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    111 Jackson Blvd Chicago, IL 60604
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    111 Jackson Blvd Chicago, IL 60604

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    • Retail properties & Spaces
    • 567,531 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • O'Connor & Battle LLP / Law Firm
    • Kimley-Horn / Civil Engineering Company / Engineer
    • Nichic Corporation General Contractors / Construction Company / General Contractor
    • Advanced Resources / Employment Agency
    • Uprising Technology / (Bike/Boat/Book/etc) Store / Corporate Office

    Property Details for 111 Jackson Blvd

    Year built
    1960
    Property size
    567,531 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    111 W Jackson Blvd offers a unique opportunity to lease executive office space in the heart of Chicago's vibrant Loop. This Class B building, constructed in 1960, boasts a total of 567,531 square feet and comprises 29 suites. Currently, there are 30 spaces available, ranging from a minimum of 990 square feet to a maximum contiguous space of 25,463 square feet, making it ideal for businesses of all sizes. The building's diverse property type designation includes retail, office, and restaurant spaces, reflecting its versatile and central location. Located in Cook County, Illinois, with a zip code of 60604, this property offers unparalleled convenience and accessibility. Tenants will enjoy a comprehensive amenity package, including a state-of-the-art fitness center, a spacious rooftop deck perfect for relaxation or events, and a comfortable tenant lounge with ample seating, call rooms, and huddle rooms. A fully equipped conferencing center caters to professional needs, while climate control ensures year-round comfort. Secure in-building parking, a renovated lobby and elevators, a dedicated bike room, and 24-hour manned security provide peace of mind. Onsite food options add to the convenience and efficiency of this exceptional workspace. A total of 291,488 square feet is currently vacant. This property presents a compelling opportunity for businesses seeking a prestigious and well-equipped office space in a prime Chicago location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6312
    Latitude
    41.8778

    Comparable in this City

    • Value Estimation by Request
      567,531 SF

      111 Jackson Blvd

      Restaurants • 567,531 SF
      111 Jackson Blvd, Chicago, IL 60604
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    • Value Estimation by Request
      0.08 Acres

      33 Jackson Blvd, Unit 1E

      CONDOMINIUM OFFICES • 0.08 Acres
      33 Jackson Blvd, Chicago, IL 60604-4092
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    • Value Estimation by Request
      201,400 SF

      343 Dearborn St

      Office Spaces • 201,400 SF
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    • Value Estimation by Request
      155,800 SF

      203 State St

      Retail properties & Spaces • 155,800 SF
      203 State St, Chicago, IL 60604
      View Details
    • Value Estimation by Request
      0.08 Acres

      33 Jackson Blvd Fl, Unit 4

      CONDOMINIUM OFFICES • 0.08 Acres
      33 Jackson Blvd Fl, Chicago, IL 60604-4149
      View Details
    • Value Estimation
      $2,225,000
      110,500 SF

      321 Plymouth Ct, Unit 12

      CONDOMINIUM OFFICES • 110,500 SF
      321 Plymouth Ct, Chicago, IL 60604-3917
      View Details

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    Chicago, IL 60604
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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.

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