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    55 Wacker Dr Chicago, IL 60601

    Sponsored
    For Sale
    $1,410,000

    10,841 SF Vacant Office Condo, Downtown Chicago

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 10,841-square-foot vacant office condominium, located at 55 W Wacker Drive, Suite 1500, in Chicago's Central Loop, presents a compelling owner-user or value-add investment opportunity. Priced at $1,410,000 ($100/SF), this Class B property offers significant upside potential. Its prime location on Wacker Drive, adjacent to the Chicago Riverwalk and within steps of multiple CTA "L" stations (Blue, Brown, Green, Orange, Pink, and Purple Lines), boasts a perfect 100/100 Walk Score and Transit Score. The property benefits from exceptional demographics, with a daytime population of approximately 490,000 within a one-mile radius and an average annual household income exceeding $152,000. The recent Google acquisition of the neighboring Thompson Center, involving a $280 million investment and thousands of new employees, promises further revitalization of the area. This rare opportunity allows for significant cost savings below replacement cost, making it ideal for an owner-occupier seeking to build equity or an investor looking for lease-up potential and future appreciation. The condominium interest includes APN 17-09-423: 281, 286, 287, 288, 289, 290, & 291. This is a truly unique chance to own a piece of Chicago's iconic riverfront.

    Property Features for 55 Wacker Dr

    General Information

    Property type
    Office Properties & Spaces
    Class
    B

    HighLights

    • 10,841 SF vacant office condo in Chicago's Central Loop, 55 W Wacker Dr, Suite 1500, priced at $1,410,000 ($100/SF).
    • Exceptional value‑add opportunity or owner‑user; below replacement cost.
    • Prime Wacker Drive location, adjacent to the Chicago Riverwalk, with a perfect 100/100 Walk Score and Transit Score.
    • Steps from multiple CTA lines (Blue, Brown, Green, Orange, Pink, Purple).
    • Strong demographics: 490,000 daytime population within one mile, average household income exceeding $152,000.
    • Adjacent to Google's newly acquired Thompson Center, a $280 million investment bringing thousands of new employees.
    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
    -87.6300102
    Latitude
    41.8864753

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    FAQs

    What type of property is this?
    Office Property / Space - 10,841 SF Vacant Office Condo, Downtown Chicago
    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 $1,410,000.
    What are key features of this property?
    This property features: 10,841 SF vacant office condo in Chicago's Central Loop, 55 W Wacker Dr, Suite 1500, priced at $1,410,000 ($100/SF).; Exceptional value-add opportunity or owner-user; below replacement cost.; Prime Wacker Drive location, adjacent to the Chicago Riverwalk, with a perfect 100/100 Walk Score and Transit Score.
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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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