Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    You're browsing as guest. Top-line numbers are free. Full reports — owner contacts, refine, methodology — are paid. Guest mode. Top-line is free.
    New search
    Property profile & analytics
    FOR LEASE
    Office buildings

    228 S Wabash Ave, Chicago, IL 60604

    68,800 SF 0.21 ac lot Built 1925
    Entity Owned 9-yr Hold ~ Est. High Equity
    Property ID
    US28-2202076
    Property summary
    AI-generated overview

    This prestigious 10-story, 84,000 square foot building, constructed in 1930, offers a unique blend of historic charm and modern functionality. Located in Chicago's vibrant East Loop, near historic Route 66, this property boasts 7 available office spaces ranging from 1,303 to 4,700 contiguous square feet, with a total of 7,228 square feet currently vacant. The building features efficient floor plates, abundant natural light from large windows on three sides, upgraded elevators and lobby, and individual HVAC controls. High ceilings and compact floor plans are ideal for small to mid-sized tenants seeking a creative and inspiring workspace. Its prime location provides easy access to Grant and Millennium Parks, Michigan Avenue, and various public transportation options including the Pedway, CTA, Metra, and numerous parking garages. The proximity to the Thompson Center, Daley Center, City Hall, Prudential Plaza, and federal and county courts adds to its exceptional convenience. This is a rare opportunity to secure office space in a landmark building within a thriving and highly accessible area of Chicago.

    Property profile
    Verified
    Property type Office buildings
    Use group OFFICE BUILDING (MULTI-STORY)
    Year built 1925
    Total area 68,800 SF
    Lot 0.21 ac (9,237 SF)
    APN 17-15-104-015
    UPID US28-2202076
    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
    • ParkChicago #545513 Parking Lot & Garage
    • Ramco Personnel Resources-Ill Employment Agency
    • Cabet Group Employment Agency
    • Chicago Area Fair Housing Alliance (CAFHA) Charitable Organization Social Service Agency
    • The Historic Trio on Route 66 Freight Service Logistics Company
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $10.75M
    Owner & transaction history
    Sunshine Ent LLC Series V · 9 yrs held
    Sunshine Ent LLC Series V
    since 2017
    5 recorded transactions
    2022
    2017
    $5.9M
    1969
    1969
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Neighborhood: shopping center $16.5M +77.5%
    Apartment house (5+ units) $11.8M +27.7%
    Retail stores $10.0M +8.1%
    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?”
    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