    • 169,491 SF Class B office building in Chicago's River North neighborhood (900 N North Branch St).
    • Nine suites available, ranging from 4,177 SF to 38,170 SF contiguous.
    • 142,604 SF currently vacant.
    • 150 onsite parking spaces, plus potential for additional nearby parking.
    • 24‑hour manned security, lobby turnstiles, and security cameras.
    • Convenient loading docks and existing kitchen infrastructure on multiple floors.
    Property Profile Location Intelligence

    Current Use by Public Records

    Forse Lifestyle Coaching Gym & Fitness Center Culinary Curiosity Museum Inside-Out Chicago Personal ... Gym & Fitness Center One Legged Levi Gym & Fitness Center One Goal Training Gym & Fitness Center

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6490984
    Latitude
    41.8989983

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    FAQs

    What type of property is this?
    Office Property / Space - Riverfront Office Suites, 4,177 - 38,170 SF
    Where is this office property / space located?
    The property is located at 900 North Branch St Chicago, IL.
    What is the lease rate?
    The lease rate is $32 SF/Yr.
    What are key features of this property?
    This property features: 169,491 SF Class B office building in Chicago's River North neighborhood (900 N North Branch St).; Nine suites available, ranging from 4,177 SF to 38,170 SF contiguous.; 142,604 SF currently vacant.
    Request Owner's contact information
    900 North Branch St Chicago, IL 60642
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    Chicago, IL 60642
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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
    900 North Branch St Chicago, IL 60642
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    We can help!
    Listing Contact
    Andy Demoss
    Learn more
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