Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1 Wacker Dr Chicago, IL 60601-1474
    Back to Search
    Property profile & analytics

    1 Wacker Dr, Chicago, IL 60601-1474

    View on Map
    • Office buildings
    • 1,215,200 SF
    • 0.44 lot acres
    Off-Market
    Property ID
    US28-1331344
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $4,140,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Lakota Group / Urban Planning Department / Landscape Architect
    • Manhard Consulting / General Contractor
    • HNTB Corporation / Engineering Consultant / Architect
    • TottisLaw / Law Firm
    • Robert Marc Chemers / Law Firm / Insurance Agency

    Property Details for 1 Wacker Dr

    Year built
    1962
    Lot size
    0.44 lot acres
    Property type
    Office buildings
    APN
    17-10-302-027
    APU
    1710302027

    Description

    This exceptional 2,100 square foot retail space is situated within the prestigious Renaissance Chicago Downtown Hotel, a 27-story, 560-room luxury establishment at 1 W Wacker Dr, Chicago, IL 60601. Built in 1991 and renovated in 2016, the building boasts a prime location in the Loop submarket of Cook County, overlooking the Chicago River at the bustling intersection of Wacker Drive and State Street. The space is part of a larger 482,300 square foot building with multiple tenants, offering excellent visibility and access to a high volume of foot traffic. The property features convenient elevator access and sits on 1.15 acres of land. This retail opportunity allows businesses to join a vibrant retail corridor alongside established high-end restaurants and retailers such as Chicago Cut, Soul Cycle, Prime & Provisions, AceBounce, Flight Club, and Chase. The space is immediately available.

    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
    -87.6275
    Latitude
    41.8865
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $4,829,313
    $2,034,900
    $20,496,560
    $22,531,460
    -
    $8,139,600
    $81,986,240
    $90,125,840

    Comparable in this City

    • Value Estimation
      $885,000
      2.32 Acres

      300 Randolph St

      OFFICE BUILDING (MULTI-STORY)
      300 Randolph St, Chicago, IL 60601-5014
      View Details
    • Value Estimation by Request

      203 La Salle St

      OFFICE BUILDING (MULTI-STORY)
      203 La Salle St, Chicago, IL 60601-1267
      View Details
    • Value Estimation
      $1,995,000
      1,206,400 SF

      69 Wacker

      OFFICE BUILDING (MULTI-STORY)
      69 Wacker, Chicago, IL 60601
      View Details
    • Value Estimation
      $37,420,000
      231,700 SF

      190 State St

      OFFICE BUILDING (MULTI-STORY)
      190 State St, Chicago, IL 60601-3302
      View Details
    • Value Estimation
      $1,195,000
      1,037,200 SF

      161 Clark St

      OFFICE BUILDING (MULTI-STORY)
      161 Clark St, Chicago, IL 60601-3206
      View Details
    • Value Estimation
      $3,590,000
      626,500 SF

      222 La Salle St

      OFFICE BUILDING (MULTI-STORY)
      222 La Salle St, Chicago, IL 60601-1003
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Downtown Chicago Office Space

      Office space for sale in downtown Chicago.
      55 W Wacker Dr, Chicago, IL 60601
      View Details
    • Contact for pricing

      Downtown Chicago Office Space

      Office space for sale in downtown Chicago.
      55 W Wacker Dr, Chicago, IL 60601
      View Details
    • Contact for pricing

      Office Space on Wacker Drive

      Office space available in downtown Chicago.
      55 W Wacker Dr, Chicago, IL 60601
      View Details
    • $158,000

      Renovated Commercial Condo with Amenities

      Newly renovated commercial condo with extensive amenities and flexible zoning.
      400 E Randolph St, Chicago, IL 60601
      View Details
    • $1,065,000

      Downtown Chicago Office Investment

      Prime Wacker Drive location, high NOI
      55 Wacker Dr, Chicago, IL 60601
      View Details
    • $30,000

      Heated Parking Space For Sale

      Deeded, heated parking space available on the second floor.
      340 E Randolph St, Chicago, IL 60601
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Chicago Office Space

      Prime office location near Millennium Park and Cultural Center.
      180 N Michigan Ave, Chicago, IL 60601
      View Details
    • Contact for pricing
      19,000 SF

      Revitalized Office Space Available

      Interconnected, revitalized office buildings suitable for corporate headquarters and boutique brands.
      180 N Stetson Ave, Chicago, IL 60601
      View Details
    • Contact for pricing
      969,053 SF

      Michigan Avenue Office Complex

      Two million square foot office complex on Michigan Avenue.
      225 N Michigan Ave, Chicago, IL 60601
      View Details
    • Contact for pricing
      15,187 SF

      Prime Office Space on Wacker

      Office space with river and city views in Chicago.
      55 W Wacker Dr, Chicago, IL 60601
      View Details
    • Contact for pricing
      375,154 SF

      Prestigious River North Office Space

      Iconic 60-story office building in Chicago's River North.
      300 North La Salle St, Chicago, IL 60601
      View Details
    • Contact for pricing
      625,221 SF

      Prestigious Office Space in Chicago

      Prime office space in Chicago's Central Loop with high visibility.
      203 N La Salle St, Chicago, IL 60601
      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.
    1 Wacker Dr
    Chicago, IL 60601-1474
    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
    1 Wacker Dr, Chicago, IL, 60601
    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!