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

    2111 Wabash Ave Chicago, IL 60616

    • Medical offices
    • 300,000 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0229479
    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

    • GeeFit Online / Physical Fitness Program / Women'S Personal Trainer
    • Schwaps / Consultant
    • Aspire Residences / Apartment Building / Apartment Complex
    • SemaConnect Charging Station / Electric Vehicle Charging Station
    • STIXS AND STONES CONSTRUCTION GROUP LLC. / Commercial Real Estate Agency / Contractor

    Property Details for 2111 Wabash Ave

    Property size
    300,000 SF
    Property type
    Medical offices
    Property subtype
    Retail space

    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
    -87.625494529805
    Latitude
    41.853797010717

    Comparable in this City

    • $26 SF/Yr

      South Loop Freestanding Commercial Space

      High-visibility commercial space in South Loop, ideal for diverse businesses.
      2441 S State St, Chicago, IL 60616
      View Details
    • $25 SF/Yr
      186,445 SF

      Prime South Loop Office Space

      Executive Suites, Motor Row Location
      2300 Michigan Ave, Chicago, IL 60616
      View Details
    • Contact for pricing
      715 SF

      Retail Space in Residential Building

      715 SF retail space available in Chicago.
      17 W 35Th St, Chicago, IL 60616
      View Details
    • Contact for pricing
      8,600 SF

      Retail Space in La Villita

      Retail space with high frontage in a walkable Chicago location.
      3906-3910 W 26Th St, Chicago, IL 60616
      View Details
    • $25 SF/Yr
      3,645 SF

      Canal Plaza: Chicago Office Suites

      Modern Chinatown Offices, 3 Spaces Available
      2252 Canal St, Chicago, IL 60616
      View Details
    • Contact for pricing
      21,301 SF

      Michigan Avenue Retail Opportunity

      Prime retail spaces available on Magnificent Mile.
      600 N Michigan St, Chicago, IL 60616
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      40,000 SF

      Chicago South Loop Mixed-Use Investment

      High-NOI, Multifamily & Retail Portfolio
      2001 State St, Chicago, IL 60616
      View Details
    • Contact for pricing
      33,500 SF

      Motor Row Redevelopment Opportunity

      33,500 SF Flex Space, Chicago
      2221 Michigan Ave, Chicago, IL 60616
      View Details
    • $325,000
      0.14 Acres

      Versatile Commercial Space in South Loop

      Bright, open-concept commercial space in a vibrant Chicago neighborhood.
      18 E Cullerton St, Chicago, IL 60616
      View Details
    • $12,564,000
      26,704 SF

      Bronzeville Health Center Medical Facility

      Newly renovated medical facility leased to Cook County Health.
      467 E 31St St, Chicago, IL 60616
      View Details
    • $325,000
      0.14 Acres

      Versatile Commercial Space in South Loop

      Bright, open-concept commercial space in vibrant Chicago neighborhood.
      18 E Cullerton St, Chicago, IL 60616
      View Details
    • $275,000
      24,000 SF

      South Loop Retail/Office Space

      Versatile 825 SF space in prime South Loop location.
      1932 S Wabash Ave, Chicago, IL 60616
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr

      South Loop Freestanding Commercial Space

      High-visibility commercial space in South Loop, ideal for diverse businesses.
      2441 S State St, Chicago, IL 60616
      View Details
    • $25 SF/Yr
      186,445 SF

      Prime South Loop Office Space

      Executive Suites, Motor Row Location
      2300 Michigan Ave, Chicago, IL 60616
      View Details
    • Contact for pricing
      715 SF

      Retail Space in Residential Building

      715 SF retail space available in Chicago.
      17 W 35Th St, Chicago, IL 60616
      View Details
    • Contact for pricing
      8,600 SF

      Retail Space in La Villita

      Retail space with high frontage in a walkable Chicago location.
      3906-3910 W 26Th St, Chicago, IL 60616
      View Details
    • $25 SF/Yr
      3,645 SF

      Canal Plaza: Chicago Office Suites

      Modern Chinatown Offices, 3 Spaces Available
      2252 Canal St, Chicago, IL 60616
      View Details
    • Contact for pricing
      21,301 SF

      Michigan Avenue Retail Opportunity

      Prime retail spaces available on Magnificent Mile.
      600 N Michigan St, Chicago, IL 60616
      View Details

    Property Visit Statistics

    • Visits by month
      29.7k
    • Visitors by month
      23.4k
    • Avg Time on site
      18 min
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    2111 Wabash Ave
    Chicago, IL 60616
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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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