New search
Property profile & analytics
FOR LEASE
Office buildings
200 Wacker Dr 31st Chicago, IL 60606
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US28-0105179
For Lease
1 / 18
$129-$18,023/Mo
200 Wacker Dr,Unit 31st, Chicago, IL 60606
View Listing →
Property summary
AI-generated overview
This Class A, 44,740 square foot office building at 200 South Wacker Drive, 31st Floor, in Chicago's vibrant West Loop, offers a variety of executive office, coworking, and creative office spaces. Located in Cook County, IL, zip code 60606, this property boasts 350 suites, with a minimum divisible space of 100 square feet and a maximum contiguous space of 1,300 square feet. Currently, 5,970 square feet are vacant. Renovated in 2019, the building features elevators and provides a stunning, naturally lit reception area. The building's prime location in Chicago's financial district offers excellent access to public transportation, including a water taxi, and numerous nearby restaurants. Available options range from fully furnished private offices for individuals or large companies to customized spaces, disaster recovery solutions, and day offices, catering to diverse business needs. The building also offers a benefits program with exclusive discounts and procurement support. This is an exceptional opportunity to establish your business in a top-tier, globally recognized financial center.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1901
Total area
789,600 SF
Lot
0.52 ac (22,852 SF)
APN
17-16-214-002
UPID
US28-0105179
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Novum Pharma Factory Production Facility
-
Karbal Cohen Economou Silk Law Firm Insurance Agency
-
Patten Jefferson D Law Firm Insurance Agency
-
Fuchs & Roselli, Ltd. Law Firm
-
alligatortek (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$278.02M
Comparable Approach
Comparable
$219.40M
Blend (final)
Blend
$238.13M
Owner & transaction history
Map Gs 200 S Wacker Owner LLC · 1 yrs held
Map Gs 200 S Wacker Owner LLC
since 2025
Last sale
$214.5M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$343.8M
+223.3%
Neighborhood: shopping center
$188.8M
+77.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Chicago submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chicago submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$264,235,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$301,185,000
6.5%
$278,015,000
7%
$258,160,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$343,750,000
Change: +223% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$188,780,000
Change: +78% · Conversion: Difficult
Blend value · Realmo final
$238.13M
Range $214.32M – $261.94M · ±10% · vs last sale $214.50M (Jan 31 2025)
Last sale anchor
$214.50M
Jan 31 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$302 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$8,234,391
Tax year 2022
Assessed value
$40,034,514
Assessed 2022
Previous assessed
$40,679,387
-1.6% YoY
Effective rate
20.57%
On assessed value
Assessed land
$2,713,675
Assessed improvement
$37,320,839
Land market value
$10,854,700
Improvement market value
$149,283,356
Total market value
$160,138,056
Applied tax rate
76,068.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1901
Heating
NONE
Stories
39
Total area
789,600 SF
Lot
0.52 ac (22,852 SF)
APN
17-16-214-002
UPID
US28-0105179
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$343.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$188.8M
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1901
Heating
NONE
Stories
39
Lot
0.52 ac
Current owner
From public records · entity-resolved
Map Gs 200 S Wacker Owner LLC
Entity
Mailing address
200 S WACKER DR STE #300, CHICAGO, IL 60606-5845
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2025
—
Map Gs 200 S Wacker Owner LLC
200 South Wacker Il LLC
Deed
related
—
Sep 12, 2019
—
200 South Wacker Il LLC
—
Grant Deed
related
$163,210,000 · Bank Of China
Oct 2, 2018
$207,270,000
200 South Wacker Il LLC
John Hancock Life Ins Co
Quit Claim Deed
related
—
Dec 19, 2013
$214,500,000
John Hancock Life Ins Co Us
200 S Wacker Prop Owner LLC
Grant Deed
—
Jun 13, 2011
$95,500,000
200 S Wacker Property Owner LLC
200 South Wacker Property LLC
Special Warranty Deed
$49,000,000 · Citibank NA
Jan 20, 2006
$84,000,000
200 South Wacker Property LLC
200 South Wacker Drive LLC
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
