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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1044 Van Buren St Chicago, IL 60607

    • Office space
    • 222,000 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1023172
    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.

    Current Use by Public Records

    • Sage West Loop Apartments / Apartment Complex / Apartment Building

    Property Details for 1044 Van Buren St

    Year built
    2022
    Property size
    222,000 SF
    Property type
    Office space
    Property subtype
    Retail space

    Description

    This exceptional 222,000 square foot, single-tenant property located at 1044 W Van Buren St, Chicago, IL 60607, presents a unique opportunity for businesses seeking a prime location in the vibrant West Loop neighborhood. Completed in 2022, this building offers modern, creative office space ideal for a variety of uses, including street retail and storefront options. The ground floor space is situated within a high-density corridor, ensuring high visibility and a captive audience. The building's design caters to modern business needs, offering a flexible and adaptable layout. Convenient parking is readily available nearby, enhancing accessibility for employees and clients. This is a rare chance to secure a prominent presence in one of Chicago's most sought-after commercial districts. The property's new construction ensures state-of-the-art amenities and efficient design, maximizing space and functionality. The single-tenant occupancy provides complete control and customization options. This location offers unparalleled access to a thriving community and excellent transportation links. Don't miss this opportunity to establish your business in this dynamic and desirable area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.653508174599
    Latitude
    41.876590538478

    Comparable in this City

    • $20 SF/Yr
      4,630 SF

      Retail and Commercial Space Available

      Renovated building with retail and flexible commercial space.
      600-608 W Roosevelt Rd, Chicago, IL 60607
      View Details
    • $29 SF/Yr
      207,000 SF

      Fulton Market Corner Retail Space

      Prime Chicago retail, new construction, high-traffic location.
      150 Ashland Ave, Chicago, IL 60607
      View Details
    • $40 SF/Yr

      Little Italy Corner Retail Space

      Corner retail space in Little Italy with high ceilings.
      1221 W Taylor St, Chicago, IL 60607
      View Details
    • $35 SF/Yr

      West Loop Street Retail Space

      Premier retail property for lease in Chicago's West Loop.
      1371 W Randolph St, Chicago, IL 60607
      View Details
    • $40 SF/Yr
      4,847 SF

      West Loop Retail Space Available

      Retail space in high-traffic West Loop location, ready for occupancy.
      1301-1329 W Madison St, Chicago, IL 60607
      View Details
    • $30 SF/Yr
      1,979 SF

      Retail Space Available For Lease

      End-cap retail space in excellent condition, partially built out.
      901 W Jackson Blvd, Chicago, IL 60607
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Roosevelt Road Mixed-Use Portfolio

      Chicago Office & Retail Investment
      622 Roosevelt Rd, Chicago, IL 60607
      View Details
    • $385,000
      959 SF

      West Loop Storefront - Chicago

      Modern Retail/Office Space, West Loop
      1351-1355 Washington Blvd, Chicago, IL 60607
      View Details
    • Contact for pricing
      850 SF

      West Loop Retail Unit

      Remodeled 850 SF retail unit near Morgan CTA stop.
      1118 W Fulton Market, Chicago, IL 60607
      View Details
    • $394,000
      0.23 Acres

      West Loop Commercial Condo Opportunity

      1,738 sqft commercial condo in Chicago's vibrant West Loop.
      22 N Morgan St, Chicago, IL 60607
      View Details
    • $3,000,000
      10,632 SF

      South Loop Renovated Retail/Office

      Renovated South Loop building with office and retail space.
      622 West Roosevelt Rd, Chicago, IL 60607
      View Details
    • $8,900,000
      15,000 SF

      Fulton Market Mixed-Use Investment

      Chicago storefront: Value-add opportunity.
      1052 Fulton St, Chicago, IL 60607
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      4,630 SF

      Retail and Commercial Space Available

      Renovated building with retail and flexible commercial space.
      600-608 W Roosevelt Rd, Chicago, IL 60607
      View Details
    • $35 SF/Yr

      West Loop Street Retail Space

      Premier retail property for lease in Chicago's West Loop.
      1371 W Randolph St, Chicago, IL 60607
      View Details
    • $30 SF/Yr
      1,979 SF

      Retail Space Available For Lease

      End-cap retail space in excellent condition, partially built out.
      901 W Jackson Blvd, Chicago, IL 60607
      View Details
    • $40 SF/Yr
      4,847 SF

      West Loop Retail Space Available

      Retail space in high-traffic West Loop location, ready for occupancy.
      1301-1329 W Madison St, Chicago, IL 60607
      View Details
    • $29 SF/Yr
      207,000 SF

      Fulton Market Corner Retail Space

      Prime Chicago retail, new construction, high-traffic location.
      150 Ashland Ave, Chicago, IL 60607
      View Details
    • $40 SF/Yr

      Little Italy Corner Retail Space

      Corner retail space in Little Italy with high ceilings.
      1221 W Taylor St, Chicago, IL 60607
      View Details
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    1044 Van Buren St
    Chicago, IL 60607
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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.

    More about this property
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