Two-Story Professional Office
For Sale
$349,500
Pending
B-2611 Chicago St, Valparaiso, IN 46383
Configured with reception, private offices, conference space, kitchenette, restroom, and loft-style upper-level workspace.
Property Size2,624 SF
Days on Market66
Property Features for B-2611 Chicago St
General Information
Standard status
Pending
Size
2,624 SF
Additional Details
Highway Access
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$5,527
Building Details
Buildings
1
Stories
2
Listing Agency:
McColly Real Estate
(219) 462-2411
Listed By:
Michael Siwietz · License #RB14041675
(219) 229-2911
Source:
Exprealty
Added: Aug 3
Changed: Sep 9
Last Checked: Oct 7 at 1:12PM
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 McColly Real Estate
Investment Insights
Based on property information with market context.
This 2,624 SF office condominium occupies two levels within a six-unit, three-building office park on just over an acre. The main level includes a built-in reception area, two private offices, a conference room with tray ceilings and hardwood features, kitchenette, mechanical room, and restroom. Upstairs, a loft-style landing connects two additional offices. The office park provides 40+ parking spaces and monument signage along Chicago Street.
The property is minutes from major retailers along LaPorte Avenue, with access to Rt 49 and US 30. Valparaiso University is also nearby. The interior layout combines client-facing reception and conference areas with multiple private offices and supporting workspace.
The property is minutes from major retailers along LaPorte Avenue, with access to Rt 49 and US 30. Valparaiso University is also nearby. The interior layout combines client-facing reception and conference areas with multiple private offices and supporting workspace.
Key Highlights
- 2,624 SF two‑story office condominium
- Six‑unit office park across three buildings on just over an acre
- 40+ parking spaces within the office park
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,523
Cap Rate
9.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$630,460
$630.5K
Cap Rate 7%
$450,329
$450.3K
Cap Rate 9%
$350,256
$350.3K
Market Conditions
NOI Build-Up for 2,624 SF
Gross rent
$44.7K $17.04/SF
− Vacancy
−$2.7K −$1.02/SF
EGI
$42.0K $16.02/SF
− OpEx
−$10.5K −$4.00/SF
NOI
$31.5K $12.01/SF
Area
Porter County, IN
Vacancy
6.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$630,460
Cap Rate 7%
$450,329
Cap Rate 9%
$350,256
Alternative Uses
Best Use
Office B
$450.3K
$394.0K – $525.4K
NOI $31,523 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$994.5K
$870.2K – $1.16M
NOI $69,616 @ 7.0% cap · market cap 19.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,763
Businesses Nearby
Explore this area
Business Placement
Demographics for 46383, IN
41,981
Population
18,343
Households
2.3
Avg Household Size
39
Median Age
38%
College-Educated
95%
High-School Grad
87.5 sq mi
ZIP Area
480
Density / Sq Mi
$75,575
Median Household Income
$43,065
Median Earnings
$1,144
Median Rent
$258,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Configured with reception, private offices, conference space, kitchenette, restroom, and loft-style upper-level workspace.
Where is this office units located?
The property is located at B-2611 Chicago St Valparaiso, IN.
What is the asking price?
The asking price for this property is $349,500.
What are key features of this property?
This property features: 2,624 SF two‑story office condominium; Six‑unit office park across three buildings on just over an acre; 40+ parking spaces within the office park
