Office Unit with DX-5
For Sale
$250,000
C1-1930 S Wabash Ave, Chicago, IL 60602
Flexible zoning supports retail, professional services, medical, and creative office uses.
Property Size825 SF
Price / SF$303.03
Days on Market356
Property Features for C1-1930 S Wabash Ave
General Information
Standard status
Active
Size
825 SF
Total Parking Spaces
1
Zoning
DX-5
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$7,914
Amenities
high ceilings
hardwood floors
expansive front windows
private offices/treatment rooms
reception/waiting area
expansive restroom
Building Details
Tenancy
Single
Listing Agency:
Century 21 S.G.R., Inc.
(773) 575-2779
Listed By:
Myra Nimchaiyong · License #471018194
(773) 575-2779
Source:
Exprealty
Added: Sep 11, 2025
Changed: Aug 31
Last Checked: Aug 31 at 6:27PM
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 Century 21 S.G.R., Inc.
Investment Insights
Based on property information with market context.
This 825 SF office unit combines a practical multi-room layout with features suited to customer-facing and professional operations. The interior includes high ceilings, hardwood flooring, large front windows, three private offices or treatment rooms, a reception and waiting area, and a spacious restroom. An assigned parking space is included.
The property is located on Wabash Avenue at the signalized intersection with Cullerton Avenue in Chicago’s South Loop. McCormick Place, Wintrust Arena, public transit, and major expressways are nearby, providing access to established event, transportation, and commercial infrastructure. DX-5 zoning supports a range of retail, professional service, medical, and creative office applications.
The property is located on Wabash Avenue at the signalized intersection with Cullerton Avenue in Chicago’s South Loop. McCormick Place, Wintrust Arena, public transit, and major expressways are nearby, providing access to established event, transportation, and commercial infrastructure. DX-5 zoning supports a range of retail, professional service, medical, and creative office applications.
Key Highlights
- 825 SF office unit with retail and professional‑use flexibility
- Three private offices or treatment rooms plus reception and waiting area
- DX‑5 zoning supports retail, medical, professional service, and creative office uses
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,701
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$354,020
$354.0K
Cap Rate 7%
$252,871
$252.9K
Cap Rate 9%
$196,678
$196.7K
Market Conditions
NOI Build-Up for 825 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.7K $38.40/SF
− Vacancy
−$8.1K −$9.79/SF
EGI
$23.6K $28.61/SF
− OpEx
−$5.9K −$7.15/SF
NOI
$17.7K $21.46/SF
Area
Chicago, IL
Vacancy
25.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$354,020
Cap Rate 7%
$252,871
Cap Rate 9%
$196,678
Alternative Uses
Best Use
Office B
$252.9K
$221.3K – $295.0K
NOI $17,701 @ 7.0% cap · market cap 7.08%
Second Best
Retail
$163.1K
$142.7K – $190.2K
NOI $11,414 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$389.0K
$340.4K – $453.8K
NOI $27,229 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
39,284
Businesses Nearby
Explore this area
Business Placement
Demographics for 60602, IL
1,261
Population
551
Households
2.3
Avg Household Size
39
Median Age
49%
College-Educated
97%
High-School Grad
0.1 sq mi
ZIP Area
12,610
Density / Sq Mi
$123,047
Median Household Income
$43,500
Median Earnings
$2,775
Median Rent
$383,300
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Flexible zoning supports retail, professional services, medical, and creative office uses.
Where is this office units located?
The property is located at C1-1930 S Wabash Ave Chicago, IL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 825 SF office unit with retail and professional‑use flexibility; Three private offices or treatment rooms plus reception and waiting area; DX‑5 zoning supports retail, medical, professional service, and creative office uses
