Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    77 Washington St Chicago, IL 60602
    Back to Search
    Property profile & analytics

    77 Washington St Chicago, IL 60602

    View on Map
    • Office Spaces
    • 199,698 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Charles Bracey / Law Firm / Insurance Agency
    • Fleishman David / Law Firm
    • Witt Law, P.C. / Law Firm
    • Ziccardi Law Offices / Law Firm
    • Mark J. Kupiec, Esq. / Law Firm

    Property Details for 77 Washington St

    Year built
    1923
    Property size
    199,698 SF
    Property type
    Office Spaces
    Property subtype
    Office Units

    Description

    The iconic Chicago Temple Building, a 21-story, 199,698 square foot landmark at 77 W Washington St, Chicago, IL 60602, offers exceptional office space for lease. Built in 1923 and renovated in 2015, this French Gothic structure boasts a prime location in the Central Loop, directly across from Daley Center and City Hall. The building features multiple tenancies, with available spaces ranging from 203 to 12,359 square feet, catering to diverse business needs. Amenities include elevators and convenient access to public transportation. The building's zoning is DC-16, and its APN is 17-09-461-014-0000. This historic building, with its unique architectural design and central location, provides a prestigious address and unparalleled access to Chicago's vibrant business district. The building's rich history, including its status as the tallest church building (Guinness World Record), adds to its unique character and appeal. The available office spaces are located on floors five through twenty-one, offering stunning city views. This is a rare opportunity to lease space in a truly iconic Chicago landmark.

    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
    -87.6305
    Latitude
    41.8831

    Comparable in this City

    • Value Estimation by Request
      203,000 SF

      134 La Salle St

      Coworking space • 203,000 SF
      134 La Salle St, Chicago, IL 60602
      View Details
    • Value Estimation by Request

      1 State St

      Office Units
      1 State St, Chicago, IL 60602
      View Details
    • Value Estimation by Request
      0.36 Acres

      111 Wabash Ave Ste, Unit 710

      CONDOMINIUM OFFICES • 0.36 Acres
      111 Wabash Ave Ste, Chicago, IL 60602-1945
      View Details
    • Value Estimation by Request
      0.36 Acres

      111 Wabash Ave Ste, Unit 1116

      CONDOMINIUM OFFICES • 0.36 Acres
      111 Wabash Ave Ste, Chicago, IL 60602-3126
      View Details
    • Value Estimation by Request
      0.36 Acres

      111 Wabash Ave Ste, Unit 1216

      CONDOMINIUM OFFICES • 0.36 Acres
      111 Wabash Ave Ste, Chicago, IL 60602-3090
      View Details
    • Value Estimation by Request
      0.36 Acres

      111 Wabash Ave Ste, Unit 1314

      CONDOMINIUM OFFICES • 0.36 Acres
      111 Wabash Ave Ste, Chicago, IL 60602-3076
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      553 SF

      Premium Office with City Views

      Boutique office space in historic Garland Building, downtown Chicago.
      111 N Wabash Ave, Chicago, IL 60602
      View Details
    • $41,475

      Premium Office Space with Views

      Boutique office space in historic Garland Building, downtown Chicago.
      111 Wabash Ave, Chicago, IL 60602
      View Details
    • $199,000

      Iconic Corner Office Condo For Sale

      Corner office condo in the Central Loop District.
      111 North Wabash Ave, Chicago, IL 60602
      View Details
    • $199,900
      2,800 SF

      Downtown Chicago Commercial Condo

      2,800 SF commercial condo in the Garland Building.
      111 N Wabash Ave, Chicago, IL 60602
      View Details
    • Contact for pricing
      7.90 Acres

      Historic Office Space in Chicago

      Office space in the heart of Millennium Park Neighborhood.
      111 N Wabash Ave, Chicago, IL 60602
      View Details
    • Contact for pricing

      Office Unit For Sale

      Office unit for sale in a prominent Chicago building.
      111 N Wabash Ave, Chicago, IL 60602
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      48,952 SF

      30 N Michigan Ave Office Space

      Prestigious Chicago Loop office, stunning views.
      30 N Michigan Ave, Chicago, IL 60602, Chicago, IL 60602
      View Details
    • $20 SF/Yr

      Central Loop Office Space Available

      Furnished and unfurnished office spaces in the Central Loop.
      170 W Washington St, Chicago, IL 60602
      View Details
    • Contact for pricing

      Historic Garland Building Office Condos

      Office condos in the heart of Chicago's business district.
      111 N Wabash Ave, Chicago, IL 60602
      View Details
    • Contact for pricing

      Art Deco Office Building

      Convenient and flexible office space in Central Loop.
      105 W Madison St, Chicago, IL 60602
      View Details
    • Contact for pricing

      High-Floor Office with Lake Views

      Bright, stylish office space in the heart of Chicago.
      111 N Wabash Ave, Chicago, IL 60602
      View Details
    • Contact for pricing
      4,000 SF

      Premium Loop Workspace for Rent

      Located in the landmark Marshall Field and Company Building.
      121 N State St, Chicago, IL 60602
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    77 Washington St
    Chicago, IL 60602
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    77 Washington St, Chicago, IL, 60602
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!