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    228 Wabash Ave Chicago, IL 60604

    For Lease
    $19 SF/Yr

    Vintage Office Suites, 1,303 - 4,700 SF

    Lot size:
    84,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This prestigious 10-story, 84,000 square foot building, constructed in 1930, offers a unique blend of historic charm and modern functionality. Located in Chicago's vibrant East Loop, near historic Route 66, this property boasts 7 available office spaces ranging from 1,303 to 4,700 contiguous square feet, with a total of 7,228 square feet currently vacant. The building features efficient floor plates, abundant natural light from large windows on three sides, upgraded elevators and lobby, and individual HVAC controls. High ceilings and compact floor plans are ideal for small to mid-sized tenants seeking a creative and inspiring workspace. Its prime location provides easy access to Grant and Millennium Parks, Michigan Avenue, and various public transportation options including the Pedway, CTA, Metra, and numerous parking garages. The proximity to the Thompson Center, Daley Center, City Hall, Prudential Plaza, and federal and county courts adds to its exceptional convenience. This is a rare opportunity to secure office space in a landmark building within a thriving and highly accessible area of Chicago.

    Property Features for 228 Wabash Ave

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    84,000 SF
    Total Rate
    133000

    Building Details

    Year Built
    1930
    Stories
    10

    Unit(s) available at that property

    Space
    Suite 330
    Size
    4,160 SF
    Rate per SF
    $20
    Space
    Suite 700
    Size
    4,600 SF
    Rate per SF
    $20
    Space
    Suite 310
    Size
    1,263 SF
    Rate per SF
    $19
    Space
    Suite 210
    Size
    845 SF
    Rate per SF
    $19
    Space
    Suite 1000
    Size
    4,600 SF
    Rate per SF
    $20
    Space
    Suite 320
    Size
    960 SF
    Rate per SF
    $19
    Space
    Suite 420
    Size
    1,270 SF
    Rate per SF
    $20

    HighLights

    • 84,000 square foot, 10‑story office building in Chicago's East Loop submarket.
    • Multiple suites available, ranging from 1,303 to 4,700 contiguous square feet; 7,228 square feet currently vacant.
    • Built in 1930, offering vintage charm with upgraded elevators and lobby.
    • Features efficient floor plates ideal for small‑to‑mid‑sized tenants, with lofted ceilings, excellent natural light, and individual HVAC controls.
    • Convenient location near Grant and Millennium Parks, Michigan Avenue, and multiple public transportation options.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    ParkChicago #545513 Public Parking Space Ramco Personnel Resources-Ill Employment Agency Cabet Group Employment Agency Chicago Area Fair ... Non-Profit Organization The Historic Trio on Route ... Transportation Service

    Suggested Use

    Realty agency Spa & Massage Restaurant Hair Salon Dental Office Nail Salon Building Supply Daycare Center Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6263862
    Latitude
    41.8786628

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    FAQs

    What type of property is this?
    Office space - Vintage Office Suites, 1,303 - 4,700 SF
    Where is this office space located?
    The property is located at 228 Wabash Ave Chicago, IL.
    What is the lease rate?
    The lease rate is $19-$20 SF/Yr.
    What are key features of this property?
    This property features: 84,000 square foot, 10-story office building in Chicago's East Loop submarket.; Multiple suites available, ranging from 1,303 to 4,700 contiguous square feet; 7,228 square feet currently vacant.; Built in 1930, offering vintage charm with upgraded elevators and lobby.
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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
    228 Wabash Ave Chicago, IL 60604
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