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850 Wabash Ave Chicago, IL 60605

OFF-MARKET Retail properties & Spaces Google Maps
43,099 SF 0.96 ac lot Built 1986
Estimated value
No estimation on file for this property yet.
Property ID

Property summary

AI-generated overview

This exceptional four-story, 43,099 square foot office building, located in Chicago's desirable South Loop submarket, presents a unique investment opportunity. Built in 1986 and extensively renovated in 2006, the property boasts a striking renovated lobby and common areas, updated elevators, and modern mechanical systems. The building features impressive 11-foot ceiling heights, creating a spacious and inviting atmosphere. Currently configured for multiple tenants, there are two available spaces ranging from 2,771 to 14,300 square feet, offering flexibility for various business needs. The property sits on a 0.96-acre lot and is zoned DX-12-Downtown Mixed-Use, allowing for diverse potential uses. Its prime location in the South Loop offers unparalleled convenience, steps from Grant Park, numerous residential high-rises, educational institutions, and student housing. Easy access to Lake Shore Drive and the Red, Orange, and Green Line trains at Roosevelt station ensures excellent transportation links. This Class C building represents a compelling investment opportunity in a thriving and dynamic urban setting. The Cook County property (APN: 17-15-304-042-0000) offers a blend of historical charm and modern functionality, making it an ideal choice for discerning investors seeking a well-maintained and strategically located asset.

Property profile

Verified
Property type Retail properties & Spaces
Year built 1986
Total area 43,099 SF
Lot 0.96 ac (41,818 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Dental Office
  • Medical Clinic
  • Dental Office
  • Dental Office
  • Dental Office

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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